If built, the building will become the tallest in the world, dwarfing the SOM-designed Burj Dubai, which is currently the world’s tallest tower despite still being under construction. Burj Dubai is expected to be 818m-tall by the time it is completed.
The Nakheel tower will have more than 200 floors, include 150 lifts and use 500,000m3 of concrete, and is a show of defiance in the current global economic climate.
Nakheel chief executive Christopher O’Donnell said: ‘This is a completely iconic development. It was always going to be a project that would take 10 years plus.
'When you go about trying to fund a project like this, you have to take account of the economic cycles.’
It is understood that as well as the 1km-tall tower, the development will include another 40 towers, ranging from 20 to 90 storeys in height.
Nakheel is also behind Dubai's highly ambitious man-made archipelago in the shape of a palm tree.