Photos: Dubai's Plan For The World's Tallest Twin Towers Unveiled

A new announcement came this week from co-developers Dubai Holding and Emaar Properties. Their next big project on the horizon is Dubai Creek Harbour–a 1,482 acre site including a pair of towers that they hope will be the world’s tallest twinned skyscrapers.

The area planned for Dubai Creek Harbour is three times the size of Emaar’s current Downtown Dubai development, home of the Burj Khalifa, which Emaar also developed. Its location would be next to the ‘Ras Al Khor’ wetlands on the city’s waterfront at The Lagoons. With six other structures planned in addition to the twin skyscrapers, the project will also include retail, luxury hotels, and an estimated 39,000 residential units.

A statement released by Emaar says: “Planned on an open site, Dubai Creek Harbour will combine the city with the natural contours of the creek. With no legacy ties to infrastructure, this new Dubai will leapfrog many of the world’s other global cities.” The developer released its design concepts and layout without disclosing who the architects will be, though units from the first planned residential tower will hit the pre-sale market in Dubai, Abu Dhabi, London and Moscow on November 1 regardless. This first residential tower will be 40-stories, with one, two and three-bedroom units ranging from 900 to 2, 150 square feet.

There are unknowns about the twin skyscrapers as well, such as when construction will commence and what the cost of construction will be. The towers’ height also remains a mystery, though Emaar claims that they will surpass the world’s current tallest twin towers–Kuala Lumpur’s Petronas, which stand at 1,483 feet tall. The second (JW Marriott Marquis Dubai at 1,165 feet) and third (Emirates Towers at 1,165 feet and 1,014 feet) tallest twin skyscrapers are located in Dubai.

According to Ahmad Bin Byat, CEO of Dubai Holding, this pedestrian-friendly urban enclave, which is set to include healthcare centers and schools, will be “the pride of the city.” The hopes of Emaar’s chairman Mohamed Alabbar are just as high. “The residences will takes residents to the very source of Dubai’s history and provide them with a modern, luxurious, living environment,” he said  during his presentation of the master-plan.

Could this project fail to take off due to financial obstacles? Sure, that has happened before in Dubai; recall the Nakheel Tower, the Dubai City Tower, and Zaha Hadid’s Opera House. But for what it’s worth, the developer appears to be in a stable financial condition. On October 29, 2014, Emaar reported a net operating profit growth of 37% for the first 9 months of 2014 (US$ 678 million), compared to the first 9 months of 2013 (US$ 493 million). “The prime driver in our growth is the positive performance of the Dubai economy, which continues to inspire international investor confidence,” Alabbar commented. “I think all the stakeholders in Dubai in this business learned their lessons and they have matured. What it boils down to is supply and demand.”

Culled From ForbesLife