Dubai plans world’s next tallest towers

Emaar Properties, known for its futuristic approach to buildings, has unveiled plans for a new project containing two towers that will top the charts in height, making them the world’s tallest towers once completed.

Dubai Creek Harbour will boast 39,000 homes and 22 hotels, making it three times the size of its downtown area, which contains the world’s tallest building, Burj Khalifa. Emaar Properties is partnering with Dubai Holding on this project.

Six towers, retail elements, and three hotels will round out Dubai Creek Residences, the first phase of the project, with the twin towers expected to be the centerpiece of the development. The six towers, which are 40 stories tall, will become waterfront properties, and contain one, two, and three bedroom apartments ranging from 880 to 2,154 sf. Dubai Creek Harbour as a whole will encompass 6 million sm (or 1,482 acres).

Starting November 1, apartments in two of the six towers will be available for sale on a first-come first-serve basis in the following locations: Dubai, Abu Dhabi, London, and Moscow.

Chairman of Emaar Properties, Mohamed Alabbar, told The National that the current market will be able to handle this magnitude of a project. “I think all the stakeholders in Dubai in this business learnt their lessons and have matured, the buyer, seller, bank, and regulator,” said Alabbar. “What is boils down to is supply and demand.”

Alabbar also commented to Dubai Holding that the vision of the project, “was to create a dynamic city of the future that integrates smart networks, while building on the cultural heritage of our city.”

Emaar Properties has not released information about the cost of the project, funding requirements, when ground will be broken, or the architect of the project.

For more information, visit www.emaar.com.

Boyd R. Zoccola is Chair and Chief Elected Officer of BOMA International. A BOMA member since 1994, he has served on the Executive, Finance, Investment, and Medical/Healthcare Facilities Committees. An Indiana Real Estate Principal Broker and a board member of the Real Estate Round Table, he is Executive Vice President of Hokanson Companies, Inc., of Indianapolis, and has been involved in the development of $600 million worth of real estate. On a volunteer basis, Zoccola was president of Horizon House and a board member of Girls, Inc. He holds a BA in biology from Indiana University.