The Burj Dubai Project: A Symbol of Economic Strength or a Monument to Hubris?

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Case Details:

Case Code : PROM007
Case Length : 17 Pages
Period : 2001-2004
Organization : Eiffage TP
Pub Date : 2006
Teaching Note : Not Available
Countries : France
Industry : Construction

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts

The Rationale for the Project

In 1971, Dubai joined Abu Dhabi and four other Persian Gulf states - Sharjah, Ajman, Umm al-Quwain, and Fujaira - to form the UAE. Ras al-Khimah too soon joined the group. Over the years, the UAE became a prosperous state on the back of oil revenues and also due to the fact that it was situated on one of the main waterways of the Middle East...

The Design of the Burj Dubai

Emaar, founded in 1997, was one of the largest real estate companies in the world as of 2009 and the Middle East's largest home builder by market capitalization. The company was 31.88% owned by the Dubai government and also had foreign investors...

Other Project Features

The Burj Dubai was to be the centerpiece of 'Downtown Burj Dubai'; an urban project spread over two square kilometers. 'Downtown Burj Dubai', included the Dubai Mall (to be the largest shopping mall in the world), nine hotels, 19 residential towers, 30,000 homes, an entertainment complex, 6.2 acres of parkland, and a 30-acre manmade lake, with one of the biggest fountains in the world...

The Economic Details

Emaar announced that the total budget for the Burj Dubai was US$ 4.1 billion , while the budget for Downtown Burj Dubai was US$ 20 billion. George Efstathiou (Efstathiou), Managing Partner of SOM, said, "I've seen a lot of clients dreaming of building a supertall. Not many come to fruition, because you really have to know what you're doing...

Construction

In early 2004, bids were invited from major global contractors for constructing the Burj Dubai Tower. The US$ 871 million contract was finally awarded to a JV formed by Samsung, BESIX, and Arabtec...

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