Dubai (CNN) -- A land of superlatives.
The world's tallest tower, the longest driverless public transit network, the largest illuminated advertising sign, to name a few.
Now Dubai, one of seven emirates making up the United Arab Emirates, is home to another record: the tallest twisted structure in the world.
Cayan Tower, which spirals at 90 degrees from the bottom to the top, was inaugurated on Monday with a spectacular firework display as it stands in the Dubai Marina, a man-made harbour.
The 1 billion dirham ($272 million) residential tower has 75 floors housing 495 apartments. Developer, Cayan Real Estate Investment and Development Company, says 80% of the units have already been sold.
On a secondary market property website, a one-bedroom apartment carries a price tag of $435,000.
The structure stands at 307 meters high with each floor rotated by 1.2 degrees.
Construction on Cayan Tower, previously known as Infiniti Tower, started in 2006 but soon after that a major flooding in the basement caused a delay. The tower was set to finish in 2010 but then faced another hurdle, the financial crisis in 2009.
The credit crunch forced many projects in the city to be put on hold or be scrapped altogether.
Dubai, whose economy relies heavily on real estate, saw property prices slump as much as 60% during that time.
But a recovery is well underway in the Emirate.
Analysts at property consultant, Jones Lang LaSalle, say real estate investment in the first quarter of the year has been "very active". Sale and rental prices continue to rise, building on the strong growth of 2012.