Does this thing have a snowball's chance in hell with the lousy economic environment and over-buildup in Dubai?
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The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts. (Bertrand Russell)
the water tank idea may be a viable solution to the plumbing problem, as you could have the entire base/ roof of the tank rotate and leave the drum stationary, You could also run other pipes etc through the middle to reach the next floor.
Several of these types of towers have been proposed over the years but I don't think any of them have ever been built.
Personally I think they are a completely unnecessary gimmick. Humanity needs to spend it's resources on infinitely many other things of benefit than bother with such unnecessary gimmicks as towers like this.