Nakheel Tower

The Nakheel Tower in Dubai aims to be the tallest tower in the world. When finished, it would be over 1 kilometer tall and would surpass the next tallest tower by 200 meters. Plans for the tower were announced on October 5, 2008, in Dubai. The tower is scheduled to be built in ten years and will employ more than 30,000 people in its construction.Guardian: Dubai reaches for sky with plan for tallest tower (October 6, 2008) In January of 2009, state-owned developer Nakheel announced that development of the Nakheel Tower would be stalled for at least a year.FOX News: Economic Woes in Dubai Halt Work on World's Tallest Skyscraper (January 14, 2008)

In January of 2009, just over three months after the plans for the tower had been announced, the developer announced that work on the tower would be halted for at least a year. Like many other nations, the economy in the United Arab Emirates slowed in the latter half of 2008, and an 8% decline in home values during the last quarter of 2008 was the first such decline in the country's recent history. Although it was unclear how much work had been done on the tower, a brief statement from the country in mid-January stated that "further work" on the foundation "will commence in 12 months."FOX News: Economic Woes in Dubai Halt Work on World's Tallest Skyscraper (January 14, 2008)