The tallest residential building in the world called the Princess Tower, consisting of 107 floors, will be built in Dubai and commissioned in the fourth quarter of 2011. At the same time, another high-rise building will be commissioned - the 91-storey residential skyscraper Elite Residence. Both iconic projects are located in the popular area of Dubai Marina. Princess Tower's general developer Tameer plans to commission this 414-meter residential skyscraper with 763 apartments and the 381-meter Elite Residence skyscraper with 696 apartments in Dubai Marina, as well as the Imperial Residence housing project with 510 apartments in the Jumeirah Village South area no later than the end of 2011.
In addition, the Dubai developer plans to transfer tenants the 31-storey Silver Tower residential project, located in Dubai's business bay, and the 180-room Al Jawzaa Tower, located in International City, in the near future. In the first quarter of 2011, a 32-story Regal Tower residential project, also located in Business Bay, will be commissioned.
In order to attract foreign investors and buyers to its projects, the Tameer developer is now focusing its attention on such large and promising markets as China, Nigeria and Russia. So, for the period from January to August 2010, Russians, Chinese and Nigerians purchased from this real estate developer in the amount of AED 746 million (US $ 203 million), AED 588 million (US $ 160 million) and AED 123 million (US $ 33, 6 million), respectively. According to the Council on Tall Buildings and the Urban Environment, the world's tallest residential building to date is located in Australia, on the shores of the Gold Coast. Its height is 323 m, the number of floors - 78.
