The local Saudi Binladin Group is expected to win the contract to build the world’s tallest tower on the outskirts of Jeddah.
According to sources close to the project, Binladin submitted the lowest price when bids were submitted in May 2010 and is favourite to win the main construction package on the 1-kilometre Kingdom Tower project.
Dubai-based Emaar Properties is managing the development of Kingdom Tower, as well as the surrounding 23-square-kilometre Jeddah Kingdom City for the local Kingdom Holding Company.
The state-owned Kingdom Holding Company approved the plans for the tower project in early April.
US-based Adrian Smith & Gordon Gill Architecture was selected to design the tower in March last year. The tower will contain hotels, offices, residential apartments and a shopping centre.
When completed, the Kingdom Tower will be almost 200 metres taller than Emaar’s 828m Burj Khalifa in Dubai.
The Saudi Binladin Group is currently working on the the 577m-tall Makkah Clock Royal Tower, which will be the world’s second tallest building when completed.
The clock tower will be 59m taller than the 508m tall Taipei 101 tower in Taiwan, but still 251m shorter than Burj Khalifa in Dubai. One of the key features of the tower’s design is 40-metre high by 40-metre wide clocks that can be seen from up to 17 kilometres away.
The Makkah Clock Royal Tower is part of the 4.5 million-square-metre, seven-building Abraaj al-Bayt complex (MEED 11:3:10).