Burj Dubai tower (Burj Khalifa) seems to be called a shock with it total height of 828 meters, the most distant can be seen is from 95 kilometers away. It has more than 160 story, the surface of the outer layer built from about 28000 plates, the glass enough to cover 14 standard football field. In addition, the building is equipped with the world’s fastest elevator, a maximum speed of 64 kilometers per hour. Also it has the world’s highest swimming pool and mosque. But when you think of Dubai current outbreak of the debt crisis, people are inevitably worried about the future of Dubai – Is it the beginning of recovering? Or a sign of declination?

At 4th January 2010 8pm Dubai local time, the world’s tallest building Burj Dubai(Burj Khalifa) was inaugurated. With 868 large flash lights and minimum of 50 fully computer-controlled sound effects, as well as 10,000 of the silhouetted against the large-scale fireworks show, the world’s nearly two billion television audiences witnessed this historic moment. But that created a “Desert Myth” of the “Dubai model”, more people are thinking of what is broken in such a gorgeous or rebirth after?

Lincoln Cathedral in the United Kingdom that built in 1311 once replace the Giza pyramids in Egypt to become the world’s tallest building. Today, the world’s tallest buildings title again return back to the Middle East.

Name change to Burj Khalifa

So far in human history, the tallest building – Burj Dubai officially inaugurated today and the name been changed to Burj Khalifa. It is the world’s first and by far the only one over 800 meters high building which beat Taipei 101 tower, before that was the tallest skyscraper on earth.

From the building itself, the first impression of Burj Dubai(Burj Khalifa) shows to people is shocking. The design incorporates traditional Islamic architectural style, from many parts of the core gradually into a coherent body, appearance effects like spiral pattern, rotating rushed into the sky. The top gradually transformed into the highest steeple, gives a straight, punctured to sky feeling. Internal including master of style designed by Giorgio Armani’s “Armani” hotel, thousands of sets of apartments, office buildings, as well as the world’s highest swimming pool and a Mosque. To resolve the problem for carry people up and down the tower, Dubai tower is also equipped with the world’s fastest elevator, the speed of up to 17.5 meters per second. In which the main lift height of 504 meters, also the world’s highest lift.

The Burj Dubai(Burj Khalifa) is also become the limelight in the inauguration. During the ceremony, the organizers used a lot of shot in, including 868 large-scale flash and at least 50 kinds of fully computer-controlled audio. The Ceremony include three main themes namely, “Desert Huadao Burj Dubai”, “heartbeat moment” and “From Dubai to the world,” and finally with 1 million units as a end of the large-scale fireworks show. Burj Dubai Dubai fountain at the foot of the fountain also 275 meters height has attracted world attention. According to the organizers estimated that nearly 2 billion television viewers witnessed this historic moment.

Another attraction of the inauguration is the height of Burj Dubai(Burj Khalifa). In order to compete for the title of the world tallest building, Burj Dubai has heighten it initial designed of 560 meters to 650 meters, and then further to 705 meters, with the final design height of 819 meters. But in today’s ceremony the actual height is officially announced at 828 meters. Many comments that this is not only an incredible height, but also a difficult for others to compete it’s height.

Dream & Myth of Burj Khalifa

Dubai was first docummented as a village in 1799. Not until 1971 before the United Arab Emirates is formed, Dubai’s economy is relying on pearls export which produced a minor celebrity in the region. But today, Dubai has one of the world fashion capital

Although United Arab Emirates is an oil-rich country, but the Emirate of Dubai has proven oil reserves account for only 4% of the country’s total reserves. As a result, Dubai, with its advantages of geographical location and re-export trade, it has expedites it’s business, trade, tourism, finance and other areas of development, and gradually established its presence in the Middle East, re-export, transportation, tourism, shopping and financial center. Today, this former fishing and pearl-based small villages, have turned into the world’s fashion capital, which is synonymous with dream. Dubai in particular, out of a non-resource-consuming path of development is unique in the Middle East, has been called “Dubai model.”

“Dubai model” is the main features of a high degree of liberalization of capital markets and real estate market which is growing like crazy. Since 2000, the Dubai government and RERA Dubai began massive construction projects from the Jumeirah coastal area to the Alishan area. It was estimated that the world’s 1/4 of the construction machinery were in Dubai. Beginning in 2002, RERA Dubai has modified the Real Estate Law which allowing foreigners to own property in Dubai.

In addition, Dubai is also implementing a comprehensive tax free system. There is no import tax for any class of goods. Many luxury items in Europe that were levied heavy taxes have become a big bargain when they export to Dubai. Many of Dubai’s neighboring countries can only afford to buy Japanese car, but Dubai people able to buy luxurious European car. Rolex and Omega Swiss watch in big shopping malls are selling even cheaper than the country of origin. This series of implementation quickly attracted many investors in the world. Many world’s well-known enterprises have moved their Middle East regional headquarters to Dubai, because in Dubai they only need to pay rent without having to pay taxes. The transportation and costs of living also become not expensive due to duty-free .

At the same time, with 90% of the land are covered by desert, Dubai now has become tourists hot spot. What support Dubai tourism industry is a large number of artificial landscape: the world’s most luxurious seven-star Burj Al Arab Hotel, the world’s most beautiful man-made island “Palm Island”, the world’s largest shopping malls “Dubai Mall”, the world’s largest indoor aquarium’s “Atlantis hotel” and so on.

Almost overnight, Dubai village grew from desert to an international-class city. Many has called Dubai the “myth of the desert.”

Revival & Fading
Local media said Dubai is the pride of the United Arab Emirates, is the symbol for UAE people to pursue higher, larger and more distant goal. But the western countries has commented Burj Dubai(Burj Khalifa) as “ghost building” due to its low occupancy rate.

In 2008, Dubai property prices have up 43% in 3 months time. However, since the international financial crisis, the “Desert Myth” created by Dubai has began to burst. Property prices in Dubai has plummeted about half from the highest level in 2008 and is expected to continue to decline 30% more before reaching its bottom. Particular in 27th November 2009, when the sovereignty of the UAE-owned Dubai World companies request it creditors to defer repayment of debt due for 6 months, which has further damage the Dubai’s financial system. “Dubai model” began to be questioned.

In the current circumstances of sluggish capital markets and real estate market, Dubai government wants to stimulate and revive the old glory of Dubai with the completion of Burj Dubai tower. Generally, the local media in United Arab Emirates are optimistic with the role play by Burj Khalifa to revive the economic. Almost all has praise on the completion of the Burj Dubai, and describe it will effectively making economic revitalization.

But the Western world is not optimistic about the economy in the short term in Dubai. The American media ridiculed although Burj Khalifa is the highest in the world, but there were 30 million square meters of office space is not sold. Those owners will be lamented when they get the keys since the property that they paid has depreciated by 50%. British media even using “ghost building” to describe the Burj Dubai to ridicule its low occupancy rate.

Burj Khalifa inauguration ceremony

During the inauguration of the Dubai Tower, there is one French media sighing while viewing the gorgeous fireworks: “Dubai tower can be the beginning of revival for the local economy, but it could be a sign of decline as well. No matter how, only time will tell.”