The tower, designed by architect Santiago Calatrava Valls, is envisioned as a tall, slim structure that will mimic the appearance of a minaret.
It will be tethered to the ground by a network of leaf-like cables. Features include observation decks, restaurants, a boutique hotel, and private residences.
The goal is to have the building completed by 2020, the year the world Expo trading fair is to be held in Dubai.
10 unusual things to do in Dubai
World's tallest skyscraper planned for Dubai
Visiting the gold souk in Dubai is a fascinating experience. This is where retailers sell a huge selection of gold, silver and diamonds, and it's thought that at any given time there is around 10 tonnes of gold in the marketplace.
The Atlantis Underwater Suite boasts awesome underwater views of the 65,000 marine inhabitants of the lost city of Atlantis. Each of the underwater suites also comes with an ensuite bathroom which grants guests a floor to ceiling view of the underwater Ambassador Lagoon. OK, so it doesn't come cheap (£5,500 a night to be precise!) - but you can still get your glimpse of the incredible array of sealife on a day trip to the hotel's Lost Chambers marine water park for a fraction of the price.
Spend an evening under the stars in the desert while enjoying a barbecue dinner and a professionally led drumming session. The evening activity is a great opportunity to get away from the hectic lifestyle in Dubai and gives visitors a chance to appreciate the nature around the city. Visit dubaidrums for more info.
Camel Polo is a unique team sport, generally only found in Arabia where it has been derived from the ancient game of kings. Visitors are welcome to have a go with a group of friends and no previous horse (or camel) riding experience is necessary.
Enjoy a scenic drive in a 4x4 before making the most of the desert area by speeding down a dune on a sandboard. It's a bit like snowboarding but with glorious sunshine instead of icy blizzards. Sandboarding is a great fun activity for people of all ages.
Take a look at Dubai from above with a ride in a hot air balloon. Balloon Adventures Emirates offer flights which will let you take in the stunning beauty of the endless sand dunes and Hajjar Mountains while only a 30-minute drive from the city.
Water taxis are used to take people across the Dubai Creek between Shindagha/Al Ghubaiba and Al Sabkha on the other side. The abras leave every few minutes and will cost you less than 20p.
The Chillout Lounge, which was the first ice bar to be opened in the Middle East, combines stunning interior design with novelty sub zero temperatures to make for a truly unique experience. Visitors are given thermal clothing and the chance to acclimatise before enjoying a drink or two in the icy climate.
Have dinner on a Dhow Cruise Dubai boat and you'll not only have the chance to enjoy a delicious meal but you'll have the chance to see the illuminated sights of Dubai by night while being treated to a traditional Tanura Dance show.
Al Fahidi Fort is thought to be Dubai's oldest building: it's estimated to have been constructed in 1787 and is now the home of the Dubai Museum which houses a mock souk, historical photos and film footage.