04/01/2010

Burj Dubai Sky Scraper.


Dubai opened to the public today the tallest tower in the world, the Burj Dubai, 818 meters sky high. Despite the financial shock of the end of last year, due to the ever growing financial difficulties of the real estate, Burj Dubai was inaugurated today, at around 25 thousand euros per square meter, almost half the stipulated price of first quarter 2009.

Sheik Mohammed bin Rashid al-Maktoum inaugurates today the tower Burj Dubai, with 169 floors, which is the tallest structure ever built by man. Started building in 2004, the Burj Dubai is essentially a residential building. It has 900 studios, 144 apartments, designed by Italian fashion designer Giorgio Armani. Another record of the Burj Dubai is the world's tallest pool, situated on the 76th floor. Given its height, the tower has a temperature in the ground which is about 10 degrees higher than the top. Also a mystery is who is going to live and work there, which is said to be a matter of client confidentiality. Despite the recession, the developers say it is sold out.
However, Dubai and surrounding neighbors are now certain to face second quarter of 2010 serious economical crises as the crude prices are now in the $81 per barril margin, according to WorldWatch this will cause a 12% drop in demand for crude in most industrialized nations.
The OPEC memebers cannot control speculation and this will have negative effects on all recession gripped economies as is the case with Dubai...

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