2024-11-14T17:22:34-05:00 https://archinect.com/news/article/150240755/work-halted-on-world-s-next-tallest-tower-calatrava-designed-dubai-creek-harbour-tower Alexander Walter 2020-12-09T13:59:00-05:00 >2020-12-12T13:46:22-05:00 <img src="https://archinect.gumlet.io/uploads/07/076da2f52203cc4984344683041347aa.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>Dubai largest listed developer Emaar Properties has halted new building work after a construction boom in recent years led to oversupply in the Gulf city, its chairman said on Monday. Dubai&rsquo;s real estate market, where supply has outstripped demand for much of the past decade, has come under additional pressure this year from the coronavirus crisis.</p></em><br /><br /><p>"We as a group have stopped supply," said Mohamed Alabbar, Chairman of Dubai's largest developer Emaar Properties, after <a href="https://www.esquireme.com/content/45209-work-reportedly-halts-on-what-will-be-the-worlds-tallest-building-in-dubai-because-of-coronavirus" target="_blank">denying similar claims</a> back in April. <br></p> <p>The suspension includes work on the new Dubai Creek Harbour mega-development and its centerpiece, the <a href="https://archinect.com/firms/cover/1636/santiago-calatrava" target="_blank">Santiago Calatrava</a>-designed <a href="https://archinect.com/news/tag/558683/dubai-creek" target="_blank">Dubai Creek Harbour Tower</a> which aims to take over the title of world's tallest building from the currently reigning <a href="https://archinect.com/news/tag/223781/burj-khalifa" target="_blank">Burj Khalifa</a> &mdash; another Emaar property.</p> <p>The ambitious project <a href="https://archinect.com/news/article/149973177/groundbreaking-for-calatrava-designed-dubai-tower-potentially-the-world-s-tallest-building" target="_blank">broke ground in 2016</a>.<br></p>