Taipei 101 is to lose its “World's Tallest Building” title come December of this year. According to Taiwan Eastern TV News Online reports on August 30th, Dubai Tower (Burj Dubai), which had started constructions in 2004 led by South Korean's Samsung Engineering & Construction, is due to be ready for occupancy by the end of this year.
The towering skyscraper has 162 floors in total and reaches a height of 818 meters – overtaking Taipei 101 by 310 meters in total. Supreme height isn't all that is “priceless” about the super-tall tower in Dubai: fashion guru Armani is to open his first luxury hotel there; a two-room luxury residential apartment in the tower is tagged at about 10 million RMB – unmistakably representative of Dubai's high-end living.
When all is said and done, Dubai Tower is not only after the “World's Tallest Building” title: it has been designed as a centerpiece of a major construction development plan that is to include a huge shopping mall, luxury resorts hotels, villa-style condos and man-made lakes and ponds to entertain investors looking to fulfill their construction dreams. As the world slumps in its economic recession, this “sparkling” area around the Dubai Tower is set to expand. Mr. Qiang, a real estate consultant commented, “Even as real-estate prices fall and stagger elsewhere in the Middle East, this construction plan around Dubai Tower will prove to be resilient.”
With the Dubai Tower nearing completion, the surrounding projects and real-estate developments are undoubtedly feeling the lift and continuing to make a turnaround in the markets. However, many economic analysts still remain doubtful about whether this high-end Tower will actually hold on as a turning point for United Arab Emirates' economy for the better or if it will fade away as media interest surrounding the world’s tallest building dwindles over time.
Read the original in Chinese at gcpnews.com
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