Q4 2011 delivery for world’s tallest apartment tower in Dubai
Posted on 28 November 2010 with 1 comment from readers
The proud owners of some of the world’s highest apartments will take possession in the fourth quarter of next year, according to an exclusive report filed by Emirates 24/7.
The 107-floor Princess Tower in the Dubai Marina will take the title of the world’s tallest residential building from the Q1 tower on Australia’s Gold Coast. The 414-metre tower has 763 apartments.
High-rise neighborhood
It will be joined by the neighboring 381-metre Elite Residence tower by the same developer Tameer Holding, also scheduled for completion in Q4 next year. The northern corner of the Dubai Marina is packed with super-tall apartment towers, and Damac’s 84-storey Ocean Heights was handed over recently (see photo taken today).
There is naturally concern about the local market’s ability to absorb such a large number of new apartments during a recession. Around 80 per cent of apartments in the Burj Khalifa, the world’s tallest building inaugurated earlier this year, are presently understood to be empty, despite massive rental price cuts.
Tameer claims it is still selling units in the two Dubai Marina super-towers and is targeting ‘new markets’ like Nigeria, China and Russia. Company President Federico Tauber said the group was focusing on delivering seven projects in Dubai.
1 Comment posted by readers:
For those who are fascinated by height and love to be out of bounds, it would be worth exploring the opportunity to own a house in the tallest building of North India.
Standing tall at over 250 meters with 60 floors, this tallest residential building offers unprecedented levels of luxury, comforts and services. With its business centre, studio apartments, luxury apartments, penthouses, club/dance floor and open air rooftop restaurants, it is a world of experience in itself. Stylish, sophisticated and reaching for the clouds – there would not be a better place to reside!