The total cost for the project was about US $1.5 billion; and for the entire "Downtown Dubai" development, US $20 billion.[13] In March 2009, Mohamed Ali Alabbar, chairman of the project's developer, Emaar Properties, said office space pricing at Burj Khalifa reached US $4,000 per sq ft (over US $43,000 per m2) and the Armani Residences, also in Burj Khalifa, sold for US $3,500 per sq ft (over US $37,500 per m2)
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