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Prince Alwaleed signs US$1.2 billion contract for world's tallest tower

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Published on 03/08/11 - Updated on 17/03/22

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The chairman of Kingdom Holding Company, HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, who has been the driving force behind the decision to build the world's tallest tower in Saudi Arabia, announced that the construction contract has been signed.

The chairman of Kingdom Holding Company, HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, who has been the driving force behind the decision to build the world's tallest tower in Saudi Arabia, announced that the construction contract has been signed today. Kingdom Tower, with a height of over 1,000 meters, will begin construction imminently in Jeddah, Saudi Arabia. The overall construction cost of the tower is SR4.6 billion (US$1.2 billion) and the overall estimated cost of the entire Kingdom City project is anticipated to be SR75 billion (US$20 billion). A Palace of 100 suites, apartments and offices will be built (500 000 square meters) in the tower.

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