Developers are not revealing the exact height of the Burj Dubai until its official debut. But they say the $1.5 billion tower will reach 200 stories into the sky.
It will stretch 300 meters higher than Taiwan's Taipei 101, which currently holds the world record at 508 meters.
Dubai leaders hope the tapered metal and glass skyscraper will help restore investors' confidence in the emirate.
The state-owned conglomerate Dubai World sent stock markets tumbling in November after it announced it could not repay $60 billion in loans. Neighboring emirate Abu Dhabi came to Dubai's rescue in December with a $10 billion aid package to help Dubai World repay some of its debt.
Some information for this report was provided by AP, AFP and Reuters.