EC Harris/Mace JV signs $43m Kingdom Tower deal
Pair ink contract for project management of world's tallest building
A joint venture between EC Harris and Mace has signed a contract to provide project management services for the construction of Kingdom Tower in Jeddah – the planned 1 kilometre (km) tall skyscraper set to dethrone Dubai’s 828 metre-tall Burj Khalifa as the world’s tallest building.
The JV was appointed project manager by developer Jeddah Economic Company (JEC) back in February but has had to wait almost nine months to sign the contract.
The deal is worth $43.2m (SAR 162M) and includes the management of all aspects of the $1.23bn (SAR 4.6bn) project’s delivery with specific emphasis on the management of programme and cost.
“This contract further confirms that the Jeddah project continues on its strategic path,” said Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, chairman of Jeddah Economic Company (JEC) Kingdom Holding Company.
“The selection of the working team has been completed to realise the vision of the investors and the city of Jeddah for this world-class standard national project. Also, I would like to add that 80% of Jeddah Kingdom Tower piling works has been completed by Saudi Bauer Company and will be fully completed at the end of this year,” KHC’s Eng. Talal Al Maiman added.
Kingdom Tower will be the centrepiece of JEC’s $20bn (SAR 75bn) Kingdom City development, which will be located to the north of Jeddah, overlooking the Red Sea.
The Kingdom City will consist of over 5.3km2 of urban development and will include residential, commercial, hotel, offices, retail, educational and commercial centres as well as inland water features.
The target date for completion of Kingdom Tower is 2018.