Aug 02 2011 |
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Burj Khalifa to lose its crown
A new Saudi project funded by Prince Alwaleed bin Talal will see the record for tallest building in the world move away from Dubai to Jeddah
An investment firm headed by Saudi billionaire Prince Alwaleed bin Talal said this week it signed a 4.6 billion riyal ($1.2 billion) deal with the Saudi Binladen Group to build the 1km-high Kingdom Tower north of the Red Sea city of Jeddah.
"Building this tower in Jeddah sends a financial and economic message that should not be ignored," Prince Alwaleed told reporters. "It has a political depth to it to tell the world that we Saudis invest in our country."
Alwaleed's proposed skyscraper would shatter the record for the Burj, which has 160 liveable floors and rises 828m, making it not only the tallest building but also the tallest freestanding structure in the world.
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