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THE RACE TO THE TOP!

Property News

THE RACE TO THE TOP!

The new building will have a competition from the 1,000 meter high Kingdom Tower in Jeddah, as of now under development, for the 'tallest on the planet' title, which will surpass the height of the Burj Khalifa (828m).

It will also feature at completely coated rotating balconies that augment outward, rotating outside the skin of the tower, and a boutique hotel for guests.

The Tower was planned by Spanish designer Santiago Calatrava, the man behind Rio de Janeiro's Museum of Tomorrow, Athen's Olympic Sports Complex, and Malmö's Turning Torso Tower.

Calatrava was picked by Sheik Mohammed bin Rashid Al Maktoum, Ruler of Dubai, from a worldwide configuration pitch for the new tower.

Mohamed Alabbar, administrator of Emaar Properties, said of the uncover, "With The Tower, we are conveying a convincing destination that will increase the value of Dubai and the UAE. It will likewise position Dubai Creek Harbor as one of the most desired residential, leisure and touristic attractions, providing visitors and residents with a modern, luxurious and sustainable environment in which to live, work, learn and entertain.”   

The Tower will be a piece of the Dubai Creek Harbor, a 6 sq. km.development double the size of Emaar's Downtown Dubai. It's in the centre off the Dubai Creek, not far away from Ras Al Khor National Wildlife Sanctuary, secured under the UNESCO Ramsar Convention and home to more than 67 types of water birds.

Funding for the $1 billion undertaking will be 50 percent value and 50 percent obligation.

The balance between supply and demand is very encouraging, Alabbar said. He declined to give figures, but said: "I don't see a pullback. We are doing better than 2015."

The Tower at Dubai Creek date of completion should be before the Dubai Expo trad fair in 2020, that year that the Kingdom Tower in Jeddah should of be done.



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