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Located in Dubai city of United Arab Emirates (UAE) Burj Khalifa Burj Khalifa is not only an unmatched wonder of modern architecture and civil engineering, but it is also the largest center of global tourism and real estate. Standing 828 meters (2,716.5 ft) high and with 163 floors, this skyscraper is the tallest man-made structure in the world. Officially inaugurated on 4 January 2010, the building put Dubai on the world map as a luxury and business hub. But have you ever wondered who is the real owner of such a huge and grand building and how much income this building earns daily and annually?
Who is the real owner of Burj Khalifa? (Who Owns Burj Khalifa?)
Generally people think that Burj Khalifa is the private property of an individual or the Sultan, but in reality it is owned by the largest real estate and development company of the United Arab Emirates. Emaar Properties PJSC is near.
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Company Foundation: Emaar Properties founded in 1997 by billionaire businessman Mohammed Alabbar Did it.
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Government and Public Shareholding: Emaar Properties is a public joint-stock company listed on the Dubai Financial Market (DFM). The largest shareholding in this is the Sovereign Investment Fund of the Government of Dubai. Investment Corporation of Dubai (ICD) And is owned by the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum.
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History of naming: At the time of construction, this project was named ‘Burj Dubai’. It was renamed ‘Burj Khalifa’ in honor of Sheikh Khalifa bin Zayed Al Nahyan, the then President of Abu Dhabi and Ruler of the UAE, who provided financial assistance to Dubai during the global economic crisis of 2008–2009.
How much did it cost to build Burj Khalifa?
The work of designing Burj Khalifa was done by Adrian Smith, chief architect of the famous American architecture firm Skidmore, Owings & Merrill (SOM). A joint venture of Samsung C&T of South Korea, Besix of Belgium and Arabtec of UAE was involved in its construction. It was completed after six years of hard work by more than 12,000 engineers and workers. It took approximately 1.5 billion US dollars (about more than Rs 12,500 crore in Indian currency) The total cost was Rs.
How much and where does Burj Khalifa earn from? (Major Revenue Streams)
According to financial analysts and real estate reports, Burj Khalifa earns an average of Rs. $300 million to $450 million (approximately Rs 2,500 crore to Rs 3,800 crore) Generates gross revenue of Rs. The 6 major sources of this huge earning are as follows:
1. Observation Deck Tickets (At The Top)
Every year millions of tourists from all over the world come to see the observation decks ‘At the Top’ and ‘At the Top Sky’ built on the 124th, 125th and 148th floors of Burj Khalifa.
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General entry tickets cost around ₹3,500 to ₹6,000 per person.
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Tickets for the VIP lounge and the 148th floor sell for ₹10,000 to ₹15,000.
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Burj Khalifa generates over $100 million in direct revenue each year from ticket sales alone.
2. Armani Hotel and Luxury Hospitality (Armani Hotel Dubai)
Signature of world famous fashion designer Giorgio Armani on the lower 8 floors and 38th and 39th floors of Burj Khalifa. Armani Hotel Dubai Is situated. It has 160 ultra-luxury guest rooms and suites. Apart from this it includes world-class dining restaurant, spa and banquet hall. Rates for a night’s stay here start from ₹60,000 and go up to ₹8 lakh to ₹15 lakh per night for presidential suites.
3. Maintenance and sale of private residence and penthouse (Luxury Apartments)
Burj Khalifa has more than 900 ultra-luxury residential apartments.
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Rich industrialists, Hollywood and Bollywood celebrities from all over the world have bought flats here.
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Emaar Properties earns huge brokerage and transfer fees on the sale and re-sale of these apartments.
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Moreover, the owners of these flats have to pay huge sums of money annually. Service and maintenance charges (Approximately $15 to $25 per square foot), which generates fixed income worth crores of rupees every year.
4. Corporate Office and Commercial Leases
The 37 floors of Burj Khalifa have been reserved for corporate suites and offices of international multinational companies. The world’s reputed financial and technology companies lease office space here for their headquarters. Since its address is a symbol of global prestige, its commercial rent is many times higher than the general market rate of Dubai.
5. Earning from exterior LED lighting and advertisements (Façade Advertising)
The world’s largest LED screen installed on the exterior of Burj Khalifa is a great medium for advertisements and brand promotion.
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For a 3-minute display of a movie trailer, a tech company’s new product or a country’s national day, companies are almost 2.5 lakh to 3.5 lakh dirhams (approximately ₹60 lakh to ₹80 lakh) Pays up to.
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On peak occasions like weekends or New Year, this rate reaches 5 lakh dirhams (₹1.15 crore) per 3 minutes.
6. World’s tallest restaurant ‘Atmosphere’
Situated on the 122nd floor i.e. at a height of 442 meters from the ground, ‘Atmosphere’ is one of the highest dining restaurants in the world. Dining and high-tea here require booking weeks in advance, with the minimum cost per person ranging from ₹10,000 to ₹25,000.
Growth engine of Dubai’s entire economy
Burj Khalifa not only generates revenue from within itself, but it also acts as an ‘economic magnet’ for the entire Downtown Dubai area. located right in front of The Dubai Mall And dubai fountain It has become the world’s most visited retail and entertainment destination. The property values of all the nearby hotels, residential towers and retail shops sell at a 30 to 50 percent premium due to the views of Burj Khalifa.
Thus, for Emaar Properties and the Government of Dubai, Burj Khalifa is not just a concrete building, but an eternal revenue engine that is attracting international capital and tourism every second.