Construction of the World’s Tallest Tower Resumes in Jeddah

Riyadh: The construction of the world’s tallest tower in Jeddah, Saudi Arabia, is set to resume after a contract was signed between Kingdom Holding Company and the Bin Laden Group. The project, known as the Jeddah Economic Tower, has been on hold for the past seven years.

The ambitious tower is designed to stand at 1,000 meters, making it the tallest building in the world. Out of the 157 floors planned, 63 have already been constructed. According to reports from Akhbar 24, the construction work on the Jeddah Economic Tower, which aims to regain the title of the world’s tallest building, is now back on track with the new agreement. The total cost of the project is estimated to be 7.2 billion riyals.

In a statement, Kingdom Holding Company announced that they have received an advance payment of 1.1 billion riyals for the construction project, which is expected to be completed within 42 months. The company will fund the remaining amount from its own resources, while additional funds will be secured from banks.

The total area of the tower will span 5.3 million square meters, with the first phase covering 1.3 million square meters. Reports indicate that the foundation work, which is part of the first phase, is nearly complete, including the provision of sewage, electricity, and high-speed internet systems.

Prince Alwaleed bin Talal, Chairman of the Board of Directors of Kingdom Holding, stated that the construction of the Jeddah Tower is expected to be completed in three and a half years. The tower will feature hotels, apartments, offices, lobbies, and an observation deck, offering visitors breathtaking views of the city.

Once the construction is complete, the Jeddah Tower is poised to claim the record for the world’s tallest building, currently held by the Burj Khalifa in Dubai, which has maintained this title since 2010.