UPDATE 2:50 p.m.:

14 people have sustained "minor injuries" following the massive hotel fire in downtown Dubai, CNN reports. Witnesses say the blaze started around 9:30 p.m. local time. The hotel was reportedly fully booked for the evening's New Year's festivities.

See original story below.

A massive fire has engulfed the Address hotel in downtown Dubai shortly before a nearby New Year's Eve fireworks display was set to begin, Reuters reports. The hotel is located near the Burj Khalifa, the world's tallest building, which was set to host the NYE celebration.

Images obtained by @pzf show smoke from the harrowing fire covering the city's skyline, with various video clips showing the luxury hotel's close proximity to the Burj Khalifa.

Local officials are currently working to evacuate the premises while battling the blaze, though the cause of the eruption has not been identified. Speaking with CNN, authorities say they believe the blaze started on the 20th floor of the building. No injuries have been reported and the evening's festivities are currently expected to continue as planned, according to Reuters.

This story is developing.