Emaar to build 1km tower, no timeframe given

KHC chairman HH Prince Alwaleed bin Talal bin Abdulaziz Al Saud shakes hands with Emaar chairman Mohammed Ali Al Abbar.

Dubai-based Emaar Properties has been selected by Saudi Arabia’s Kingdom Holdings Company (KHC) to develop the world’s tallest tower, which will stand at more than 1km high, according to a statement released by KHC.

Kingdom Tower will form the centerpiece of KHC’s Kingdom City, a 5.3km2 mixed-use development near Jeddah, Saudi Arabia. Emaar will be in charge of developing and supervising construction of both the tower and the city, a project worth a total of US $26.7 billion (SAR 100 billion).

The statement said five international developers were competing for the project and Emaar was selected for its “proven experience in the development of mega projects, its knowledge of the area and its social setup”.

“The alliance between Kingdom Holding Company and Emaar is strategic,” said KHC chairman HH Prince Alwaleed bin Talal bin Abdulaziz Al Saud.

Emaar has already brought together an experienced team who have begun working on the master plan, traffic studies, environment and market research and commencement of ground work. Emaar is also working closely with the Jeddah Municipality, said the statement.

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The Kingdom Tower was first unveiled in 2003 and officially launched in October. In 2007 US-based engineering firm Bechtel was assigned to oversee the project but pulled out at the beginning of the year.

No reason was given for Bechtel’s departure, but a KHC spokesman denied some media reports that the project was on hold indefinitely.

Kingdom City will be located 20km from the old city of Jeddah near King Abdulaziz International Airport. The city will have a total built up area of 23 million m2 and include commercial, residential, institutional, educational, entertainment, retail and hotel facilities.

It is expected to house 80,000 residents and accommodate 250,000 visitors.

No timeframe was given for the estimated commencement or completion of construction.