A rendering shows an illuminated needle-like structure with an observation pod near the tip of its point.
It will tower over inland buildings, and will be tethered to its waterfront site by a series of cables – not dissimilar to those used in Calatrava's Jerusalem Chords Bridge, which is modelled on a harp.
The tower and Dubai Creek Harbour scheme are being developed by Dubai Holding and Emaar Properties, the same firm behind the Burj Khalifa.
"Combining Islamic architecture with modern design, the tower at Dubai Creek will become a national monument as well as a cultural and tourist destination," added Mohammad Ali Al Alabbar of Emaar Properties.
The Dubai Creek Harbour scheme will also include a pair of rocket-shaped residential towers, which the developers say will be the tallest in the world.
Dubai is experiencing a "boom" in construction, according to local architectswho said the city is bouncing back after the 2008 financial crisis.
Other new projects for the city include a huge canal, an underwater hotel and a climate-controlled mega resort.