A Saudi Arabia based developer, RP Global, has confirmed plans to build what will be Dubai’s second tallest tower, to be located on Business Bay and fronting Shaikh Zayed Road.
The architectural firm of Atkins is working on the design, and a decision on what the eventual height should be has not been taken yet, according to the CEO of RP Global.
“A lot of the details will be decided only at the time of the launch of RP 1, expected in the fourth quarter of this year or early next,” said Ravi Pillai, who is also the Chairman of the diversified $4 billion group.
The development cost is reckoned to be around AED4 billion to AED4.5 billion, according to Gulf News. RP 1 will be mixed-use, featuring a hotel, serviced apartments, a freehold residential component as well as a retail area.