The inauguration of the World’s tallest skyscraper on Monday is being projected as a beacon of hope to an indebted kingdom. For a long time, Sheik Mohammed bin Rashid Al Maktoum, the city-state's 60-year-old hereditary leader, has been harboring the dream of seeing Dubai as a business hub at par with London, New York and Hong Kong.

The 2009 real estate sector crash came as quite a shock. It was only with the $ 10 billion aid of Abu Dhabi that Dubai was able to pay off some debts and withstand the brunt of the recession.

Now, after being delayed twice, the grand opening promises auspiciousness since it coincides with the Sheikh’s fourth anniversary as ruler. Many controversies have kept the Burj (Arabic for tower) in spotlight with the Human Rights groups’ objections of the ill-treatment of 12000 labourers and the environmentalists protesting against the already enormous carbon footprint of Dubai.

Despite all the adversities surrounding the Burj, it is sure to be revered as a modern marvel with a height way above the current No. 1, Taipei 101 (1,670 feet) in Taiwan. Though Developer Emaar Properties has not disclosed the actual height, it is estimated to be over 800 meters (2,625 feet). In spite of global circumstances, nearly all the 1100 residential units of the Burj are sold out.