The Burj Khalifa

January 4, 2010 in News

It was announced at the official opening of the tallest building in the world that it will no longer be called the Burj Dubai, but rather the Burj Khalifa, a nod to the President of Abu Dhabi, Sheik Khalifa.

One will of course recall that just a few weeks ago, Abu Dhabi rescued Dubai from the brink of bankruptcy in the form of a desperately needed $10B infusion. The name change is unquestionably a "thank you!" to the neighboring emirate. It might even represent collateral - if Dubai defaults again, hey, at least we got a landmark! Let's hope current bondholders don't have to find out.

Perhaps they could be consoled by knowing the money was put to good use in the most amazing fireworks show ever :

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(The Burjwas last seen in TGR's most popular post to date)

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