In 2003, building are arising from everywhere in Dubai. The wildest projects (Palm Jumeirah, Dubai World, Dubai Land) are launched one after the other (some of these projects will never be finished because of the economic crisis which hit Dubai hard in 2009).
Emaar, one of the largest real estate companies in Dubai, announced in 2003 that it intended to break the record for the tallest tower in the world. At that time, the tower was to be called Burj Dubai, and was supposed to be a monument in celebration of Dubai. The height of the tower, originally planned to be 560 meters, had increased continuously to ensure the record was held for as long as possible.
From that moment onwards, as with many projects in the UAE, everything went very quickly. In late 2004, the construction site began. The first floor came out of the ground in late 2005, and the tower grew at a staggering speed.
On 4th January 2010, the tower was inaugurated and partially opened to the public, breaking numerous world records.
Meanwhile, the economic crisis had hit Dubai hard, draining the money out of the emirate, leaving many developers penniless. The emirate of Abu Dhabi had no interest in seeing the collapse of its neighbour, so they decided to fund up to $ 10 billion worth of ongoing projects in Dubai. In return for this generous assistance, the Burj Dubai had its name changed to Burj Khalifa just before its inauguration, after Sheikh Khalifa bin Zayed al Nahyan, the Emir of Abu Dhabi.