The Burj Dubai, set to become the world's tallest building when it is completed in 2009, and the Trump Tower, dubbed as potentially the most luxurious building in the world, are competing to break records.
This week the Burj Dubai is on top with pre-sales of luxury real estate having overtaken those at the Trump International Hotel & Tower on the Palm Jumeirah, with prices rising to a record $3,540 per square foot.
The cost of a square foot in some parts of the Burj Dubai have now more than tripled from $1,089 a few months ago. At Trump tower the cost is currently $3,267 per square foot.
'Prices in the Burj Dubai and Trump Tower are widely considered to be the highest in the UAE,' said Ali Al Rahma, CEO of real estate information website Eqaraat.com.
It seems there is no stopping demand. Burj Dubai is the centrepiece of the $20 billion Downtown Burj Dubai project, which includes 30,000 apartments, nine hotels, 19 residential towers, Dubai Mall and a huge artificial lake.
It will also house the first Armani Hotel and Residences, previously deemed the most expensive in the city with prices up to $2,858 per square foot.
Emaar Properties, developer of the Burj Dubai, has not disclosed the tower's final height, which currently stands at more than 630 metres.
The Trump Tower, regarded as one of the most luxurious commercial building in Dubai, will be based at the centre of the Golden Mile, located on the trunk of the Palm Jumeirah.
The 48-storey mixed-use building, in the shape of a split linked tower with an open core design, will have a 300-room five-star hotel and 360 freehold residential apartments. The amenities will include exclusive access to a private beach and yacht club with tennis courts, gym and fitness centre, pools and gardens.
The ambitious $600 million project is the first joint venture between Nakheel and the Trump Organisation, whose president and chairman is Donald Trump.
