Kingdom Holding Company (KHC) has launched plans to build the tallest tower in the world as part of a US $26.7 billion (SAR100 billion) project in Saudi Arabia.
The Kingdom Tower will be more than 1km high and form the centerpiece of Kingdom City to be built 20km from the old city of Jeddah according to a KHC statement.
King Abdullah and Prince Alwaleed both attended the inauguration. Prince Alwaleed said the two projects “signify KHC’s contribution to placing Saudi Arabia at the forefront of the first world and reaffirming KHC as one of the world’s leading real estate developers.”
The news follows Dubai developer Nakheel’s announcement to also build the world’s tallest tower at more than 1km high as part of a $38 billion (AED140 billion) development at Dubai’s Arabian Canal.
Kingdom City will cover an area of 7.1km2 with a built up area of 23 million m2 comprised of commercial, residential, institutional, educational, entertainment, retail and hotel facilities.
The city is expected to house 80,000 residents and accommodate 250,000 visitors.
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