Business | Property
Nakheel eyes tallest tower in the world
Nakheel is considering plans to outbuild rival Emaar Properties with a near mile-high tower, eclipsing the world's tallest building, the Burj Dubai.
- Reuters
- Published: 00:03 June 26, 2008
Dubai: Nakheel is considering plans to outbuild rival Emaar Properties with a near mile-high tower, eclipsing the world's tallest building, the Burj Dubai.
Nakheel is looking at constructing a tower "higher than the competition", Chief Financial Officer Kar Tung Quek told the Reuters Global Real Estate Summit.
The developer of about $60 billion worth of projects is finalising plans for a 1.4-km tall tower, the Middle East Economic Digest reported in its latest issue without identifying its sources.
The Burj Dubai reached 636 metres earlier this month and is expected to be over 800 metres high when it is completed in September 2009 after Emaar Properties said it would increase the height of the tower.
"We are looking at the technical and financial feasibility study of doing it," Quek said, declining to give a height for Nakheel's tower. "The higher the tower is, the slower it is to build," Quek said.
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
