A spectacular fireworks display celebrated the opening of the newest and tallest skyscraper in the world. The Arab Emirates building, known during its construction as the Burj Dubai, also has a new name - it's now the Burj Khalifa. As real estate prices crash in Dubai, this elevated edifice rises to a record 2,717 feet. The building could be its own self-contained city boasting housing, offices, shopping, nightclubs and mosques. It will have the world’s first Armani hotel, the world’s highest swimming pool (on the 76th floor) and the highest observation deck (124th floor). The faithful can also literally be closer to god in the world's highest mosque on the 158th floor of the Burj Khalifa. The name change is in honor of the president of Abu Dhabi, Sheik Khalifa bin Zayed al-Nahyan, who funded a $10 billion bailout last month to the cash-strapped city. The Burj took 5 years to build and cost $1.5 billion.