<P> Burj Khalifa was designed to be the centerpiece of a large - scale, mixed - use development that would include 30,000 homes, nine hotels (including The Address Downtown Dubai), 3 hectares (7.4 acres) of parkland, at least 19 residential towers, the Dubai Mall, and the 12 - hectare (30 - acre) artificial Burj Khalifa Lake . The decision to build Burj Khalifa is reportedly based on the government's decision to diversify from an oil - based economy to one that is service and tourism based . According to officials, it is necessary for projects like Burj Khalifa to be built in the city to garner more international recognition, and hence investment . "He (Sheikh Mohammed bin Rashid Al Maktoum) wanted to put Dubai on the map with something really sensational," said Jacqui Josephson, a tourism and VIP delegations executive at Nakheel Properties . The tower was known as Burj Dubai ("Dubai Tower") until its official opening in January 2010 . It was renamed in honour of the ruler of Abu Dhabi and president of the United Arab Emirates, Khalifa bin Zayed Al Nahyan; Abu Dhabi and the federal government of UAE lent Dubai tens of billions of USD so that Dubai could pay its debts--Dubai borrowed at least $80 billion for construction projects . In the 2000s, Dubai started diversifying its economy but it suffered from an economic crisis in 2007--2010, leaving large - scale projects already in construction abandoned . </P> <Ul> <Li> Tallest existing structure: 829.8 m (2,722 ft) (previously KVLY - TV mast--628.8 m or 2,063 ft) </Li> <Li> Tallest structure ever built: 829.8 m (2,722 ft) (previously Warsaw radio mast--646.38 m or 2,121 ft) </Li> <Li> Tallest freestanding structure: 829.8 m (2,722 ft) (previously CN Tower--553.3 m or 1,815 ft) </Li> <Li> Tallest skyscraper (to top of spire): 828 m (2,717 ft) (previously Taipei 101--509.2 m or 1,671 ft) </Li> <Li> Tallest skyscraper to top of antenna: 829.8 m (2,722 ft) (previously the Willis (formerly Sears) Tower--527 m or 1,729 ft) </Li> <Li> Building with most floors: 211 (including spire) previously World Trade Center--110 </Li> <Li> Building with world's highest occupied floor: 584.5 m (1,918 ft) (surpassed by Shanghai Tower in 2015) </Li> <Li> World's highest elevator installation (situated inside a rod at the very top of the building) </Li> <Li> World's longest travel distance elevators: 504 m (1,654 ft) </Li> <Li> Highest vertical concrete pumping (for a building): 606 m (1,988 ft) </Li> <Li> World's tallest structure that includes residential space </Li> <Li> World's highest observation deck: 148th floor at 555 m (1,821 ft) (surpassed by Shanghai Tower in 2015) </Li> <Li> World's highest outdoor observation deck: 124th floor at 452 m (1,483 ft) </Li> <Li> World's highest installation of an aluminium and glass façade: 512 m (1,680 ft) </Li> <Li> World's highest nightclub: 144th floor </Li> <Li> World's highest restaurant (At. mosphere): 122nd floor at 442 m (1,450 ft) (previously 360, at a height of 350 m (1,148 ft) in CN Tower) </Li> <Li> World's highest New Year display of fireworks . </Li> </Ul> <Li> Tallest existing structure: 829.8 m (2,722 ft) (previously KVLY - TV mast--628.8 m or 2,063 ft) </Li> <Li> Tallest structure ever built: 829.8 m (2,722 ft) (previously Warsaw radio mast--646.38 m or 2,121 ft) </Li>

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