The cost of a square foot in some parts of the Burj Dubai has just increased to Dh13,000. ($3,500) Prices in the world’s highest tower, which is due to open by the end of 2009, start at Dh10,000 per sq ft compared to Dh4,000 just a few months ago.

The Burj Dubai’s biggest competitor in terms of price is the Palm Trump International Hotel and Tower, where the square foot rate recently topped Dh12,500.

Prices in both these towers are widely considered the highest in the UAE and are expected to top any other developments in the GCC countries, said Ali Al Rahma, CEO of real estate information website Eqaraat.com.

The Palm Jumeirah has retained first place in terms of returns as the rate has risen to more than 600 per cent over the past six years. More photos after the jump. More on Burj Dubai Price Soars Again

Emaar Hospitality, the hospitality & leisure business subsidiary of Emaar Properties PJSC, has revealed plans to launch and operate its own five star premium global brand of world-class hotels and resorts under the brand name, The Address Hotels & Resorts. Set to redefine the hospitality experience, Emaar’s global hotel brand will roll out later this year with the opening of The Address flagship hotels in Downtown Burj Dubai and another property in Dubai Marina.

The Address will progressively operate four brand extensions offering exceptional and distinct experiences within the Resort, Retreat, Urban and Business categories through properties in all markets where Emaar has a geographic footprint. The Address will also complement the existing hospitality offerings from Emaar Hospitality, currently managed by other operators. More on Emaar launches “The Address” Hotels and Resorts, a five star Luxury Hotel Brand

Any one looking through the recent announcements of world-wide luxury property investment developments could be forgiven for thinking that Dubai is the only country in the World still building new projects, and it is fair to say that Dubai appears to have plenty of room left for more. This is some of the most recent announcements.

Nakheel’s Waterfront development

is attracting a huge amount of interest, both from developers and investors, with many announcements selling out within a short space of time. Most recent, is

Cirrus’ mixed use project, Aquarius Gate

. The commercial tower at Aquarius Gate will be twenty-nine stories high, and offer panoramic views of the Arabian Gulf and the Palm Jebel Ali from its. Six glass elevators will provide uninterrupted views of the sea. (until the next water based development.) And the luxurious residential tower will offer views across the Canal, the Marina and the Palm Jebel Ali.

Burj Park Dubai

was announced last week, another luxurious waterfront development and within walking distance of the Buj Dubai and the Dubai Mall. What with the current state of traffic in Dubai, it’s fair to say walking is a sensible option.

The Burj Al Alam

, a luxury retail mall, is also planned and expected to be completed around mid-2011.

Raffles Dubai

recently joined the Al Basel consultancy network to promote their hotel in the hospitality sector.

Construction continues apace on the

Burj Dubai,

which is currently the world’s tallest building, despite the fact that it is still unfinished.

The World Islands development

recently completed the breakwater and one of the first announcements was the

luxury boutique hotel on “Greece,

” by European arcistocrat, Baron Jean Van Gysel de Meise.

Despite some suggestions that Dubai’s luxury real estate sector is headed for a crash, there seems to be no end in sight at the moment and more developments are being announced, almost on a daily basis.

Emaar Properties has unveiled Burj Park, a premium waterfront residential zone and the first of its kind within Downtown Burj Dubai, conveniently located within walking distance of Burj Dubai and The Dubai Mall. Burj Park also offers direct access to Burj Lake Promenade and to Park Island, a 25-hectare park located on an island accessible via a bridge walkway.

Burj Park homes redefine the lifestyle experience by blending elegant views and modern amenities. Many of the residences open to Burj Dubai and a vast panorama of greenery and water, including The Fountain, a monumental, world-class musical water feature incorporating choreographed music, light and projection. The Fountain forms the centerpiece of Burj Dubai Lake.

The sale of studios, and one- and two- bedroom apartments in the 50-storey Burj Park will begin on April 5, 2008 at the Downtown Living Sales Centre located with Downtown Burj Dubai. Potential customers can look forward to luxury living in a lifestyle-rich environment described as the ’soul of Dubai.’

Mr Saif Al Mansoori, Sales Director, Emaar Properties said: "Burj Park V is situated in a prime location, defined by the impressive waterfront views it offers residents. Burj Park V homes will appeal to the stylish and sophisticated, with an address where luxury is the way of life. Adding to the affluence of the community is its central location within the thriving neighborhood, Downtown Burj Dubai, which has already been recognized as a global investment destination."

Burj Park V features neo-classical architecture and modern décor designed as a collaboration between international and local architects. The interiors of every apartment are embellished with the finest furnishings, accessories and fittings. Podium level amenities include a swimming pool, children’s pool, Jacuzzi, outdoor dining area, children’s play area, fully-equipped gymnasium and club house with secure parking. The podium also has a number of apartments with private gardens overlooking Burj Dubai Lake and lush, landscaped courtyards.

Mr Al Mansoori explained: "Burj Park V offers ‘a cut above the rest’ ambience, and is a perfect complement to the vibrant lifestyle choices offered by Downtown Burj Dubai. The newest neighborhood in the city has already come to life with residential communities at The Residences and The Old Town, and with the opening of Souk Al Bahar, a shopping mall with a delectable array of dining outlets and cafes - all in an Arabesque environment." More on Burj Park Dubai Announced