World's Tallest Building: Dubai All Set

The world was shocked when Dubai had a debt problem. This country was easily the fastest developing place in the world for the last decade or more. It became a hotspot for business and holidays alike. Anyway, now Dubai is bouncing back on Monday by inaugurating the tallest building in the world, beating the Taipei 101 in Taiwan quite easily.

The Burj Dubai (which means Dubai Tower in Arabic) is believed to be nearly 2,700 feet or 800 meters tall. That's a big jump from its nearest rival, the Taipei 101, which stands at 1,674 feet or 508 meters. Though the official height of the Burj Dubai is still a closely guarded secret, its details will only be out today. Burj Dubai has managed to break a few other world records too, like the most floors in any building, the highest occupied floor, an observation deck on floor 124, and the tallest structure in the world, beating the television mast in North Dakota.

Bill Baker, the building's structural engineer said, "The engineers weren't sure how high they could go, and that the process was a learning experience. Saud Masud, the Head of Research and Senior Analyst, Real Estate at UBS Investment Bank in Dubai said, "We have to give them credit for an engineering feat and it's also very symbolic, it's the tallest building in the world. It speaks to the economic momentum Dubai has had, for several years now. The Burj also "puts Dubai on the map in a ironic way because real estate housing downturn, is what is responsible for the current economic down cycle."

Some apartments in the Burj sold at even USD 1,900 per square feet. It houses luxury apartments, offices, and also a hotel that has been designed by Giorgio Armani. It will be inaugurated by the ruler of Dubai, along with a fireworks show.