Developers in Azerbaijan are planning to construct a skyscraper that will top the list of the worlds tallest buildings.

The project, called Azerbaijan Tower, aims to steal the top spot from the proposed Kingdom Tower of Saudi Arabia and will reach 1,050 meters (3,440 feet) with 189 floors. Sponsored by the Avesta Group, the skyscraper will be just one part of a larger development. The tower will serve as the focal point of the Khazar Islands, a $100 billion city made up of 41 man-made islands on the Caspian Sea. Architizer reports: The buoyant metropolis is being planned for 1 million residents, who will be housed in endless rows of high-rises ranging for 25 to 60 stories in height with access to over 150 schools, 50 hospitals and daycare centers, plus numerous parks, shopping malls, cultural centers, university campuses, and even a Formula 1 racetrack. The city will be equipped with a robust network of innovative bridges and infrastructure that will link outlying islands to the urban core, while a large municipal airport will provide access to and from the radiant city. The tower is estimated to cost $2 billion and wont reach completion until 2019.