The new tower that developer Emaar Properties plans to build at its Dubai Creek Harbour Tower development will be at least 928 metres tall.
Emaar Properties chairman Mohammed Alabbar said the tower would be 100 metres taller than the worlds tallest building as of now, Burj Khalifa, which has a total height of 828 metres.
Alabbar also said he plans to break ground on the site in July.
Work on the foundations package will start first and the substructure will take about a year to complete.
Tendering for the superstructure will start once work on the foundations has begun. Sources close to the scheme say the core, the steel frame and the cables are likely to be let as one main construction package.
Speaking in April, Alabbar said the building will cost about $1bn to construct and will be completed in time for the 2020 Expo. US news agency Bloomberg has reported that Emaar is considering an international bond issue. Any funds raised could help fund the construction of the tower, which, unlike many other Emaar tower schemes, cannot be financed with off-plan sales as the tower only has 18-20 useable floors.
The tower is being designed by Spains Santiago Calatrava. The engineer is the local office of Aurecon.
In an interview with US TV news agency CNN, Alabbar also confirmed that the mall at Dubai Creek Harbour will be twice the size of Dubai Mall. He said it will have 12 million square metres whereas Dubai Mall has 5.5 million sq m.
MEED reported in April that although the mall will be twice the size of Dubai Mall, it will not duplicate it.
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For the past few years it has been generally accepted that Saudi Arabias Jeddah tower will replace Dubais Burj Khalifa as the worlds tallest building.
The tower, which is expected to be 1,008 metres tall when completed, has had no real rival scheme, and as the China demand-fuelled global commodity super cycle comes to an end it appeared unlikely the tower would have any challengers for the foreseeable future. Read more