Standing at 725 meters, the seven-star skyscraper will contain various “world’s highest” features.
Announced as the world’s second-tallest skyscraper, being built in Dubai by Azizi Developments, has revealed its final height, adding yet another skyscraper to the emirate’s rapidly expanding real estate market.
The current world’s second-tallest structure, the 679-meter Merdeka 118 in Kuala Lumpur, will be surpassed by the Dh6 billion ($1.63 billion) Burj Azizi, which is expected to reach a height of 725 meters with at least 131 storeys, Azizi announced on Wednesday. When it’s finished, Dubai will be home to the two tallest structures in the world, the Burj Khalifa, which stands at 828 meters.
The new tower is expected to be completed in 2028 and is situated along Sheikh Zayed Road near the Dubai World Trade Center as the construction on the project started earlier this year.
The creator and chairman of Azizi Developments, Mirwais Azizi, told The National that the Burj Azizi’s arrival to Dubai’s skyline “serves as the ultimate sign for the maturity of a market, its real estate sector and engineering prowess.”
“This development underscores Dubai’s sustained economic vibrancy and its resolute dedication to establishing novel standards in the worldwide real estate domain.”
A “seven-star hotel,” similar to the Burj Al Arab in Jumeirah, with the “world’s highest lobby” on the eleventh floor, is another feature of the Burj Azizi.
When the skyscraper is finished, according to Azizi, it will break several global records, including the highest observation deck at level 130 and the highest nightclub at level 126, as well as the highest hotel room and restaurant in Dubai at levels 118 and 122, respectively.
Due to attempts to diversify the economy, which are simultaneously bolstering the real estate sector, the property market in Dubai and the UAE as a whole has been flourishing recently.
Among these initiatives are the extension of the 10-year golden visa program, which has bolstered investor demand, and residency permits for retired and remote workers.
Demand has been particularly strong in Dubai’s luxury prime market, which set a record in 2023 when sales of properties costing $10 million or more than doubled to $7.6 billion, outperforming both London and New York, according to a report released earlier this year by Knight Frank.
According to a research released in June by the real estate brokerage Betterhomes, the emirate saw sales of 948 luxury properties in the first five months of 2024, with each transaction valued at Dh15 million or more.
According to the report, the focus of these high value deals were locations including Palm Jumeirah, Mohammed bin Rashid City, Dubai Water Canal, Tilal Al Ghaf, and Dubai Hills Estate.
The emirate is still seeing the development of luxury buildings. One such project is Sankari Properties’ $1 billion Marasi Marina, which will be completed in 2027 and have condos starting at $10 million.
When finished, the Burj Azizi will rank among the world’s five tallest structures, alongside the Burj Khalifa and the Makkah Royal Clock Tower in Saudi Arabia, which together represent the Middle East.
According to statistics from the Council on Tall Buildings and Urban Habitat, more skyscrapers from the region are planned, such as the Burj Binghatti Jacob & Co Residences, which is now under development, and the Six Senses Residences in Dubai, as well as the Burj Mubarak Al Kabir, which is being considered for Kuwait.
At roughly 1 kilometer in height, the Jeddah Tower in Saudi Arabia is anticipated to become the highest structure in the world in the future.
“The development of iconic projects signifies a forward-looking vision for the region, given the rapid pace of development across the GCC overall, which is undoubtedly most pronounced in the UAE,” Mr. Azizi stated.
With its elaborate interior design, the Burj Azizi “will embody Dubai’s spirit, celebrating the world’s seven major cultures,” he continued.
On its website, Azizi Developments states that they are building approximately 40,000 units at a cost of “several billion” dollars, with delivery anticipated by 2027.
Mohammed bin Rashid City, Palm Jumeirah, Sheikh Zayed Road, Dubai Healthcare City, Dubai South, Al Furjan, Studio City, Sports City, and Downtown Jebel Ali are just a few of the locations in Dubai where it has developed buildings.
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Source 9 September 2024 National News
