Burj Khalifa gets new rival?

Burj Khalifa, the world's tallest building in Dubai may have another competition.

Dubai is building Burj Azizi, which is a $1.5 billion brand new commercial skyscraper in the city. It is set to become world's second tallest construction as soon as it gets completed, according to Archinect.

The announcement of the building was made by a prominent local developer by the name of Azizi Developments in the United Arab Emirates.

Though the name of the new building’s architect has not been revealed and there is no specification of its final height in numbers yet, it will reportedly host a vertical mall, luxury residences, and an observation deck.

Burj Azizi, which is likely to have 122 stories, will rival the Lotte World Tower and China 117 Tower as one of just five structures in the world to span at over 120 stories in height.

The new building’s construction will happen not very far from the record-holding Burj Khalifa on Sheikh Zayed Road.

“This tower will be our legacy,” said the Chairman of the Azizi company, Mirwais Azizi. 

“With Dubai having given my family and me so much — safety and abundance of opportunities — this tower, which will be its second tallest, is our way of giving back to this emirate and its remarkably hospitable and welcoming people," he added.