Dubai to build world's tallest tower

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, would provide an unprecedented architectural benchmark for global property developers. Construction on the tower will begin in 2003.

Mr Alabbar credited the support of Dubai's Ruling Maktoum family and particularly the Dubai Crown Prince and UAE Defence Minister, His Highness General Sheikh 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 at the Sheikh Zayed road for the Burj Dubai and has given us the motivation to think big since the world class project was initiated one year ago."

"This is testimony to the strength of EMAAR as a pioneering real estate developer and its sterling performance since its inception in 1997," said Mr Alabbar. "We have achieved consistently solid growth during this period which has allowed us to promote world class levels of innovation."

Mr Alabbar said that the tower, to be known as Burj Dubai (Dubai Tower in English) will create a whole new urban space in what is now one of the region's most dynamic cities and home to more than 100 nationalities.

"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 landmark - a city within a city," he said.

Mr Alabbar further explained that the development would 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. This community will create a significant new demand in terms of both work, residential and leisure facilities and space - we are pre-empting that demand," he commented. For further information on the project interested parties may call the Toll Free number 800-4990.

Dubai has long stood out as something of an architectural pioneer in the region forging ahead with landmark projects such as Dubai Marina (the world's largest man made marina with a 11 kms long promenade), Palm Island (the world's largest man made island), and Burj Al Arab (the world's first seven star hotel).

Currently the world's highest man made towers include the two Petronas Towers in Malaysia (452 meters) and the Chicago's Sears Tower (442 meters). China now has plans to build the Shanghai World Financial Center to stand some 492 meters and due to be completed by 2007. However, Burj Dubai is set to raise the stakes in the global race to scrape the sky with a tower that will dwarf all existing structures.

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