Dubai Fetes Tallest Building
Dubai hopes 2,717-foot wonder can repair reputation
By Nick McMaster,  Newser Staff
Posted Jan 4, 2010 4:07 PM CST
An Emirati man watches the city view at an observation point screen at the observation deck of the Burj Dubai tower, on Level 124 in Dubai, United Arab Emirates, Monday, Jan. 4, 2010.   (AP Photo/Kamran Jebreili)
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(Newser) – The Burj Khalifa Bin Zayed, the tallest building in the world, opened today with an extravagant ceremony involving 10,000 fireworks. The 2,717-foot, 160-story tower—originally the Burj Dubai, and renamed in honor of the president of the UAE—is expected to boost revenue for developer Emaar Properties by $1 billion in the first quarter of 2010.

"Crises come and go," Emaar's chairman proclaimed optimistically at the opening ceremony. But in the face of a larger real-estate slump and sovereign debt issues, it's unclear whether one tower, no matter how tall, can repair Dubai's reputation as a economic leader in the Arab world, the Wall Street Journal reports.

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