Emaar Properties launched its ‘The Tower’ project in the Dubai Creek Harbour Development on Monday, according to a press release.

Emaar’s new project is planned to become the tallest building in the world once it is completed in 2020.

The Tower, being build at the heart of the Dubai Creek Harbour, is calculated to cost around $1 billion and will be 100 meters taller than the Burj Khalifa upon completion, according to statements by Mohamed Alabbar, CEO of Emaar. It is scheduled to be completed shortly before the 2020 Expo hosted by Dubai.

The Dubai Creek Harbour Development where the Tower is being built is a six square kilometer masterplan development including residential, retail, and commercial areas, as well as nearly two dozen hotels.