Dubai’s Sheikh Mohammed bin Rashid Al Maktoum will open the world’s tallest tower today, but it won’t be the world’s fullest.
The occupancy rate at Burj Dubai may reach 75% this year, with office leasing proving the biggest challenge for investors, said Roy Cherry, an analyst at investment bank Shuaa Capital PSC. While mainly residential, the 160-story tower will include 37 floors of office and retail space.
'Those who bought with the intention of leasing will face a difficult time, because few companies today can justify paying premiums for luxury,' Cherry said.
bloomberg.com. The National