Closing

The closing of the Burj Dubai project did not go as planned. This was due to the delays that were experienced as a result of the impending economic crisis. The inauguration of the building was done in 4^th January 2010. During the inauguration, the closure of the project was communicated to all the stakeholders. Contracts that pertained to the suppliers and other relevant contractors were terminated during this period. The rooms that had been constructed were released to the individuals that had booked and paid for them. This was for both the clients that had paid for residential and commercial spaces.

Expectations

By the time Burj Dubai project was being closed, it had not met most of the expectations that the shareholders had envisioned. There are those people that bought the space at the building with the objective of making investments. This aspect was not likely to materialize since the real estate market prices in Dubai had plunged by around 50-60%. The building had also failed to meet its objectives in terms of cost and time. More time and funds were involved than what had been anticipated by the shareholders. However, the building can still be regarded as a success since it actualized the prospect of being the tallest building in the world. This aspect ensures that it attracts a substantial number of tourists as it was expected.

 
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