Burj Khalifa - Success or Failure?: Project Management Perspective

1329 words 6 pages
Project Overview
‘Burj Khalifa’, formerly known as ‘Burj Dubai’ is currently the world’s tallest building. It is a unique & spectacular skyscraper, and an engineering marvel to set ones sight on – if one could get a complete glance without having to strain their neck. Almost a kilometer from tip-to-toe, the exquisite structure stands about 2,717 feet or 830 meters tall with total-floors amounting over 160 (Golden, 2010). Located in the heart of the fresh-metropolitan city, Dubai, the Burj Khalifa was just one part of the vast project called ‘Burj Downtown’ or ‘Downtown Dubai’, which included the world’s largest shopping mall ‘The Dubai Mall’ and various other construction projects (villas, offices, entertainment/recreational facilities,
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Although for the time being the business is still in its earlier stages, such projects require much more time than usual to recover funds & gain profits due to the hefty investments. The structure consists of a thousand or so residences/apartments which certainly require that there be enough availability of occupants in the region. There is hardly much concrete information available on how well the Burj Khalifa did or has been doing in terms of business or profits – which makes one wonder if things really look that bad for the Burj. Considering the definition of a business mainly relies on the total profits, the following points hint the failure of Burj Khalifa’s business-aspect (Proctor, 2011): 1. Although 90% of the buildings’ apartments have been sold (under unfavourable-market situations), only about 15% are occupied 2. The profits made are almost minimal; the business is only achieving ‘just above breaking-even’ profits due to the still falling market-prices in real-estate (40% drop since opening) 3. The occupancy of Burj Khalifa to reach 90-100% is still not realistic or practical due to the city’s constraints/weak-capabilities at management aspects of waste/sewage (trucks transport waste from underground holding tanks to waste/sewage treatment plants or disposals) and road-

transportation &

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