Local real estate developer Binghatti and jewellery brand Jacob & Co have announced plans to build the world’s tallest residential structure in Dubai’s Business Bay district.

Known as Burj Binghatti Jacob & Co Residences, the tower will comprise over 100 storeys and will have two-bedroom and three-bedroom apartments. Amenities in the building will include an infinity pool, a luxury spa and a gymnasium.

Companies recently moved onsite in Business Bay to work on a 116-storey tower in Business Bay for Binghatti. The contractor is Granada Europe Construction. The consultant is Silver Stone Engineering Consultants.

Binghatti has a project portfolio with an investment value exceeding AED7bn ($1.9bn) in Dubai. The projects are located in areas including Downtown, Business Bay, Jaddaf, Jumeira Village Circle, Dubai Silicon Oasis, Liwan and Dubailand.

MEED's November market report on the UAE includes:

• COMMENT | UAE sidesteps the global economic crunch
• GOVERNMENT | Abu Dhabi works to rebuild bridges
• ECONOMY | UAE economy strengthens growth trajectory
• BANKING | Banks make hay while the sun shines
• UPSTREAM | Adnoc makes headway with upstream projects
• DOWNSTREAM | UAE sculpts next downstream growth phase
• POWER | UAE boosts its green credentials
• WATER | UAE plans $20bn of water projects
• CONSTRUCTION | Dubai construction sows seeds of recovery
• TRANSPORT | UAE leads regional rail resurgence