Emaar to build the worlds tallest tower in Saudi Arab
Wednesday, 24 Jun 2009
It is reported that Dubai based Emaar Properties has been selected by Saudi Arabia’s Kingdom Holdings Company to develop the world’s tallest tower which will stand at more than 1 kilometer high.
According to a statement released by Kingdom Holdings Company, the tower will form the centerpiece of Kingdom Holdings Company’s Kingdom City, a 5.3 square kilometer mixed use development near Jeddah, Saudi Arabia.
Emaar will be in charge of developing and supervising construction of both the tower and the city, a project worth a total of USD 26.7 billion (SAR 100 billion).
The statement said that five international developers were competing for the project and Emaar was selected for its proven experience in the development of mega projects, its knowledge of the area and its social setup.
HH Prince Alwaleed bin Talal bin Abdulaziz Al Saud chairman of KHC said that “The alliance between Kingdom Holding Company and Emaar is strategic.”
The statement added that Emaar has already brought together an experienced team who have begun working on the master plan, traffic studies, environment and market research and commencement of ground work. Emaar is also working closely with the Jeddah Municipality.
The Kingdom Tower was first unveiled in 2003 and officially launched in October. In 2007 US-based engineering firm Bechtel was assigned to oversee the project but pulled out at the beginning of the year.
No timeframe was given for the estimated commencement or completion of construction.
