In January 2009, it was announced that the project was put on hold due to financial problems. As a result of the Dubai World 2009 debt standstill, Nakheel Group's financial problems increased considerably and the tower was consequently cancelled in December 2009.
The tower was proposed in 2003 as the centrepiece of Palm Jumeirah, one of the world's largest man-made islands. It was to be named "The Pinnacle" and rise from the centre of a canal on the trunk of the island. The height was to be and the building was to consist of 120 floors of luxury apartments. It was replaced by the Trump International Hotel and Tower and moved to the Dubai Waterfront. Although ground leveling and land reclamation... Read More