Prince Alwaleed meets to discuss Jeddah Tower

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, chairman of Kingdom Holding Company (KHC) recently held a meeting in Jeddah with the Jeddah Project partners Saleh Bin Laden, Samaual Bakhsh and Abdulrahman Hassan Sharbatly. 

Participants at the meeting discussed latest developments and progress being made with the mega Jeddah project.

Prince Alwaleed said: “Jeddah tower is on a solid strategic path.”

In April 2012, Prince Alwaleed who initiated and has been the driving force behind the decision to build the world’s tallest tower in Jeddah, announced the investment of SR1.5bn from the SBG for a 16.63% stake in (JEC), owner of the Jeddah mega project that includes the world’s tallest tower (Kingdom Tower) with a height of over 1,000 meters with a total cost of SR4.6bn.

The Kingdom Tower is estimated cost of the entire Kingdom City project is anticipated to be SR75bn (US$20 billion).

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