Skyscrapers Still Reach For the Skies

Developers want to shrug off the current economic crisis, but the global downturn could yet quash future high-rise plans
At more than 3,000 feet tall, the $38 billion Nakheel tower could be the world's tallest in 2020.

The global financial crisis seems to have done little to dampen the sky-high ambitions of architects and developers racing to build the world's tallest buildings. Even as the U.S. credit crunch spilled across the Atlantic and beyond, the skyscraper boom continued to escalate. At Cityscape, Dubai's annual real-estate trade show (Oct. 6-9), the government-backed property developer Nakheel unveiled new plans to build a $38 billion, 3,000-ft. skyscraper in the city, dwarfing the most ambitious global projects to date in both size and cost.

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