Aspiring Member for Dubai’s “Skyscraper Club”

Dubai Investments plans to build a new icon in the emirate: a 70-story residential tower on Sheikh Zayed Road, next to Al Habtoor City and Aykon City (ELEVATOR WORLD, May 2016), arabianbusiness.com reported. Dubai Investments CEO Khalid bin Kalban said construction will start before the end of the year. Twenty percent of the US$272-million cost has been deposited with the Real Estate Regulatory Agency, and the developer plans to have up to US$123 million financed. The Sheikh Zayed Road tower will join 10 residential structures of 70 stories or more. They are, according to the Council on Tall Buildings and Urban Habitat, Princess Tower, 23 Marin, Elite Residence, The Torch (EW, January 2014), HHR Tower (EW, October 2007), Ocean Heights, Cayan Tower (EW, January 2011 and November 2014), Sulafa Tower, Marina Pinnacle and D1 Tower. At press time, the 91-story Damac Heights (EW, May 2017) had been set to open sometime this year.