New Delhi, July 24 (): Out of the 900 apartments in Burj Khalifa, the world’s tallest tower in Gulf ,more than 150 are owned by Indians says an official from EMAAR who built this. Said to be the poshest address in the Gulf, at this rate it will soon turn into a building with majority of Indians as residents.
Dubai’s 828-metre skyscraper,now a sign of Arab money power will soon be a sign of the growing financial power of the Indian community in the West Asia. Since its completion in 2010 ,Indians have bought between 100 and 150 apartments, revealed an executive of project developer Emaar Properties.
After the slump in 2008, Dubai is now the destination for Indians looking forward to invest in this region. Majority of the real estate agents and firms say that more than 50% of the clients are from India.
Prominent Indians who have apartments in Burj Khalifa include actors Mohanlal, Shilpa Shetty and her entrepreneur husband Raj Kundra and lawyer Rohit Kochhar. BR Shetty, owner of the Emirates NMC Hospital and UAE Exchange, bought the entire 100th floor, while NV George, who owns 14% stake in the Kochi International Airport, has bought seven apartments which he has rented out and recently sold two for a 50% profit.
It is a huge status symbol to own an apartment in the building for Delhi based lawyer Kochhar; he invites clients to the exclusive owners’ lounge on the 123rd floor.
Burj Khalifa’s current rate is Rs 35000-45000 while in South Bombay Peddar area it is Rs 70,000 –Rs1,00,000 per sq ft. In South Delhi Shanti Niketan, the price is around Rs 80,000 per sq ft touching up to Rs 90000.Going by these rates Burj Khalifa is a cheap buy.