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Burj Khalifa, known as Burj Dubai prior to its inauguration, is a skyscraper in Dubai, United Arab Emirates, and is currently the tallest structure in the world, at 829.84 m (2,723 ft). The total cost for the project was about US$1.5 billion; and for the entire "Downtown Dubai"
development, US$20 billion. The project's completion coincided with the global financial crisis of 2007–2010, and with vast overbuilding in the country, led to high vacancies and foreclosures. With Dubai mired in debt from its huge ambitions, the government was forced to seek multibillion dollar bailouts from its oil rich neighbor Abu Dhabi. Subsequently, in a surprise move at its opening ceremony, the tower was renamed Burj Khalifa, said to honour the UAE President Khalifa bin Zayed Al Nahyan for his crucial support.
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