Burj Binghatti will have more than 112 storeys. Photo: Burj Binghatti
Burj Binghatti will have more than 112 storeys. Photo: Burj Binghatti
Burj Binghatti will have more than 112 storeys. Photo: Burj Binghatti
Burj Binghatti will have more than 112 storeys. Photo: Burj Binghatti

How Burj Binghatti is set to become the world's tallest residential tower


Daniel Bardsley
  • English
  • Arabic

The UAE's most populous city has long been one of superlatives, but even in Dubai a residential tower topped off with a crystal-like crown of diamond-shaped spires is likely to stand out as something special.

As has recently been announced, Burj Binghatti will have “more than 112 storeys” and is set to be the world’s tallest residential tower.

It will offer, its developers say, the chance for residents to “live amidst the clouds”.

Containing what the marketing material describes as “luxurious and high-end two and three-bedroom suites and penthouses”, Burj Binghatti Jacob & Co Residences, to use the full name, is squarely aimed at those with deep pockets, as prices start at a cool Dh8 million ($2.1 million).

The development of the Business Bay tower is happening thanks to Binghatti, a Dubai-based developer of residential property, and Jacob & Co, a New York-headquartered watch and jewellery company.

In promotional material for the project, the companies say that the design for the tower is the work of Jacob Arabo, the founder of Jacob & Co and a renowned diamond designer.

“This magnificent structure represents the aspirations of humans to reach for the stars,” the companies said.

“This Hyper Tower is the new word that has been coined for the planning of this colossal tower within a prime address in Dubai.”

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Five of the tallest residential towers in the world — in pictures

  • The UAE has two of the tallest residential towers in the world. The tallest pictured above is Marina 101. Photo: Unsplash
    The UAE has two of the tallest residential towers in the world. The tallest pictured above is Marina 101. Photo: Unsplash
  • Central Park Tower stands in the center by the Steinway Tower and 432 Park Avenue along Billionaires' Row in New York City. Photo: Getty
    Central Park Tower stands in the center by the Steinway Tower and 432 Park Avenue along Billionaires' Row in New York City. Photo: Getty
  • 111 West 57th Street also known as the Steinway Tower in New York City stands at 435 meters high. Photo: Getty
    111 West 57th Street also known as the Steinway Tower in New York City stands at 435 meters high. Photo: Getty
  • 432 Park Avenue, stands in Midtown Manhattan at 425.5 meters high. Photo: Getty
    432 Park Avenue, stands in Midtown Manhattan at 425.5 meters high. Photo: Getty
  • Princess Tower stands in Dubai Marnia at 413.4 meters tall. Photo: Unsplash
    Princess Tower stands in Dubai Marnia at 413.4 meters tall. Photo: Unsplash

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To become the world’s highest residential tower, Burj Binghatti has to exceed the 472m height of the current record-holder, New York’s Central Park Tower, which has 98 above-ground storeys, along with three basement storeys. The Central Park Tower is currently the 15th-tallest building in the world.

In keeping with the ultra-luxurious lifestyle that Burj Binghatti’s developers are promoting, properties in the tower have names such as “Billionaire Penthouse”. Other apartment designs include the Fleur de Jardin Penthouse and the Astronomia Penthouse.

The developers have yet to announce when Burj Binghatti will be completed, but potential residents are expected to pay 60 per cent of the price of their property during construction, with the remaining 40 per cent required on handover.

Despite its impressive height, Burj Binghatti will be dwarfed by Burj Khalifa, the Dubai tower that remains the world’s tallest building. The tip of Burj Khalifa, which was completed in 2009 and opened in 2010, is 829.8m above ground.

Promotional images for Burj Binghatti show people relaxing at an “infinity swimming pool” — one that appears to stretch into the horizon — “overlooking the entirety of Dubai and its skylines”, with a grandstand view of Burj Khalifa.

Despite its height, Burj Khalifa is not regarded as being the world’s tallest residential tower because less than 85 per cent of it is taken up by residential properties.

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Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

BUNDESLIGA FIXTURES

Friday (UAE kick-off times)

Cologne v Hoffenheim (11.30pm)

Saturday

Hertha Berlin v RB Leipzig (6.30pm)

Schalke v Fortuna Dusseldof (6.30pm)

Mainz v Union Berlin (6.30pm)

Paderborn v Augsburg (6.30pm)

Bayern Munich v Borussia Dortmund (9.30pm)

Sunday

Borussia Monchengladbach v Werder Bremen (4.30pm)

Wolfsburg v Bayer Leverkusen (6.30pm)

SC Freiburg v Eintracht Frankfurt (9on)

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

if you go
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The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

Updated: November 27, 2022, 4:10 AM