If you missed Dubai's January formal opening of the world's tallest building, the Burj Dubai –uh, the Burj Khalifa, you missed the most dramatic marketing event since the Babylonians constructed the Burj Babil (tower of Babel).

It was a 'shock and awe' rebranding moment like the world may never see again. During the six years it took to build and launch Dubai's new 2,717-foot icon, it was known as Burj Dubai (Dubai Tower). In less than 60 seconds, standing before an international television audience, Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, and Ruler of Dubai changed the name from Burj Dubai to Burj Khalifa.

To many American marketing experts rebranding the Burj Dubai probably makes no sense. Changing names of major brands costs millions of dollars and takes months and years to take root.

However, nothing comes cheap or without risk these days, especially in the UAE.

Just a few days before the formal opening, Sheikh Khalifa authorized a last minute $10-billion bailout for Dubai, adding to the $10 billion provided earlier.

Was the name change negotiated as part of the $20 billion in bailout funds provided to Dubai, or was it done as a gracious "thank you" by Sheikh Mohammed? On the surface it appears to be the world's largest 'thank you.' Was it was done to honor the name of the president of the United Arab Emirates and ruler of Abu Dhabi, Sheikh Khalifa bin Zayed al-Nayan and to thank him for the $20 billion in bailouts? As of yet there has been no definitive official announcement.

One can only imagine a possible discussion between the two powerful rulers:

Sheikh Khalifa: "Let's assume I can find the $10 billion you need within a few hours and I can authorize it during this meeting."

Sheikh Mohammed: "That would be a most accurate and gracious assumption."

Sheikh Khalifa: Before we get to that, how do you feel about the name "Burj Dubai?"

Sheikh Mohammed: "We love the name. What better name to define and market our great city?"

Sheikh Khalifa: "It is indeed a great name, but one that is about to draw the world's attention to the fact that you are going through a major bankruptcy. Not good."

Sheikh Mohammed: Yes, I had thought about that. That is why I am here. The matter is most urgent. Neither of us wants that for our country. Do you have something in mind?

Sheikh Khalifa: "I might. Twenty billion is a lot of money. What would you think of changing the name to Burj Abu Dhabi?

Sheikh Mohammed: "Uhhh…Abu Dhabi? I am, of course, reluctantly open to change the name of this magnificent structure, but the name Burj Abu Dhabi may result in unintentional collateral damage to the location, because it is located in Dubai."

Sheikh Khalifa: "You make a good point. Perhaps another name. There must be another name to consider. Unfortunately we have no time for focus groups. I will leave the decision up to you."

Sheikh Mohammed: "You are most gracious. I have an idea for a name that might work, but will share it with you at the appropriate time. I will give you one hint: Your attendance at the Burj opening will not be requested. It will only cause a distraction."

With that, Sheikh Mohammed is promised the $10 billion dollar bailout funds, and Sheikh Khalifa is promised a wonderful gift in return. And the Burj Dubai, with the stroke of a pen by Sheikh Khalifa authorizing the $10 billion in bailout funds and with the spoken word of Sheikh Mohammed announcing the name change, Burj Dubai became Burj Khalifa.

There is no way to know which or if either Sheikh suggested the name change or how it was brought up, but on a serious note, it must have been a most difficult time for both. Whether the name change was the result of brilliant negotiations by Sheikh Khalifa and/or a most generous and gracious act by Sheikh Mohammed the world may one day know. But it will be a branding story for the ages.

Published: February 18, 2010

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David Fletcher has been a Florida real estate condominium and new homes broker for 30 years with more than $3 billion in new construction sales. In 2008, Keller Williams Realty International named him a "Lifetime Achiever." Along the way he has chaired the Florida Homebuilders Associaiton Sales and Marketing Council, trained thousands of general agents and on-site agents to work together, and was a featured speaker at the National Association of Realtors. Recently he founded New Homes Niche, a builder-certified co-broker training system "to meet the growing trend we see in short sale buyers moving to new homes for a lot of reasons." Call David at 407 234 2349, , and visit his website.