The Burj Dubai punctures the city's skyline with its telescopic steel spire, finishing more than 300 metres higher than its nearest rival, Taiwan's Taipei 101.
26,000 hand-cut glass panels create a soaring glimmer in the sunshine, while inside there are plush offices, luxurious apartments and soon, an Armani-branded hotel.
Burj Dubai's official opening is also designed as a celebration of Sheikh Mohammed bin Rashid Al Maktoum becoming ruler of Dubai four years ago.
It's his vision that's credited with inspiring the city's phenomenal growth.
Things may now have gone awry, but people here still want to believe in that vision.
Officially there's not a hint of embarrassment that Burj Dubai's opening comes just a month after the debt announcement which sent world stock markets plummeting, but business people here are worried.
The city has received a significant bailout from its oil-rich neighbour, Abu Dhabi and some people there are wondering whether today's extravagant display of Dubai's past boldness is entirely appropriate in the circumstances
The Burj Dubai tower soars above the city's skyline