Jacob Arabo, the chairman and creative director of jewelry and watch house Jacob & Co., is going into real estate in a big way. Really, really big. Together with upscale Dubai builder Burj Binghatti he is developing what is expected to be the world’s tallest residential building. From the complex architecture to its unbelievable height, this glorious “hyper tower” is destined to sit in the financial district of Dubai’s Business Bay. Currently, the 1,550-foot-tall, 98-story Central Park Tower in New York City is considered the world’s tallest primarily residential structure. It was built in part by Extell Development, which is owned by Gary Barnett, who has roots in the diamond business. The new Dubai building draws “inspiration from the complex horological movements that beat in Jacob & Co. timepieces,” said Muhammad Binghatti, CEO and head of architecture for Burg Binghatti, in a statement. “The diamond-shape spires sitting at the peak of the tower are reminiscent of an actual crown, an ornament of unique finesse inspired by the design of Jacob & Co.’s finely cut gems,” he added.