By Elizabeth Broomhall
But the tower will soon be overtaken by an even bigger residential building
Dubai-based developer Tameer has announced that the world’s tallest residential tower will be completed by Q4 of next year, though it will soon be overtaken by another tower almost double its size.
The Princess Tower, which is currently under construction and located in Dubai Marina, will reach 107 storeys and stand at 414m once completed in 2011, offering 763 residential units to buyers.
But it won’t hold the record for long if the 170-storey, 550m Pentominium Tower, also located in Dubai Marina and already under construction, meets its scheduled completion date of 2013.
According to the Council on Tall Buildings and Urban Habitat, currently the tallest residential building in the world is the 78-storey Q1 tower located on the Gold Coast of Australia, which stands at 323m high.
Also in the fourth quarter of next year, Tameer’s sister tower, Elite Residence, situated nearby and with a total of 91 floors, will be completed and ready for handover, adding to Tameer’s portfolio of completed projects after a period of turbulent times.
Both towers were originally scheduled to complete in Q3, but have been affected by delays and payment problems during the recession.
“The recession has had an impact, I would be lying if I said otherwise,” said Tameer’s chief development officer John Zwets in an earlier interview with Construction Week.
Speaking about the company’s plans for the time being, he added: “Like all developers in region, and probably across the world, Tameer is focusing on delivering its existing projects, rather than starting new ones. I don’t know if the market is ready for new buildings at the moment.”
In line with this business model, Tameer will also be handing over the 31 storey Silver Tower in Business Bay and 180-unit Al Jawzaa Tower in International City by the end of this year, as well as the 32 storey Regal Tower in Business Bay in Q1 of 2011 and Imperial Residence in Jumeirah Village South by Q4.
All well and good, but who is going to live in it??
It will become world wonder and good for UAE.Another record broken by UAE Construction Industries like World heighest building(Burj Khalifa),Palm Jumeira(8th wonder),3rd biggest Mosque etc.