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The imminent start of construction of the Burj Azizi, a $1.5 billion new commercial high-rise in Dubai that’s billed to become the city’s second-tallest construction upon completion, has been announced in the United Arab Emirates by a prominent local developer named Azizi Developments. The tower, which has yet to name an architect or specify its final height at topping out, will reportedly host a vertical mall, luxury residences, and an observation deck. Planned for 122 stories, it will rival the Lotte World Tower and China 117 Tower as one of just five structures in the world to be completed at over 120 stories in height. Its construction will take place not far from the record-holding Burj Khalifa on Sheikh Zayed Road, culminating in a new icon backers say is a gift to the city that has nurtured their business success over many years. “This tower will be our legacy,” said the Chairman of the Azizi company, Mr. Mirwais Azizi. “With Dubai having given my family and I so much — safety and abundance of opportunities — this tower, which will be its second tallest, is our way of giving back to this emirate and its remarkably hospitable and welcoming people.”