Trident International Holdings, a Dubai-based developer, will be restarting work on 516-metre The Pentominium, billed as the world’s tallest residential tower, by third quarter, Emirates 24|7 can reveal.
“In conjunction with the Dubai Land Department, Trident is actively working on several advanced options towards restarting the construction of this project,” a person aware of the project status, told this website.
“Considering the iconic size and nature of the project, we anticipate resumption by the third quarter of 2014,” he added.
The tower, located in Dubai Marina, was scheduled for completion in 2013, but work was suspended in August 2011 following the global financial crisis and customer default.
When completed, the residential tower will have 122 floors above ground and house 172 luxury penthouses designed by Italian fashion designer Salvatore Ferragamo.
In 2009, Arabian Construction Company was awarded a Dh1.46 billion contract for construction of the tower.
(Pic: Imre Solt)
Construction commenced on July 26, 2009, and, before construction stopped, at least 30 floors had been completed.
When completed, Pentominium will become the second tallest building in Dubai after 828-metre Burj Khalifa, the tallest tower in the world.
Dubai already is home to four of the tallest residential towers with the 414-metre Princess Tower in Dubai Marina holding the world record according to the Council on Tall Buildings and Urban Habitat.
The 395-metre 23 Marina is in second place, followed by 381-metre Elite Residence and 337-metre The Torch, Council data reveals.
Emporis’ latest data shows Dubai has 1,882 tall buildings of which 869 exist, 625 are planned, 341 under construction, 46 un-built and one demolished.
Overall, the emirate has 909 high-rises and 451 skyscrapers.