Binghatti on Wednesday announced a project to develop the world's tallest residential building in Dubai - the Burj Binghatti Jacob & Co Residences.

The UAE-based developer, which has a portfolio of more than Dh7 billion, said it will introduce a new era of ultra-luxury living by partnering with Jacob & Co to launch the ultra-luxurious Dubai skyscraper.

However, no time frame was given for the completion of the project.

The "unparalleled skyscraper aims to set a record for being one of the tallest residential buildings in the world," according to a statement from Binghatti.

In a giant leap, the real estate developer said the ultra-luxurious skyscraper will stand magnificently in the heart of Dubai's most prestigious financial district, Business Bay. The proposed design includes more than 100 floors of luxurious two- and three-bedroom residences.

Muhammad Binghatti, CEO and principal of Binghatti Construction, highlighted the landmark project and the collaboration with watchmaking and jewelry brand Jacob & Co, and coined a new term for upper real estate - hypower.

"Today marks an important partnership between two like-minded brands that are both constantly striving for absolute elegance. Both of our brands were created to fulfill the desire to break boundaries," Binghatti said.

"Binghatti is creating a brand through a unique design concept and architectural identity that does very similar things in real estate to what Jacob & Co does in jewelry and watches," he said.

The Burj Binghatti Jacob & Co Residences includes multi-level amenities such as an infinity pool overlooking the entire Dubai skyline, a luxury spa and a gym.

The high-rise also features a dedicated concierge team with a la carte services such as daycare, bodyguards, chauffeurs and private chefs, according to the statement.

Jacob Arabo, chairman and creative director of Jacob & Co, said the penthouse collection's interior design will be directly inspired by their unique aesthetic.

"As the name suggests, the Billionaire Penthouse is the crown jewel of the Super Tower. Inspired by our Fine Watchmaking collection, these penthouses will include three types, each named after our flagship Jacob & Co timepieces Fleurs De Jardin, Astronomia and Billionaire," he said.

Burj Binghatti Jacob & Co Residences explores the clever design language of combining Binghatti and Jacob & Co. They speak with one voice, unfolding a unique exterior silhouette that expresses the design spirit of two internationally recognized brands.

"We took inspiration from the complex watch movements that beat in Jacob & Co timepieces and incorporated them into key elements of the tower. The diamond-shaped spire that sits atop the tower is reminiscent of an actual crown, a uniquely fine decoration inspired by the design of Jacob & Co's finely cut gemstones. "Binghatti added: "It is the culmination of a luxurious narrative in this evocative building, an iconic feature that adds further grandeur to the city skyline.

Drawing inspiration from horological and fine jewelry aesthetics, the design of the Burj Binghatti Jacob & Co Residences is reminiscent of Jacob & Co's famous rectangular cut gemstones. The entry-level residences will comprise two collections. The Sapphire Suite Collection consists of two-bedroom residential units and the Emerald Suite Collection consists of three-bedroom units.

In a symbolic overlap of words and facts, the Burj Binghatti Jacob & Co Residences are topped by five of Dubai's most luxurious and exclusive penthouses tucked away. Floating on top of the world, they offer endless views of the city skyline, including Down-town and the Dubai Water Canal.

Ata Shobeiry, CEO of Zoom Property, said partnerships like this one benefit the Dubai real estate market.

"However, this particular project will target high net worth individuals and foreign investors, as it will have ultra-high-end properties whose demand is already on the high side. With more options available to investors and end users, they will show more interest, which will ultimately benefit the market," he said.

Dubai is already known for its towering architecture. Since its completion in 2009, the iconic Burj Khalifa (829.8 meters) has been the tallest building and the tallest self-supporting structure in the world.

The emirate is also home to Marina 101 (425 meters) - the second tallest building in Dubai; Princes Tower (413 meters); 23 Marina Tower (392 meters); Elite Residence (381 meters); Address Boulevard (370 meters); Almas Tower (360 meters). Gevora Hotel (356 m) and The Marina Torch (352 m).

Burj Binghatti Jacob & Co Residences hypertower is also home to an exclusive private club with a huge infinity pool.

Its luxurious facilities include a huge lounge, and a private event area reserved for Jacob & Co. Materials, details and finishes were conceived and designed in collaboration with Jacob & Co's designers, whose attention to detail was applied to a new and unprecedented scale and height.