Dubai’s new $1bn tower will top Burj Khalifa

The Santiago Calatrava-designed tower that will be the centrepiece of the Dubai Creek Harbour megaproject will be taller than the Burj Khalifa and cost in the region of $1bn to build, it was revealed today.

The exact height of the as yet unnamed tower is being kept under wraps for now but it should be “a notch” taller than the world’s tallest building, Mohamed Alabbar, chairman of master developer Emaar Properties said at a press conference to unveil more details of the project which was first announced in February.

Officially no deadline has been set for the completion of the tower although the idea is for it be a “gift to the city for 2020”, Alabbar said while flanked by superstar Spanish architect Santiago Calatrava Valls.

The tower itself will be around 30 metres in diameter and will be located at the heart of a plaza measuring 500 metres across.

There will be three main elements to the building: the foundations, a concrete core and the cables that will hold the structure in place. Stainless steel and glass will be used in the cladding while the stainless steel pinnacle will be built separately and transported to the site.

Within the building there will be a boutique hotel near the top, gardens, observation deck with 360 degree views of Dubai.

Emaar is looking to tender the project by the end of June or July, Alabbar said. Project financing will on a 50/50 debt to equity basis.

Both Alabbar and Calatrava drew parallels between the tower and the iconic status of the Eiffel Tower in Paris.

At 6 square kilometres, the entire Dubai Creek Harbour project next to the Ras Al Khor wild life sanctuary on the creek will be around two and a half times the size of Downtown Dubai, a project that was also mastered by Emaar.