8.15 PM Thursday, 28 March 2024
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:57 06:11 12:27 15:53 18:37 19:51
28 March 2024

Two units in Burj Khalifa to go under hammer online

Published
By Parag Deulgaonkar

Two apartments in Burj Khalifa, the world’s tallest tower, will be auctioned online next week, according to listings by Emirates Auction.

The reserve price for the one-bed unit (1,378 square feet) starts at Dh4.85 million, while the minimum price for the two-bed (1887.99 square feet) is put at Dh6.3 million.

The minimum bid increment is Dh5,000, Emirates Auction states.

The auction closes at 6 pm UAE time on November 5. At the time of filing this report (11.25 am) on Thursday, there were no bids on both the units.

Emirates 24|7 had reported earlier that an apartment sold in Burj Khalifa topped the list of the 10 biggest apartment deals completed in the first quarter 2014 with a 11,355 square feet unit selling for Dh60 million (Dh5,284 per square feet).

In 2008, Mohamed Ali Alabbar, Chairman, Emaar Properties, had said that apartments in Burj Khalifa were selling for over Dh10,000 per square feet (psf), but prices had fallen to a low of Dh2,400 psf in 2009-10 following the global economic crisis.

The 2,717-feet Burj Khalifa has 900 studio, one-, two-, three- and four-bedroom apartments, while there are 144 private Armani Residences. It currently houses the higher observation deck in the world (148th floor, 555 metres from the ground).

Emirates Auction sells these properties on the “auction order” of Dubai Court, the company states.