World's tallest building opens in Dubai

>> a true american value .

>>> take a look at this. dubai is putting aside its mass i have credit crunch . they are celebrating as it opens the world's tallest building and more than 2,600 feet the skyscraper known as dubai tower sets a record with an observation deck on the 124th floor, if you have the stomach for that one. guy johnson has some of the festivities. quite a sight behind you. give us a play-by-play on what's happening now, guy.

>> reporter: it's an incredible scene here in dubai . dubai doesn't have it in its dna to do anything small scale. 828 meters is the confirmed height and it has been one big fireworks display over the last few minutes. they've lit the building up. they're really telling the world that they are still here. they are still in the game . despite the economic crisis that this city has experienced over the last few weeks they are determined to push along but, i tell you what, the most significant event of the evening was due to be called the burj dubai , but they've named it after the ruler of the capital because they have come to the rescue of dubai over the last few weeks after providing it with a huge financial bailout. but 828 meters tall. that is a new world record for a man made structure. back to you.

>> it is an incredible sight to see, guy. enjoy the festivities. i know we will be talking much more about this dubai tower and the competition always continuing too much the tallest building . thank you