Downtown Dubai and Burj Dubai Tower a great investment

Investing in one of the fast growing cities in the world is no news for the real estate investors.

Dubai is long known as one of the most attractive places to invest in.

But now they really shocked the world with the new project called ‘Downtown Dubai’ which is a 2 km² (0.8 sq mi) development. (- Developer: EMAAR Properties

- Contractor: Samsung Constructions / BESIX / Arabtec)

The Burj Dubai Tower which means Dubai’s Tower is just a part of the whole project.

“Burj Dubai is the brilliant core around which Downtown Burj Dubai revolves. Designed to be the world’s tallest building it will tower high above the city. Not a mere victory of numbers, it is the symbol of the human spirit’s triumph over the impossible”.  The Official Site

Burj Dubai is the tallest man-made skyscraper in the world that is currently under construction and it is located in Dubai, United Arab Emirates. We understand that the building is designed to have 146 floor levels and 536.1 high. The allocated budget for the project was 4.1 billion USD. 

The people in charge kept the height and the final structure secret. However, the building’s proportions could differ from the above if we are to take into account the latest publications i.e. the building’s height could get up to 1011 m and 216 floor levels.

The building work started in January 2004, will be completed by the end of 2008 and it is scheduled for occupancy by September 2009.

Due to its reinforced concrete structure Burj Dubai will be resistant to the strong winds in the area and the occupants of the building will not be able to notice any vibrations or oscillations of the building. The building will have the fastest elevators in the world with a speed of 700m/min. An observation deck will be located on the 124^th floor. The tower will house one of the first Armani hotels.

If as the height of the building wasn’t enough architects to draw attention, based on an agreement signed by the Italian designer Giorgio Armani and business properties United Arab Emirates Emaar Properties, agreed to build the first 37 floors of the skyscraper as the first hotel chain of Armani Hotels & Resorts; another jewel of Dubai indeed.

I’m not sure if this would be a great real estate investment, in terms of ROI but it is worth buying.

As Dubai becomes more and more one of the favorite destinations for real estate investors as well as for tourists, it is very likely that the real estate prices will rise.

I’ll end this article with a beautiful quote from the developers’ site:

“Burj Dubai will be known by many names. But only a privileged group of people will call it home.” - The Official Site