The world's tallest building, the Burj Khalifa, opened today in Dubai.
Regardless of market conditions, vacancy rates, and the financing issues associated with the project, it is an engineering marvel to behold.
The Burj Khalifa is more than TWICE as tall as the Empire State Building in New York.
But is the developer of the project, Emaar Properties, a bargain in this market? The stock trades under the ticker symbol EMAAR on the Dubai Financial Market in the UAE.
At first glance this seems like a natural pick for value investors like me. The stock is down more than 80% from its record high in 2008. The company has extensive real estate holdings all throughout the Middle East, Asia, Europe, and even in the United States.
As I write this, EMAAR trades at 4.02 Dirham (UAE) per share or $1.09 US Dollars.
Well, is it a good buy?
The answer is YES and I'll tell you why in a future post. I'll even tell you how to buy it. You can get started by reviewing some of the financial information posted on the company's investor relations page.
Robert J. Abalos, Esq.