Written by Bob Brunskill
The second-largest building in the world behind Emaar Properties' Burj tower is also set to be situated in Dubai, it has been revealed.
Reports confirmed this week that the VB 29 project, as it is currently known, will be 124 floors high and will incorporate 20 storeys of residential property, as well as a two-level podium and five-storey apartment building.
Lebanon's Arabian Construction Company has been selected to complete the tower in a contract thought to be worth around 1.46 billion dirham awarded by Dubai-based Trident International Holding.
According to Reuters, ACC has suggested the construction of VB 29 could take around two years to complete and as yet the final height of the tower - as is the case with its Burj Dubai sibling - has yet to be divulged.
The company's other projects have included the Emirates Palace Hotel in Abu Dhabi.
Reuters also pointed out that activity in the region's construction sector was gathering pace, despite the global economic downturn.