Interior minister graces graduation ceremony at Naif Arab University for Security Sciences    Prophet's Mosque imam underscores Islam's core values at peace conference in India    Saudi, Indian foreign ministers co-chair Cooperation Committee meeting in New Delhi    198 new sites documented in the National Antiquities Register    Cityscape Global 2024: Saudi real estate sector booms with SR180 billion in new projects    PIF to sell 2% stake in stc via accelerated book-building    SAMA issues rules for opening electronic wallets    TGA suspends 2 passenger transport applications and an application for food delivery    South Korean actor Song Jae Lim found dead at 39    Trump names Fox News host Pete Hegseth as defense secretary pick    There is nowhere safe in Gaza, UNRWA director says    Archbishop of Canterbury resigns over Church abuse scandal    US says it will not limit arms transfers to Israel    Don't sit on the toilet for more than 10 minutes, doctors warn    Saudi Champion Saeed Al-Mouri scores notable feat in Radical World Championship in Abu Dhabi with support from Bin-Shihon Group    'Marvels of Saudi Orchestra' to dazzle audience in Tokyo on Nov. 22    Rita Ora is tearful in tribute to Liam Payne at MTV Awards    France to deploy 4,000 police officers for UEFA Nations League match against Israel    Al Nassr edges past Al Riyadh with Mane's goal to move up to third    Al Ahli continues strong form with 2-0 win over Al Raed in Saudi Pro League    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Deal signed to build world's tallest tower in Jeddah
Published in The Saudi Gazette on 03 - 08 - 2011

The Kingdom Tower design is highly technological and distinctly organic. With its slender, subtly asymmetrical massing, the tower evokes a bundle of leaves shooting up from the ground. The sleek, streamlined form of the tower was inspired by the folded fronds of young desert plant growth.
RIYADH – Kingdom Holding Company has signed a SR4.6 billion ($1.2 billion) deal with the Saudi Binladen Group (SBG) to build the world's tallest tower, a press release said here Tuesday.
The Kingdom Tower, to be built in Jeddah overlooking the Red Sea and Obhur Creek, is part of the first phase of Kingdom City.
The sprawling mega project was announced in 2008 and is slated to cover a two-square mile area.
Kingdom Tower is to be over 3,280 feet (1,000 meters) tall. It'll include a hotel, serviced apartments, luxury condominiums and offices, occupying roughly 5.4 million square feet.
The Kingdom Tower complex will contain 59 elevators, including 54 single-deck and five double-deck elevators, along with 12 escalators. Elevators serving the observatory will travel at a rate of 10 meters per second in both directions.
The deal was signed between Jeddah Economic Co., a KHC affiliate, and the Binladen Group, a construction giant that will also take a 16.6 percent stake in JEC.
“Building this tower in Jeddah sends a financial and economic message that should not be ignored,” said Chairman of Kingdom Holding Company Prince Alwaleed Bin Talal.
“We intend Kingdom Tower to become both an economic engine and a proud symbol of the Kingdom's economic and cultural stature in the world community,” said Talal Al-Maiman, Executive Director, Development and Domestic Investments, a board member of Kingdom Holding Company and a board member of Jeddah Economic Company, which was formed in 2009 to develop Kingdom City in Jeddah.
The capital of JEC is made up of SR8.8 billion in land value, assets that are SR7.3 billion, plus SR1.5 billion in cash contributed by SBG.


Clic here to read the story from its source.