The tallest building in the world is under construction in Dubai

Forget about Texas—it looks like everything might just be bigger in Dubai.

The engineering and architecture company Aurecon is teaming up with Santiago Calatrava in the construction of what will be the tallest tower in the world.

Set to be the focal point of the new development (owned by Emaar Properties) called Dubai Creek Harbor, the tower will soar to 928 meters (around 3,045 feet).

SEE ALSO: This is the largest and most expensive real estate project in the US

It will be structured as a central column made of concrete, supported by steel cables that will protect it against high winds and inclement weather.

Take a look at pictures of the construction of Dubai Creek Harbor:

At the top will sit an oval-shaped structure offering world-class 360 degree views of Dubai, that can be seen from any of the 10 observation decks or the unique "viewing platform" called the Pinnacle Room. It will also include gardens, meeting rooms and a boutique hotel.

Not too shabby.

The project's director, Adrian Jones, told The National:

Dubai Creek Harbor, where the tower will be located, is set to include a mix of residential, office and retail buildings in an open site that will sit next to the Ras Al Khor Wildlife Sanctuary and Dubai Creek, offering a sense of peace and openness in a city that can sometimes feel all-consuming.

The new tower will beat out beat out Burj Khalifa, also located in Dubai (which was completed in 2010) as the tallest freestanding tower in the world by about 100 meters (around 328 feet).

The project is estimated to cost around $1B and is expected to be completed by 2020.

Now, take a look at these stunning pictures of Dubai's Marina District:

More on AOL.com:
Don't look down in this new 1,000 foot-high glass slide overlooking LA
813-karat diamond was just sold as the most expensive diamond in the world
10 luxury real estate Instagram accounts you need be following