A latest report by Council on Tall Buildings and Urban Habitat (CTBUH) has named Dubai as being home to a fifth of the world’s tallest 100 towers.
Out of the six tallest buildings completed in 2012, four were located in Dubai. The world’s tallest hotel, the 355-meter JW Marriott Marquis, was part of these skyscrapers. The second twin tower JW Marriott Marquis will open later this year, taking the hotel’s total room inventory to 1608. The JW Marriott Marquis overshadowed Rose Reyhaan Rotana Hotel, the 72-storeyed tower on the Shaikh Zayed Road, which had held the record of being the world’s tallest hotel tower since January 2010.
The tallest residential building is also located in Dubai, with the title exchanging hands twice in 2012. Interestingly, both recipients were located in the Dubai Marina. The report states that, “early in 2012, 23 Marina earned the title of world’s tallest residential building at 393 meters. A few months later the 413-meter Princess Tower completed construction, taking the title of world’s tallest all-residential building”. Now, four of the tallest residential buildings in the world are situated in Dubai.
Dubai has consolidated its position as the City of Towers by boasting an increase in the height of towers in each category. The city now hosts 20 of the world’s tallest 100 towers, including Burj Khalifa, the world’s tallest tower. Even after the burst of property bubble in 2008, Dubai has been able to attract developers for tall building construction. The real estate market of tall towers has developed swiftly in the city, which did not have a single building over 200 meters before 1999.
In 2012, the government proposed several new projects to revive interest in the real estate market. However, 25 projects taller than 400 meters were either postponed or cancelled in Dubai due to various reasons. The private sector may face problems in raise adequate finance to complete these projects. Yet, projects worth an estimated USD 614 billion are in the pipeline in the UAE.