Emaar Properties unveiled 'The Tower' worth $1 billion in its Dubai Creek Harbour development and the tower will be taller than Burj Khalifa.
Burj Khalifa is the tallest building in the world and its height goes up to 828 meters.
Emaar Properties Chairman Mohamed Alabbar said that the new observation tower would be "a notch" taller than the Burj Khalifa. It is due to open by the time Dubai hosts the World Expo in 2020.
The new mega retail district, which will be launched in 2 months, will be linked to The Tower, Alabbar told reporters.
The chairman said: "The Tower in Dubai Creek Harbour is our tribute to the positivity, energy and optimism that Dubai and the UAE celebrate, led by a leadership committed to all-around progress.
The Tower serves as the vibrant core of Dubai Creek Harbour, a 6 sq. km world-class master planned development that is two times the size of Downtown Dubai and located 10 minutes form the Dubai International airport. The waterfront development is centered off the Dubai Creek, the cradle of Dubai's history and culture, and in close proximity to the Ras Al Khor National Wildlife Sanctuary, protected under the Enesco Ramsar Convention and home to over 67 species of water birds.
The new tower is designed by Spanish-Swiss architect Santiago Calatrava Valls will not be a traditional skyscraper but more of a cable-supported spire containing observation decks, hanging garden and possibly other tourist facilities.
With over 6.79 million sq m of residential space, 11.16 million sq m of retail precincts, 851,000 sq m of commercial property and 22 hotels with 4,400 rooms, Dubai Creek Harbour serves as a strong economic catalyst for Dubai.