Tuesday, January 12, 2010

Burj Dubai is Officially Open

Amid Dubai debt meltdown, Burj Dubai is officially open and was renamed after the UAE President, Burj Khalifa, last week on Monday January 4th, 2010.

For an earlier post on Burj Dubai, click here: http://wealthaspiration.blogspot.com/2009/03/worlds-tallest-building.html

During construction boom, Dubai borrowed $80 billion debt hoping to transform the economy into a regional tourism and financial hub. According to Deutsche Bank, UAE suffered the world’s steepest property slump in the global recession, with home prices dropping 50% from their 2008 peak.

Talking about Dubai brought back personal memory a little more than a decade ago. Beside a job offer I received from US based consulting company, I also had few other interviews with Singaporean, UK and UAE companies. The recruiter from UAE based company told me I could have the same salary as the US based company, except it was tax free. Finally after careful consideration, money though important, but was not the only thing in life, I pursued the offer from US based consulting company. The rest is a history.

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