One of the prominent landmark building Burj Khalifa has seen a 9 to 12 percent price growth during first quarter of 2012, compared to the last quarter of 2011.
The current prices range from Dh.2,850 to Dh.3,600 per square feet, whereas the last quarter 2011 shows between Dh.2,600 to Dh.3,200. The prices differ based on the views from Lake and Fountain views, to sea and Sheikh Zayed Road.
Though the growth of process is upward, a nominal increase is seen in rentals. Manish Khatri, the Vice-President – Business Development & Investments, mentioned that the trend of growth indicate upward scale in prices for units with a view, and downfall for units without good view. Inspite of minor fluctuation in the trend of prices, there is considerably stable prices across the board on the Burj Khalifa.
The overall prices of properties in Downtown area have gone up due to lower levels of stocks. According to the price listing at by a prominent real estate agent, the prices are touching Dh.3,500 per square feet, while the bottom prices are starting at Dh.2,500 per square feet.
High residential real estate transactions have been observed at Burj Khalifa during 2011, with prices soaring at Dh.28mn. The Landmark building stands at 2,717 feet tall, and has 900 studios, single, double, triple and four bedroom units, whereas the Armani Residences offer 144 fully furnished private apartments.
The building also provides lavish leisure and recreational amenities, which include swimming pools, health and wellness facilities, and residents’ lounge. Burj Khalifa, offers one of the highest fine dining restaurants in the world at level 122 called ‘At.mosphere’, and world’s highest observatory deck with an outdoor terrace on level 124 called ‘At the Top’.