Jeddah Tower: Saudi firm resumes work on world's tallest tower
Jeddah Tower is expected to soar to 1,000 meters when complete
Riyadh: A Saudi Arabian firm backed by billionaire Prince Alwaleed bin Talal is resuming work on a tower that's set to soar to 1,000 meters when complete, making it the world's tallest skyscraper.
Kingdom Holding, majority owned by Prince Alwaleed, said Wednesday it will resume construction on the tower in Jeddah, more than a decade after the project was first conceived.
Designed to imitate the contours of a sprouting desert plant, the building was the brainchild of American architect Adrian Smith. It's set to include a Four Seasons hotel, apartments, and offices, three lobbies on the upper floors and the world's highest observation deck on the 157th level.
The tower stood half built for years amid funding constraints. Its developers now say construction will take 42 months, and 63 of 157 floors have been built.
Riyadh-based Kingdom said an associate firm, Jeddah Economic Co., has signed a 7.2 billion riyals ($1.9 billion) agreement with Saudi Binladin Group to resume construction of the Jeddah Economic Company Tower. Any remaining costs will be financed through internal resources and banking facilities, according to Jeddah.
Originally dubbed 'Kingdom Tower', the structure was designed to rise from three separate bases in continuous slopes that end at different heights to help balance the building's weight and stabilise it against the wind. It's the centerpiece of an economic city which is set to include offices, homes, retail and hospitality developments.
Infrastructure development for the first phase which spans 1.3 million square meters, has been executed. That includes electricity, water, sewage, flood drainage, and high-speed internet connectivity.
When finished, the structure will join an exclusive list of so-called mega-tall skyscrapers "- buildings 600 meters or taller, according to The Council on Tall Buildings and Urban Habitat. Only four of these currently exist. The Burj Khalifa, Merdeka 118 in Kuala Lumpur, Shanghai Tower and the Makkah Royal Clock Tower in the Saudi holy city of Mecca.