By Andy Sambidge  www.arabianbusiness.com

Tameer Holding Investment on Sunday said the world’s tallest residential tower will be completed in December.

The Princess Tower will reach 107 storeys and stand at 414m once completed. (ITP Images)
The Princess Tower will reach 107 storeys and stand at 414m once completed. (ITP Images)

The property developer said its Princess Tower project in Dubai was on schedule and the superstructure of the project was now complete.

The tower will rise to 414m (1,358ft) and will be second only in height to the Burj Khalifa.

According to the Council on Tall Buildings and Urban Habitat, currently the tallest residential building in the world is the 78-storey Q1 tower located on the Gold Coast of Australia, which stands at 323m high.

But Princess Tower won’t hold the record for long if the 170-storey, 550m Pentominium Tower, also located in Dubai Marina and already under construction, meets its scheduled completion date of 2013.

Tameer said in a statement that interior finishing works were “progressing as scheduled” on the Dubai Marina development, which encompasses 107 floors.

Commenting on the progress of the project, Federico Tauber, president of Tameer Holding Investment, said: “Princess Tower is now in its final stages of construction and we look forward to the delivery and handover of this iconic project to our customers.

“With its imposing height of 414m and world record status, Princess Tower will become another prominent landmark for Dubai,” he added.

With a total built up area of 1.75 million sq ft, Princess Tower will house 763 luxury apartments, including one, two and three bedroom apartments plus four and five bedroom penthouses.

Eight retail units will also be provided on the ground floor of the tower.

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