World's tallest building in Saudi Arabia delayed AGAIN

  • Completion date for Saudi Arabia’s Jeddah Tower has been pushed back to 2019
  • It will rise more than 1,000m (3,300 feet) placing it above Dubai’s Burj Khalifa
  • The 170-storey building will feature a hotel, apartments and offices
  • The project has been hit with multiple delays since it began in August 2011 

The completion date for the world’s tallest tower has been pushed back to 2019, a Saudi Arabian billionaire said yesterday, almost six years after launching the record-breaking project.

Jeddah Tower is to rise more than a kilometre (almost 3,300 feet), placing it above Dubai’s Burj Khalifa.

‘The project was delayed… but it’ll open (in) 2019,’ Prince Alwaleed bin Talal told AFP during a visit to the site beside the Red Sea.

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The completion date for the world's tallest tower has been pushed back to 2019, a Saudi Arabian billionaire said yesterday, almost six years after launching the record-breaking project

The completion date for the world’s tallest tower has been pushed back to 2019, a Saudi Arabian billionaire said yesterday, almost six years after launching the record-breaking project

A HISTORY OF THE JEDDAH TOWER

Once dubbed ‘Kingdom Tower’, the 170-storey building is to rise more than a kilometre (almost 3,300 feet), surpassing Dubai’s Burj Khalifa as the world’s highest building.

It will feature a hotel, apartments and offices.

Prince Alwaleed first announced plans for the tower in August 2011, saying it would take 36 months to build after the start of construction.

By November 2014, a four-storey foundation was in place and Prince Alwaleed said the building would be finished in 2018.

But that was before the kingdom felt the full force of a drop in oil revenues.

In November 2015, Kingdom Holding said Jeddah Economic Company had reached a financing deal with Saudi Arabia’s Alinma Investment to finish the Jeddah Tower, which then had 26 floors.

Now the project has been pushed back to the end of 2019. 

Prince Alwaleed chairs Kingdom Holding Co whose affiliated Jeddah Economic Company is developing the spire-topped landmark.

Once dubbed ‘Kingdom Tower’, the 170-storey building will surpass Dubai’s Burj Khalifa as the world’s highest building.

It will feature a hotel, apartments and offices, as well as a large outdoor viewing deck that doubles as an ‘air park’.

Costs for the project had originally been estimated at around £900 million ($ 1.2 billion).

But delays and an oil price crash have skyrocketed the total cost to at least £1.5 billion ($ 2 billion).

The huge fund, compliant with Islamic sharia law, will also be used to develop the first phase of Jeddah Economic City.

The City is an urban project surrounding the tower in the Obhur area north of Jeddah.

The project contractor Saudi Binladin Group was among construction firms in the kingdom that suffered heavy financial losses after a collapse in oil revenues in 2014.

The company, which has developed other prominent buildings in Saudi Arabia, was founded more than 80 years ago by the father of deceased Al-Qaeda leader Osama bin Laden.

Binladin Group late last year said it had completed payment to 70,000 laid-off employees.

Prince Alwaleed first announced plans for the tower in August 2011, saying it would take 36 months to build after the start of construction.

By November 2014, a four-storey foundation was in place and Prince Alwaleed said the building would be finished in 2018.

A size comparison of some of the world's tallest buildings. The Kingdom Tower - now called The Jeddah Tower - will be built before 2020 and reach a height of more than a kilometre (almost 3,300 feet)

A size comparison of some of the world’s tallest buildings. The Kingdom Tower – now called The Jeddah Tower – will be built before 2020 and reach a height of more than a kilometre (almost 3,300 feet)

Previously dubbed 'Kingdom Tower', the 170-storey building is to rise more than a kilometre (almost 3,300 feet), surpassing Dubai's Burj Khalifa as the world's highest building. A computer generated image of how the tower will look

A model of the tower

Previously dubbed ‘Kingdom Tower’, the 170-storey building is to rise more than a kilometre (3,300 feet), surpassing Dubai’s Burj Khalifa as the world’s highest building. Left, a computer generated image of how it will look, and right, a model of the building

But that was before the kingdom felt the full force of a drop in oil revenues.

In November 2015, Kingdom Holding said Jeddah Economic Company had reached a financing deal with Saudi Arabia’s Alinma Investment to finish the Jeddah Tower, which then had 26 floors.

Prince Alwaleed on Thursday rode a construction elevator about 30 floors to meet reporters in the concrete shell of the building, which already offers spectacular views over the rest of Jeddah and the adjacent sea.

Kingdom Holding has shares in the Euro Disney theme park, Apple, News Corporation and US banking giant Citigroup, among other firms.

The skyscraper is intended to be the centre piece of the Kingdom City development beside the Red Sea and will have 170 floors, most of which will be habitable. This is an image of what it might be like to look down on the structure

The skyscraper is intended to be the centre piece of the Kingdom City development beside the Red Sea and will have 170 floors, most of which will be habitable. This is an image of what it might be like to look down on the structure

An illustration of what the buildings luxurious lobby might look like

An illustration of what the buildings luxurious lobby might look like

The Burj Khalifa, by comparison, stands at 2,716 feet. New York City's Freedom Tower, currently the fifth tallest in the world, is dwarf-like at 1,792 feet

The Burj Khalifa, by comparison, stands at 2,716 feet. New York City’s Freedom Tower, currently the fifth tallest in the world, is dwarf-like at 1,792 feet

The tower will feature a stunning viewing deck allowing visitors to walk around an 'air park'

The tower will feature a stunning viewing deck allowing visitors to walk around an ‘air park’

The project has been hit with multiple delays since it began in August 2011

The project has been hit with multiple delays since it began in August 2011

'The project was delayed... but it'll open (in) 2019,' Prince Alwaleed bin Talal (pictured) told AFP during a visit to the site beside the Red Sea

‘The project was delayed… but it’ll open (in) 2019,’ Prince Alwaleed bin Talal (pictured) told AFP during a visit to the site beside the Red Sea

 


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