EMAAR Properties, a leading real estate company in the region, has announced recently that it is to construct the world's tallest tower and set another record for the fast-growing Emirate of Dubai.
Speaking to shareholders at the annual general meeting, the company's chairman, Mohamed Ali Alabbar, said that the project, which is set to bring a whole new concept of urban engineering to the construction sector. Construction on the tower will begin this year. Alabbar credited the support of Dubai's ruling Maktoum family and particularly Dubai's crown prince and UAE minister of defence, General Shaikh Mohammed bin Rashid Al Maktoum, as a key driving factor. "The Government has approved the project and has already allocated a prime piece of land on the Sheikh Zayed Road for the Burj Dubai", Alabbar said. The new tower will be named the Burj Dubai (Dubai Tower) and will create a whole new urban space in what is now one of the region's most dynamic cities. Combining residential, commercial, hotel, entertainment and leisure outlets with open green spaces, water features, pedestrian boulevards, an old town and one of the world's largest shopping malls, this project will create a new architectural benchmark. The new development is expected to spur overall growth in economic activity by feeding the upcoming mega projects such as the Dubai International Finance Centre and the existing Dubai Internet and Media Cities and the new Knowledge Village. "It is a rational commercial response to the pipeline of large-scale infrastructure developments in the country, which will bring a new professional community to the area." explained Alabbar.