Posted 5:46 PM by Gene

OR:

[H]ere is the Burj Dubai's real symbolic importance: It is mostly empty, and is likely to stay that way for the foreseeable future. Though most of its 900 apartments have been sold, virtually all were bought three years ago -- near the top of the market -- and primarily as investments, not as places to live. ("A lot of those purchases were speculative," Smith, in something of an understatement, told me in a phone interview.) And there's virtually no demand in Dubai at the moment for office space. The Burj Dubai has 37 floors of office space.

Though Emaar is understandably reluctant to disclose how much of the tower is or will be occupied -- it did not reply to e-mails sent this week on that score -- it's fair to assume that like many of Dubai's new skyscrapers it is a long, long way from being full.

Who wants to bet the desert heat and the desert winds ultimately render much of the building unusable -- especially if it's unoccupied for long?

Some decent writing from LALA for once.