Developer Meydan has announced the launch of a new scheme known as Meydan One which, at 711m high, will be the world’s tallest residential tower. The World One in India, currently under construction, is expected to reach 442m and become the world’s tallest residential tower when completed in 2016.

The tower will also boast the world’s longest indoor ski slope at 1.2 kilometres (the current record is at AlpinCenter in Bottrop/Germany at 640 metres), the largest dancing fountain reaching over 420m long (the Dubai Fountain currently holds the record at 275m long), the world’s highest 360-degree observation deck at 655m (Burj Khalifa’s At The Top Sky currently holds the record at 555m above the ground) and a sky restaurant at 675m high, which is also a world record.

The development will also feature a huge new mall, a 25,000 sq metres indoor sports facility, a beach and a civic plaza capable of hosting up to 60,000 people. It is also to contain a 100-berth marina.

And, a retractable roof.

“In a city which never stops innovating, today’s announcement is significant for the future of Dubai and the UAE,” said the Meydan chairman Saeed Al Tayer.

The development has already been approved by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. It was launched on Monday night at Meydan hotel.

The project is to have a total built up area of 5 million sq metres and be home to 78,300 residents. It is to contain a 5-star hotel with 350 keys, a conference centre and 885 apartments.

The mall is to have a 150m by 80m retractable roof that opens in the cooler winter months. It will be home to around 300 restaurants, cafes and kiosks as well as a range of retail outlets and nightlife venues. The ski slope is to be 1.2km long and at its base would be the Meydan Arena – an 8,000-capacity venue to host sporting events, concerts and shows.

Outdoor space surrounding the arena is to contain football pitches, mountain biking, walking and running trails and a BMX park, while the 25,000 sq metres arena is to house an array of indoor sports.

The dancing fountains are to be more than 420m long, the beach 300m and there is to be a 9km-long boardwalk. A heritage village is also part of the plan.

The first phase of the project, located between Meydan and Al Khail Road, is scheduled for completion before 2020. It is to include the tower, the mall, the civic plaza, the dancing water feature, a 4km canal and the marina.

Mr Al Tayer said: “We have committed to developing a multi-use destination which goes beyond expectations and will cater to every kind of person living and working here, as well as those who travel from around the world to visit.

“This development is a forward thinking, interactive enterprise geared towards the Dubai of tomorrow. The encouragement and support we have received in the past from our trusted partners will now help the Meydan One development come to life.”

The video below is an overview of the Meydan One development.