Real estate development will contain the worlds tallest tower
Jeddah Economic Company (JEC) is forecasting an investment of up to SR13bn ($3.5bn) to develop the first phase of Jeddah Kingdom City, which will include the development of the worlds tallest tower.
Speaking at the Arabian World Construction Summit (AWCS) in Dubai on 12 May, Mounib Hammoud, JECs CEO, said the projects first phase was scheduled to be completed in 2020.
Hammoud said work is under way on the Jeddah Kingdom Tower, which will be the tallest building in the world at more than 1,000 metres. The tower is due to be completed in 2018.
This will be the new city centre and business district for Jeddah, said Hammoud.
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