Saudi Arabia’s investment firm Kingdom Holding (KHC) has announced that the first stage of Jeddah Tower is due for completion by 2019.
Currently standing at 220m tall and 50 floors high, Jeddah Tower is set to be the world’s tallest building. It will measure one-km-high upon completion.
Jeddah Tower is the first phase of the Kingdom City project. Phase Two will include several skyscrapers, apartment buildings, and other social centers. As for Phase Three, it will promote Jeddah City by encouraging tourism in the area.
Prince Alwaleed bin Talal, the owner of KHC, said: “Jeddah Tower is going to be the tallest in the world despite the latest announcement of Dubai in building the tallest tower in the world.”
“It is a solid concrete building unlike the one announced in Dubai which is considered as a skeleton. This is why our tower will be the tallest in the world,” he added.
According to Prince Alwaleed, the total construction cost of the tower and surrounding city is estimated at SR75 billion ($20 billion).
“Construction of the Jeddah Tower will rely on cutting-edge technology, including the high-strength reinforced concrete and the pumps used to elevate it to record heights,” the KHC chairman said.
“The final height of the building would not be revealed even to project partners until six months before its completion when the size of the spire at the top will also be unveiled,” he stated.