By 2020, slice the United Arab Emirates, will be built the tallest building in the world, which is 100 meters will exceed 828-meter skyscraper Burj Khalifa, also located in Dubai.
The construction of a new skyscraper The Tower to severities by 2020 and will cost the Treasury $1 billion. the Author of The Tower was made by Spanish architect Santiago Calatrava, known for his re-let unit World Trade Center in new York.
By the end of this year, the growth rate of the UAE economy, including construction industry, expected at 2.6%, which will be the lowest indicator since 2010. In 2016, property prices in the country probably will lose about 7%. By the end of 2017, experts expect the acceleration of their fall to 10%.
Public investment aimed at the project, will distribute Emaar Properties PJSC, already owning the previous skyscraper record-holder Burj Khalifa, and Dubai Holding LLC, whose majority shareholder with a share of 99.67% is a Vice President of the UAE and Emir of Dubai Mohammed bin Rashid al Maktoum.