Dubai Sightseeing Archives –

Dubai Sightseeing Archives –

Princess Tower Dubai: Tallest Residential Skyscraper in the World

In September 2012, Tameer Holdings, a Dubai developer, completed the world’s tallest residential building. This Dubai property stands 414 metres (1358 ft.) high. Located in the Dubai Marina, the Princess Tower consists of 101 stories filled with 763 one, two and three bedroom luxury units as well as a penthouse, and several duplex villas.  The 110 ton decorative crown at its top is made of aluminum and steel.

This amazing structure also houses 957 underground parking bays spread over 6 floors underground,  8 retail outlets, 13 elevators, several swimming pools, a gymnasium, sauna club, a children’s day care nursery, and a mosque for exclusive use by its residents. On the 97th floor, is a dedicated recreational area which offers stupendous panoramic views of the Marina and the Dubai skyline. Here residents can organize a variety of social activities for their family, friends, and business associates. With flexible partitions, there is no need to worry about double bookings.

Its design of wide open corridors and green-covered balconies makes this attractive high-rise stand out. All the 763 apartments in this Dubai property are light and airy with natural sunlight from all sides and floor plans that decrease the need for dependence on air conditioning, something almost unheard of in this desert climate.

Construction on the Princess Tower started in 2005, just as the Dubai’s real estate market was heating up, and even with the economic downturn of 2009, Tameer delivered the tallest residential property in Dubai , and the world,  in seven years at a cost of $210 million.

Federico Tauber, president of developer Tameer has been quoted as saying, “In a city of skyscrapers it is still an extremely satisfying feeling to have completed yet another record-breaking project. Princess Tower is now the tallest residential building in the entire world and its iconic status as a residential super-high rise makes it a very prestigious and sought-after address to live in.”

Since the 2009 financial crisis, prices had dropped more than half with an average selling price of 950 Dhs. / m². Its service rates, aka homeowner fees, have been set at 10 Dhs. / m², far below many of the other residential high-rise buildings in the area, making the Princess Tower more affordable.

The Princess Tower has now surpassed The Torch, standing 337 metres high and located just a few blocks away, for the record of tallest residential skyscraper. And as far as its ranking in overall buildings, Princess Tower is rated as the 14th tallest building in the world, 3rd tallest in the Middle East, and 2nd tallest in Dubai, only to be overshadowed by the infamous Burj Khalifa.

But watch out, in the ever competing, ever changing city of Dubai, the Princess Tower may not hold its title for long if the Pentominium project is ever completed. The Pentominium, upon completion would stand 516 metres high, surpassing the Princess Tower by over 100 metres.

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