Nahkeel Plans to Eclipse Burj Dubai Tower, World's Tallest Building

Nahkeel announced Wednesday that it is considering plans to build a tower that will eclipse the Burj Dubai, the world's tallest building.

Nahkeel, which has about $60 billion worth of projects, is finalizing plans for a tower that will stand 0.87 miles tall, according to the Middle East Economic Digest.

The Burj Dubai reached 0.395 miles earlier this month and is expected to be over .5 miles high when Emaar Properties completes the tower in September 2009.

The Burj Dubai tower will have world's highest elevator installation and also the world's largest shopping mall, The Dubai Mall. The Burj Dubai tower was designed by Skidmore, Owings and Merrill, who also designed the Sears Tower in Chicago and the Freedom Tower in New York City.

State-owned Nakheel is best known for building artificial palm-shaped islands off the coast of Dubai known simply as the "Palm Islands".

In other Dubai real estate news, New York-based Dynamic Group, owned by David Fisher, announced plans to build "world's first building in motion.” The 80-story Dynamic Tower will also be the first skyscraper constructed from prefabricated units.

Apartments will sell for about $3,000 per square foot, making each unit range in price from about $4 million to $40 million. Work on the tower is to be completed by 2010, according to Dynamic Group Web site.

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