SAUDI ARABIA/FILE: Construction work begins for Saudi Arabia's Kingdom Tower in Jeddah, which once completed is expected to take the record as the world's tallest building

Record ID: 189463

  • Title: SAUDI ARABIA/FILE: Construction work begins for Saudi Arabia's Kingdom Tower in Jeddah, which once completed is expected to take the record as the world's tallest building
  • Date: 5th May 2014
  • Summary: RIYADH, SAUDI ARABIA (FILE- AUGUST 2, 2011) (REUTERS) SAUDI BILLIONAIRE PRINCE AL WALEED BIN TALAL ENTERING NEWS CONFERENCE ROOM/SITTING DOWN NEWS CONFERENCE BEGINNING SIGN READING (English and Arabic): "KINGDOM" (SOUNDBITE) (Arabic) OWNER OF KINGDOM HOLDING COMPANY, SAUDI PRINCE AL WALEED BIN TALAL, SAYING: "Yes, this project has a political dimension as well, to inform the entire world and to inform citizens of the Kingdom of Saudi Arabia that Saudis as investors put our money in our country regardless of what is going on around us and the events of unrest and revolutions even." MODEL OF THE TOWER
  • Embargoed: 20th May 2014 13:00
  • Keywords:
  • Location: Saudi Arabia
  • Country: Saudi Arabia
  • Topics: General
  • Reuters ID: LVA4HYWJLC71UVM53ZE3NP93X7UJ
  • Story Text: Three years ago Saudi billionaire Prince Al Waleed bin Talal announced to the world that the Kingdom intended to construct the world's tallest building, in a move to outbid Gulf neighbour Dubai.
    The tower, to be named Kingdom Tower, will be at least 3,280 ft (999.74 metres), and will be the centrepiece of the Kingdom City development in Jeddah.
    Dubai's Burj Khalifa is currently the tallest building in the world with a height of 2, 716 feet (827.84 metres).
    Designed by architects Adrian Smith and Gordon Gill, Kingdom Tower is expected to cost 1.2 billion U.S. dollars to construct.

    "The main anchors of phase one will be the tower, the highest tower in the world, the icon of this project it will be the landmark and icon of the city of Jeddah and The Kingdom of Saudi Arabia," Mounib Hammoud, CEO of Jeddah Economic Company (JEC), said in an interview on Sunday (May 4).

    "Phase one, will start being completely taking shape in 2018 because the tower will hopefully finish in 2018 and it will extend to 2020 -2021 to... depending on the market condition and the other phases of the projects can kick-start thereafter," he added.
    Kingdom Tower will feature one of the world's most sophisticated elevator systems, with one system serving an observatory at the top and travelling at a rate of 10 meters per second in both directions.
  • Copyright Holder: FILE REUTERS (CAN SELL)
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