Tuesday, October 07, 2008

Nakheel unveils plan for a new world's tallest tower

Nakheel Tallest Tower
Just a day prior to the launch of Cityscape Dubai 2008, the leading Dubai-based property developer Nakheel, announced plans to create a new record by building a tower that is about a kilometre in height, thereby competing with the friendly-rival Emaar Properties.

The tower will form a part of Dh.140bn project, which will include the world's first inner city harbour, an official of the company said.

Emaar's Burj Dubai, which is currently the tallest tower in the world, standing high over 630 metres, is likely to touch 900 metres on completion will be ready by early 2009. The company is yet to reveal the final height of the building.

A huge model of the structure was unveiled during a launch event on Sunday night, amidst the presence of Hollywood movie stars Michael Douglas and Catherine Zeta Jones.

The Chief Executive Chris O'Donnell of the Nakheel Harbour and Tower said that it will be an ambitious and innovative tower, which will be funded through a combination of private land sales and other project financing.

Located along the intersection of Sheikh Zayed Road and the $11bn Arabian Canal, currently under construction, it will cover an area of more than 270 hectares, and will be home to a population of 55000. It will include four towers in a single structure, connected by the sky bridges.

According to Nakheel the project will take about 10 years for completion, but few of these may come up a little earlier than expected. It will have about 19000 residential apartments, ranging from affordable family homes to exclusive penthouses.

The high-speed shuttle lifts will make way for visitors to enjoy the sunset from the bottom and again from the top of the tower.

Nakheel plans to build a 1200 meter high-tower is likely to come up along the Arabian Canal.

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