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Jeddah to host world's tallest tower by 2016

By Issac John DUBAI -- Kingdom Holding , the investment firm headed by Saudi billionaire Prince Alwaleed bin Talal signed a $1.2 billion deal with the Saudi Binladen Group to build the world's tallest tower.

The proposed tower -- the centerpiece of the first phase of Kingdom City being built north of Jeddah by Kingdom Holding Company , or KHC --will rise more than 1,000 meters and take just over five years to complete.

"Building this tower in Jeddah sends a financial and economic message that should not be ignored," Prince Alwaleed said. "It has a political depth to it to tell the world that we Saudis invest in our country," he added.

Alwaleed, a nephew of King Abdullah bin Abdulaziz of Saudi Arabia, said the tower is economically viable and will provide sustainable profits. Kingdom Tower will eventually top 1,000 metres, but the final height is a closely guarded secret.

The tower, which was first announced in 2008, will feature a hotel, serviced apartments, luxury condominiums and offices. Designed by US architecture firm Adrian Smith & Gordon Gill, or AS+GG, the tower will occupy roughly 5.4 million square feet.

When completed, the tower will replace Dubai's iconic 828-metre Burj Khalifa -- built by Dubai-based Emaar Properties for a total cost of $1.5 billion -- as the tallest tower in the world.

Burj Khalifa , opened in January 2010, has 160 livable floors, making it not only the tallest building but also the tallest freestanding structure in the world.

By comparison, the tallest building in the United States, the Willis Tower in Chicago, stands at 442 metres, although counting its antenna towers it rises to 527 metres.

The One World Trade Center tower being built in New York will measure 541 metres with its antenna spire. It is due for completion in 2013.

Dubai developer Nakheel had planned to build a tower more than one kilometre high in Dubai, but it shelved those plans in early 2009 amid the global economic crisis.

The Kingdom Tower deal was signed between Jeddah Economic Co, or JEC, a KHC affiliate, and the Binladen Group, a construction giant that will also take a 16.6 per cent stake in JEC. However, initially in June 2009, KHC signed the construction deal with Emaar Properties to develop and oversee the construction of Kingdom City and Kingdom Tower.

Designer Adrian Smith also designed Burj Khalifa while he was at Skidmore, Owings & Merrill, or SOM. Kingdom Tower will feature a Four Seasons hotel, Four Seasons serviced apartments, Class A office space, luxury condominiums and the world's highest observatory.

"Design development of the tower is under way, with construction to begin imminently. Foundation drawings are complete and the piling for the tower is currently being tendered. Kingdom Tower will cost approximately $1.2 billion to construct, while the cost of the entire Kingdom City project is anticipated to be $20 billion.

"Our vision for Kingdom Tower is one that represents the new spirit of Saudi Arabia," said Smith, whose experience in super-tall tower desigat SOM also includes Jin Mao Tower in Shanghai, Nanjing Greenland Financial Center in Nanjing, China, the Trump International Hotel & Tower in Chicago and Pearl River Tower, now in the late stages of construction in Guangzhou, China.

"Kingdom Tower's height is remarkable, obviously, but the building's iconic status will not depend solely on that aspect. Its form is brilliantly sculpted, making it quite simply one of the most beautiful buildings in the world of any height," said Talal Al Maiman, a Board member of Kingdom Holding Company and a board member of JEC.

© Khaleej Times 2011