Yet another amazingly ambitious construction project has been launched for Dubai. At the Plaza Hotel in New York Dr David Fisher of Dynamic Group showed off the plans for the Dynamic Tower in Dubai. The $700 million project is an 80-story building where each floor rotates so that everyone gets a 360-degree view (the full rotation takes between one and three hours). The tower will have 10 full floor apartments in which the owner can control the rotation. The rest of the floors will include a luxury hotel.

The structure will have a fluid look, sometimes sinuous and sometimes looking like a set of children's blocks. The apartments will start around $3,000 per square foot putting them in the same price range as Donald Trump's Palm Jumeirah project.

Each floor will be prefabricated in a factory in Italy, shipped to the site and then attached to the core. Fisher says that this could mean floors could go up as quickly as one every seven days and plans a 2010 completion date. He sees this type of prefabrication as the way of the future. The building will also have wind turbines between each floor to provide energy. Fisher plans a second tower for Moscow and hope to have a third in New York.

This is Fisher's first skyscraper project so many are wondering if this will ever be built. As a cynic who has seen a lot of flashy projects debut and disappear before construction, I'm tempted to agree with the skeptics.

This project isn't the only rotating tower planned for Dubai. Check out this project, which I first wrote about in 2006 when it was originally planned to be completed this year. The project calls for 72 units, many of which have been sold.