Quote:
Originally Posted by Nowhereman1280
Now that this building has been complete for a year or two, how are the economics of it? What is the occupancy like? Are there any major vacant portions? Is it experiencing similar speculative overhang to what we saw when the ESB and WTC where originally completed? I'm curious given all the chatter about how there was "no practical economic argument" for a building like this when it was under construction.
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I can't find anything more recent so if anyone can find some more recent I'd be interested as well, so for what it's worth...
Dubai's Burj Khalifa is Still World's Tallest Building, Remains 90 Percent Vacant
Posted by Kevin Brass 10/27/10 1:02 PM EST
"Nine months after Burj Khalifa opened with a massive fireworks and light show, 90 percent of the apartments in the world world's tallest building are empty, a Dubai agent says.
With only about 75 of the 900 apartments in the tower occupied, asking rents in the tower have fallen almost 50 percent, Better Homes sales adviser Laura Adams told Gulf News. Studio apartments are now available for about $1,800 a month, down from $3,000, while two-bedroom units once priced at $7,100 a month now rent for about $4,300..."