Dubai opens half-mile-high tower, world's tallest !

DUBAI, United Arab Emirates – Dubai opened the world's tallest skyscraper Monday in a blaze of fireworks, then added a final flourish: It renamed the half-mile-high tower for the head of neighboring Abu Dhabi, whose billions bailed out Dubai amid last year's financial crisis.

Long known as Burj Dubai — Arabic for "Dubai Tower" — the building rises 2,717 feet (828 meters) from the desert. The $1.5 billion "vertical city" of luxury apartments and offices and a hotel designed by Giorgio Armani also plans to have the world's highest mosque (158th floor) and swimming pool (76th floor).
Its backers wanted the skyscraper to be a monument to the boundless, can-do spirit of Dubai — one of a federation of seven small sheikdoms that make up the United Arab Emirates — but the timing could not be worse. Property prices in parts of Dubai collapsed by nearly half in the past year, the result of easy credit and overbuilding during a real estate bubble that has since burst.
Riding to the rescue was Sheik Khalifa bin Zayed Al Nahyan, the ruler of oil-rich neighbor Abu Dhabi, which pumped tens of billions of dollars into Dubai last year as it struggled to pay enormous debts.

In this picture released by Sheik Mohammed bin Rashid al-Maktoum's Media Office, Sheik Mohammad, the ruler of Dubai, inaugurates the Burj Dubai tower, the tallest skyscraper in the world, during its opening ceremony in Dubai on Monday Jan. 4, 2010