Dubai plans higher tower than the world’s tallest building
11 Apr 2016
Dubai is set to host a tower a 'notch higher' than the Burj Khalifa, currently the tallest building in world at 828 metres. The $1-billion-skyscraper would be decked with rotating balconies and elevated landscaping, drawing inspiration of the Hanging Gardens of Babylon.
The tower is coming up at Dubai Creek Harbour, a 6-square-kilometre master development.
''We are keeping the height quiet at this stage... probably we will announce when we open the tower. It will be a notch taller than Burj Khalifa,'' Emaar Properties chairman Mohamed Alabbar said yesterday, PTI reported.
''The total cost will be $1 billion,'' he said.
''Of course, when it comes to financing a project like this, we have to think about the revenue model. A monument like this where we will have probably close to 18 usable floors with different uses and a boutique hotel at the top... the company has enough resources to fund it but I think it will probably be 50 equity and 50 debt,'' he said.
''We have our own financial and revenue models that have been checked by external consultants, financial consultants and bankers and the 50-50 is a very comfortable model for us.''
The sky-high building is scheduled for completion for the Dubai Expo 2020 trade fair in four years, when its final height would be announced, according to Alabbar.
He added that the needle-shaped tower would be anchored to the ground with cables for an ''elegant'' look, he added.
''It will be a gift to the city before 2020,'' Alabbar promised, adding, ''Many would like to have a view.''
However, according to commentators, the unusual design of the structure, with its substantial lack of usable space meant it is not likely to be widely recognised as a taller building than the Burj Khalifa, which was also designed by Emaar Properties in 2010.