Dubai-Jeddah Towers Project is on schedule

Riyadh: Prince Abdul Aziz Bin Misha'al, chief executive officer of Al Shoula Group, has denied television channel reports about halting the company's SR7.24 billion (about Dh7.2 billion) Dubai-Jeddah Towers in Saudi Arabia.

He said the project will be implemented on schedule.

Prince Abdul Aziz, who is also deputy chairman of the board of directors of the Dubai-Jeddah Towers Project, criticised some television channels for broadcasting such stories.

"They must verify reports about halting or delaying of such big projects," he told reporters after chairing a meeting of the board of the project at the headquarters of Al Shoula Group.

According to him, the project comes in the framework of the ongoing real estate activities being witnessed in the kingdom.

Prince Abdul Aziz said that the board meeting approved the procedures for implementing the Dubai-Jeddah Towers Project on the Red Sea coast in Jeddah corniche. The 82-storey skyscraper project would be implemented on an area of 60,000 square metres.

The 400-metre high-rise would consist of commercial and residential towers.

The project is expected to be completed within three years.