The Burj Khalifa, which has held the title of world's tallest building with a height of 2,717 ft (828 m) since its completion in 2010, may have its crown stolen by a new building proposed for an artificial archipelago under construction on the shores of the Caspian Sea southwest of the Azerbaijan capital, Bakou. The proposed Azerbaijan Tower would reach 3,445 ft (1,050 m) into the sky, making it even taller than Saudi Arabia's proposed Kingdom Tower by 164 ft (50 m).

According to News.Az, the Azerbaijan Tower would boast 189 floors and be built by Avesta Consern as part of the Khazar Islands development. The tower would form the centerpiece of the development, which will consist of 41 artificial islands spread over an area of 2,000 hectares (2,942 acres). The tower alone is expected to cost US$2 billion, while the city, which is designed to house one million residents and will contain everything a modern city needs - plus a Formula One racetrack - is estimated to cost $100 billion.

The announcement might come as a bit of a surprise given the current world economic climate, which has already claimed the proposed Nakheel Tower.

Avesta plans to begin construction of the Azerbaijan Tower in 2015 with a planned 2018 - 2019 completion date. The entire Khazar Islands are due for completion by 2022.

A video from Avesta showing how the Khazar Islands development will look upon completion can be viewed below.

Source: News.Az via Architizer