Saudi-based Kingdom Holding is to launch a mega real estate project in Jeddah that will include the construction of the world's tallest skyscraper, pan-Arab Asharq Al Awsat daily has reported, citing Kingdom's Chairman Prince Alwaleed bin Talal. The Saudi billionaire told the newspaper that the company will officially announce the project at a press conference in three weeks. The mile-high tower overlooking the Red Sea will be built on an area of 3.5 million square metres in the Obhur Gulf, 20 kilometres north of the Jeddah city centre and not far away from Jeddah's King Abdulaziz International Airport.
Its plan to build a 1.6-kilometre-high tower in the Red Sea port city of Jeddah, an official source has said.
The tallest tower in the world when completed, already informally dubbed the mile-high tower, will be double the height of Dubai's Burj Khalifa, which is currently the world's tallest man-made structure.
According to official information issued by the company, a city to be constructed around the tower will sprawl over an area of 23 million square metres at a total investment of SR100 billion ($26.6 billion). The city will have the capacity to accommodate 80,000 people in addition to shopping and entertainment facilities. It will have hospitality facilities catering for up to a million visitors.
Kingdom Tower Jeddah will have retail facilities and conference halls at the top besides a five-star hotel, offices and deluxe residential units. It was first announced by Kingdom Holding in February 2008.
Last year, reports had suggested the project was either on hold or scaled back. Kingdom was quick to refute these reports.
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