Burj Dubai Renamed Burj Khalifa at Gala Opening

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(DUBAI, U.A.E.) -- The Burj Dubai was renamed Burj Khalifa tonight at the gala ceremony marking the official opening of the world's tallest building. Sheikh Mohammed Bin Rashid Al Maktoum, Ruler of Dubai and Vice President and Prime Minister of the UAE, announced that the name would honor the President of the UAE, Sheikh Khalifa Bin Zayed Al Nahyan, who is also Ruler of Abu Dhabi.

Sheikh Khalifa had nothing to do with the creation of the building named for him, but in 2009 Abu Dhabi rescued Dubai three times, first buying $10 billion in Dubai bonds, then lending $5 billion, and on December 14 making $10 billion available for payment of immediate debts.

The ceremony was attended by thousands of people who crowded around the lake and bridges surrounding Burj Khalifa and featured parachutists, fountains, and fireworks set off from neighboring buildings and finally from the Burj Khalifa itself.

After being kept secret during six years of planning and construction, the height of Burj Khalifa was revealed as 828 meters, more than the 800 estimated by industry experts. The secrecy was to deter those who might be constructing a similar tower.

In an interview today, Emaar Chairman Mohamed Alabbar said building the Burj had changed him.  "Am I a different kind of leader now? Without a doubt. I got better in many things along the way. I'm sure I made valuable mistakes but I am also becoming more emotional. I don't know if it's age or what. Or so much beating by the shareholders."

Alabbar also admitted that "maybe" he was guilty of over optimism in the past about Dubai's property market, but believes now "without a doubt" it has bottomed out.

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