Saudi-based Kingdom Holding is to launch a real estate project in Jeddah that will include the construction of the world’s tallest skyscraper, pan-Arab Asharq Al Awsat daily has reported, citing Kingdom’s Chairman Prince Alwaleed bin Talal.

The Saudi billionaire told the newspaper that the company will officially announce the project at a press conference in three weeks.

The skyscraper will be part of a mixed-used project worth SR75bn that will stretch over 3.5 million square metres of land, the newspaper reported.