DUBAI’S Princess Tower has been declared as the world’s tallest residential building at 413.4 m (1,356 ft).

Developer Tameer announced the delivery of the tower, which has now been officially recognised as the World’s Tallest Residential Building by CTBUH (Council on Tall Buildings and Urban Habitat), moving past its Dubai neighbour, the 393-m (1,289-ft) 23 Marina.

Princess Tower contains 763 individual apartments, including several penthouses. Eight retail shops are located on the ground level. The tower features a recreation centre on the 97th floor, free Internet zones and easy access to public transport.

Tameer recently completed the 380-m Elite Residences, a block away from the Princess. Tameer president Federico Tauber said there are signs that the market is recovering. About 98 per cent of the apartments in Princess have been sold, he said.

“We see this year as a year of consolidation and 2013 as a year for growth,” he concluded.