World’s Tallest Building, Burj Dubai, Opens

DUBAI, United Arab Emirates—Leaders of the crisis-hit emirate of Dubai will today officially open the world's tallest building, the Burj Dubai.

The spire, which rises more than 800 meters (2,625 feet) high, is twice the height of the Empire State Building and is clad in 26,000 glass panels.

It will be inaugurated on Monday evening by Dubai's billionaire ruler, Sheikh Mohammed Bin Rashid Al Maktoum, five years after excavation work started.

Although the exact height of the US$1.5 billion tower is a closely guarded secret, it far exceeds that of the previous record holder, Taipei 101.

The inauguration comes after Dubai has been hit by a debt crisis and was bailed out by the oil-rich neighboring emirate of Abu Dhabi.

The Burj Dubai also lays claim to the highest occupied floor, the tallest service lift, and the world's highest observation deck—on the 124th floor.

Emaar, the state-owned developer behind the project, has developed a downtown area surrounding the building—which includes a mall with 1,200 shops, the world's largest fountain, and a Disney-esque residential area that evokes the architecture of old Arabia.

"Crises come and go, and cities move on," said Mohamed Alabbar, chairman of Emaar Properties, who has been described as 'the Middle East's answer to Donald Trump.’

"You have to move on. Because if you stop taking decisions, you stop growing."