Construction of the one-kilometre high Kingdom Tower in Jeddah will start this summer with UK firm Mace as construction manager. Mace was originally formed by ex-Bovis managers and led the team that built London’s Shard, the tallest building in Europe though half-a-kilometre shorter than Dubai’s Burj Khalifa.
The Saudi Prince Alwaleed bin Talal whose behind the project has never made any secret of his irritation with the record held by Dubai’s Burj Khalifa as the world’s tallest building. Kingdom will claim that prize for the kingdom when its tower is finished in a little over five years’ time.
Growing fortunes
Saudi Arabia is growing fast with oil revenues surging to record levels last year. Prince Alwaleed has seen his Kingdom Holdings double its share price in a year leaving him richer than ever with a $27 billion fortune in the latest Gulf Business survey.
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