How high is the Maitreya Tower in Jeddah, Saudi Arabia?

Mileta Saudi Arabia's "Mileta" renderings The Prince of Saudi Arabia invested 1 0 billion yuan to build the1600-meter-high "Mileta", vying for the first place in the world.

The "Mile Tower" dwarfs the Burj Dubai with a height of 8 18 meters, but relying too much on real estate, just like relying too much on oil, is not good for the economic development of the Gulf region.

Now, the Middle East has indisputably become the main battlefield of high-rise competition all over the world. At present, there are four buildings to be built in the world, all of which are located in Middle East countries.

There is no highest, only higher.

The newest member of this future "Thousand-meter Building Club" is the one-mile tower in Jeddah, Saudi Arabia. According to the report of the weekly Middle East Economic Summary in the UK at the end of February, this building with a height of 1.600 meters (about 1 mile) and an estimated investment of10 billion US dollars will be completed in half a year. Miller Tower is invested by Imperial Holding Company controlled by Saudi Prince Alwaleed. Once completed, it will surpass the world's tallest building 10 1 tower and nearly 800 meters higher than the Burj Dubai, the world's tallest building under construction.

In addition, in March last year, Nakhir, a real estate company in Dubai, announced that it would build a Burj Dubai with a height of 1 200m to compete with the Burj Dubai built by rival aimar Real Estate Company. Bahrain also proposed to build the "Morgan Tower" with a height of1.022m in 2006; As early as 2005, Kuwait planned to build a 100 1 meter-high "Silk City", which coincides with the Arabian myth "One Thousand and One Nights".

This 1000 meter building is a comprehensive commercial building, but it is still in the drawing stage. Only the "Silk City" in Kuwait has given the exact information about the start of construction at the end of this year, and the start of other projects is still far away. Many people in the construction industry question the feasibility of the1000m building. Wind load resistance of high-rise elevators is a very realistic technical problem. According to the existing design, the foundation of the "Silk City" building is nearly 10, which may even cause a slight earthquake.

Tower cranes from all over the world gather in the bay.

Although high oil prices have made Gulf countries rich, almost every country has no intention of enjoying oil wealth, but has devoted itself to real estate development.

In the Middle East, Dubai is a well-deserved pioneer in real estate development. In the 1990s, the Dubai government began to consider building an unusual hotel to promote tourism, which is now called the Burj Khalifa Hotel in the shape of a seven-star sailboat. This hotel was built in 1999, with a height of 32 1 m. At that time, it was not only the most luxurious hotel in the world, but also the tallest hotel in the world. It was once a landmark in Dubai, with a constant number of people staying and visiting and a large influx of investment.

Since then, real estate projects in Dubai have been booming. In September 2004, the 8 18-meter-high Burj Dubai broke ground; At the same time, several high-rise buildings below 600 meters are also under construction.

Seeing the success of Dubai, Kuwait, Bahrain, Saudi Arabia, Qatar and other countries have followed suit, and the real estate in the Middle East continues to heat up. According to statistics, Dubai accounts for 25% of the total number of tower cranes in the world, while Abu Dhabi, Doha and Jeddah are likely to catch up.

The construction of high-rise buildings is only one of the manifestations of the real estate prosperity in the Middle East, and the Gulf countries are still competing with each other with various ideas. In Dubai, the world's most luxurious underwater hotel "Underwater City Hotel" was put into use at the end of last year, and the "World Island" that replicates the world map and the "Palm Island" that imitates the shape of palm leaves are also under construction.

The real estate bubble is inevitable

The preferential policies of the government, the rapid development of the Middle East economy, the expansion of domestic demand and the return of Middle East capital from the United States after "9. 1 1" have all led to a sharp increase in the demand for real estate in the Gulf region. Many international celebrities and tycoons are scrambling to buy houses in the Middle East. The late Pakistani Prime Minister Benazir Bhutto, British David Beckham and German F/KLOC-0 driver Schumacher all own properties in Dubai. It is reported that the unfinished Burj Dubai sold out 700 private apartments from 45th floor to 108 floor within 8 hours.

But bubbles and prosperity always go hand in hand. In Dubai, the price of buying and renting houses has doubled compared with last year. Many people sell second-hand houses at multiple prices, but these houses are just a painting in the desert. Real estate speculation raises questions: Who will become the real crowd? Can the existing population in the Middle East digest the real estate under development?

Dubai official analysis, this year and next, a large number of real estate projects will be completed and put into use, there may be a situation of oversupply. Therefore, in the second half of last year, the Dubai government intervened in the real estate chaos and stipulated that the rent increase should not be higher than last year's 7%. The Qatari government has also recently introduced a policy to set the upper limit of price increase according to the different prices of rents.

Gulf governments realize that high housing prices may also scare away foreign investors, and once no one buys, the domestic economy will face collapse. Excessive dependence on real estate, just like excessive dependence on oil, is not good for economic development.