As the space crunch on Earth continues, most buildings are going vertical. The second tallest building, which is just about 251 meters shorter than Dubai’s 828-metre tall Burj Khalifa, will be unveiled soon. The 76-story and 577-meter high Makkah Clock Royal Tower, scheduled to open in the third quarter of 2010, will become the worlds tallest hotel, Fairmont Hotels and Resorts Group said early this week.

The tower will serve as the focal point of the iconic Abraj Al Bait Complex, which is part of the King Abdul Aziz Endowment Project whose mandate is to upgrade the precincts of the Two Holy Mosques. The complex will include seven towers adjacent to the Holy Mosque, the holiest site in Islam. The tower, which is being developed by the Saudi Bin Laden Group, will also house the Emaar Residences.

At the center of the complex will also be The Fairmont hotel, the Lunar Observation Center and Islamic Museum. The hotel, which is scheduled to open in mid 2010, will have 858 rooms, and will feature Fairmont Gold, the company’s exclusive “hotel within a hotel”, and seven restaurants. The Makkah Clock Royal Tower, will include a 40-meter clock, more than five times larger than Big Ben in London, which will be visible up to 17 kilometers away and will announce the daily prayers to the Muslim world.

The newly developed property, Makkah Clock Royal Tower in Saudi Arabia, will be a key destination for visitors from the United Arab Emirates and the Middle East, strengthening the popularity of Fairmont Hotels and Resorts with travelers from the region, the hotel group said in a statement.