First rents at Burj Khalifa revealed
Tower finally starts handing keys to tenants.
June 8, 2010 3:36 by Samuel Potter
Gulf News reports that the tallest tower on the planet has finally opened its doors to tenants.
The handover of Burj Khalifa residential units has begun at long last, and “the market is beginning to get a feel for how much the rent should be for the 828-metre building’s exclusive units,” says the paper.
Real estate companies have begun to advertise annual rents for a studio in Burj Khalifa at AED 140,000. One bedroom apartments are asking for between AED 180,000 and AED 260,000 and two-bedrooms start at AED 300,000.
Middle and higher floors are commanding the higher rents, says the paper.
“The asking prices are a first test of how the market responds,” Elysian Real Estate property agent Joe Le Beau told Gulf News. “We are still in the early steps, and this is a very exclusive piece of real estate.”
The likelihood of rents dropping is slim, says the paper, because owners face high service charges. A one bedroom unit of about 1,000 square feet will incur more than AED 50,000 in charges a year, it says.