Emaar considers new world's tallest tower for Dubai

The company behind the world’s tallest building, the Burj Khalifa, could be about to trump its own record with an even taller building and that too could be in Dubai, UAE daily The National has reported.

Mohamed Alabbar, chairman of Emaar Properties, said he was considering building a tower taller than both the Burj Khalifa and Kingdom Tower, which is under construction in Saudi Arabia.

"I think we might try to do something a little taller. Technology has really improved, the value of tall buildings in the world is really important commercially. We have learned how to make money out of tall buildings," The National quoted Alabbar as saying.

"Maybe Dubai needs another tall building," Alabbar said, when asked where the new building might be located.

Emaar completed the 829.8 metre tall Burj Khalifa in October 2009.

However, Burj Khalifa is set to be overtaken by Kingdom Tower, a kilometre-tall skyscraper due for completion in five years time.

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Kingdom Tower is being built by Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding, in the Red Sea port city of Jeddah.

Alabbar has previously suggested Asia could be a location for another tall building he was planning to build.

Emaar Properties reported a worse than expected 8% drop in first-quarter net profit on Tuesday, hit by the costs of tapping into the recovery of house sales in the financial hub.

Dubai's largest property developer showed profit of AED556 million ($151.4 million) in the quarter ended March 31, compared to AED606 million in the same period a year ago.