Brilio.net/en - Watch your six Dubai!
Neighboring Saudi Arabia has taken the first steps to creating the world's tallest building. The "Jeddah Tower" will kiss the sky at an astounding height of 1 kilometer (1000 meters), or around 180 meters higher than current record holder Burj Khalifa (827 meters).
Saudi Arabia has finally secured financing to fund the estimated $1.2 billion project and construction is planned to start next week. The project will be funded by the Jeddah Economic Company and Saudi Arabia's Alinma Investment.
The mega-tower will be a part of the greater property development project called Jeddah City.
"With this deal, we will reach new, as yet unheard of highs in real estate development, and will fulfill the company's objective of creating a world-class urban center that offers an advanced lifestyle, so that Jeddah may have a new iconic landmark that attracts people from all walks of society with comprehensive services and a multitude of uses," said Mounib Hammoud, Chief Executive Officer of Jeddah Economic Company.
Once finished, the tower will boast 200 floors that overlook the Red Sea and is estimated to require 5.7 million square feet of concrete and 80,000 tons of steel.
(brl/red)
