Businessman pays $20,000 for one night at NYE party pad

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A Lebanese businessman has paid AED70,000 (US$19,057) to hire a Downtown Dubai duplex to bring in the new year in style. 

The unnamed businessman will host a lavish New Year’s Eve party at the 7,000 sq ft duplex penthouse, a spokesperson for the owner of the property told Arabian Business.

The six-bedroom apartment, which boasts views overlooking the world’s tallest building, the Burj Khalifa, is owned by the Dubai-based Sahara Group, which owns a string of real estate investments across the emirate.

Looking to splash out? Here's what else you could buy with $19,000.

“People pay more in one day for VVIP tables at ordinary concerts and in my opinion, the Burj Khalifa fireworks and entertainment is by far best concert any one could wish for,” the Lebanese man said.

“The price I have paid is well spent and the networking benefits more than justifies the cost,” he added.

The apartment, which also features seven bathrooms, a billiard room, jacuzzi and sunbathing area, is currently available to rent for AED1.5m annually. “Rents are still lagging behind in area, especially after the increase in purchase value. Taking into account service fees and other costs, we believe rents should double in the coming years,” the Sahara Group said.

More than one million people are expected to attend Downtown Dubai’s New Year’s Eve celebrations this year.

The festivities are set to include Emirati Saeed Al Memari climbing – and then parachuting off - the Burj Khalifa, a live performance by the Prague Philharmonic Orchestra and a four-hour show of lasers, fire, water and music at the Dubai Fountain.

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Posted by: Mick

I think this guy spent well. Smart marketing. Great opportunity for business. Most companies spend more than this putting up a little booth crammed into GITEX next to their competition and get low level business cards.
It's no different than taking your clients golfing. Hospitality.
Good on ya! Hope it went well.

Posted by: Stef

Good for him....as long as he enjoyed it. We live once....and I'm sure I'm the one who make less money then anybody else on this post! Happy new year to u all!!! :-)

Posted by: Jebel Ali Baba

I bet this was Fadi Flat-White, well known for his immense spending on newest Apple product releases and intention to enter the Ahlan 500 in a breeze.... Maybe DJ Habibi 2000 was entertaining this illustrious party too.

Posted by: MadMax

How can he do this?? how can he not invite me :S
nice speeches guys,, which are not very real,, the money he s spent are his own,,, didn't take them from my pocket nor yours,,
enjoy man.. and don't forget your small brothers :)

Posted by: jpv

You are right. It's his business what he does with his money. If people like him stopped spending their money, the economy would come to a complete halt. The people who are whining about this would be out of their jobs.

Posted by: Basil

At a time and age where almost everywhere in the world people suffer poverty/wars/economic hardship...........sickness, oppression....someone pay so much for so little to party!! I hope he has a good answer on the day he will be asked for what he has done with the wealth that he was given!!!!!

Posted by: Thamir Ghaslan

The moment I read this article, I thought, OK... Here comes the usual self righteous dribble. Imagine my surprise when I read this.

In any event, Telcoguy and gordon nailed it!

Posted by: gordon

Basil to be fair we do not know how much he spends on charity, creating jobs and wealth.

Posted by: Telcoguy

I am sure you feel so good about your post. It shows you really care, not like this guy. Because you care, right? Then what have you personally done?

Even if the guy is doing this on a personal level (I suspect it may be business related, and then this may be quite a reasonable expense) it is his money and he is as free to spend as much as you are

Most, if not all, people posting here we are on the top quartile in terms of wealth, very likely on the top decile. That is any one of us is (probably reacher) than 75% of the world population, probably 90%... but surprisingly is the "other people" who should be doing more

So, please, keep you sanctimonious comments for yourself until you have something to show in terms of sharing your wealth, or risk being called a hypocrite, as I am doing right now

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