Kingdom Holding Co, chaired by billionaire Saudi Prince Alwaleed bin Talal has announced that it has secured the funding to build the worlds tallest ever tower. Jeddah Economic Company, the developers responsible for the skyscraper, have reached a 2 billion dollar deal to complete the Jeddah Tower in the Red Sea city, viralthread reports.
The building will be a 170-storey monster that will rise to over a kilometre, surpassing Dubai’s Burj Khalifa as the world’s highest building.
This new skyscraper completely dwarfs New York City’s Freedom Tower, which is currently the fifth tallest in the world at 1,792 feet. Jeddah Tower rises to almost double the size and stands at a staggering 3,300 ft.
The building is due to be finished in 2018 and Mounib Hammoud, chief executive officer of Jeddah Economic Company, said he expects the project to be finished on time ‘now that the agreement has been signed and required funds secured’.
That means they will be building one floor every 4 days which is a mightily impressive rate of construction.
Mounib Hammoud went on to say that ‘The overall layout of Jeddah Economic City is designed to accommodate a comprehensive, multipurpose environment, replete with aspects of a modern lifestyle over its 5.3 square kilometers, supported by world-class, state-of-the-art infrastructures.
‘The first phase, to be constructed over 1.5 square kilometers, will accommodate more than 3.3 million square meters of modern, multipurpose structures, which will form the nucleus of northern Jeddah’s downtown, bolstering the city’s standing in the world.’ Source; Viralthread
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