Burj Dubai: Work Begins on the World's Tallest Tower

Work has begun on what Emaar intends to be the tallest building on earth. Burj Dubai, rising beside Sheikh Zayed Road, will anchor an entirely new district: a planned downtown with residential towers, offices, hotels, a vast shopping mall and a lake. For a city that has made its name with ambitious projects, this is the most ambitious yet.

Why build the world's tallest tower

A record-breaking tower is about more than height. It is a statement of confidence, a magnet for global attention and a centrepiece around which an entire district can be built. Just as the Burj Al Arab changed perceptions of Dubai as a destination, Burj Dubai is intended to define the city's skyline and its identity.

The district around it

• Residential towers with views of the tower and the lake.
• A major shopping mall designed as a destination in its own right.
• Hotels and serviced residences for visitors and business travellers.
• Offices close to the financial centre and Sheikh Zayed Road.

What it means for property

The new downtown aims to become Dubai's most prestigious urban address. Apartments with views of the tower are likely to command a premium, and the district could set a new benchmark for city-centre living. Surrounding areas may also benefit as the downtown attracts businesses, visitors and residents.

Risks

Supertall towers are technically complex and expensive. Timelines can slip, and costs can rise. The downtown will take years to complete, and early residents will live amid construction. Buyers should also consider the total supply of apartments being launched in the district.

How to approach the opportunity

For buyers interested in the new downtown, the key questions are the same as for any off-plan project: the developer's track record, the specific building and unit, the view and its permanence, the payment plan and the timeline. In this case, the developer's resources and commitment are significant reassurances.

Our view

Burj Dubai and its surrounding district could become the heart of a new Dubai. It is a long-term project, but one with the potential to create one of the world's most recognisable urban addresses.