Billionaire To Build Worlds Tallest Tower

August 3, 2011 by staff 

Billionaire To Build Worlds Tallest TowerBillionaire To Build Worlds Tallest Tower, Kingdom Holding, the investment firm headed by Saudi billionaire Prince Alwaleed bin Talal and signed a 1.2 billion with Saudi group to build Binladen the tallest tower in the world.

The tower proposal – the centerpiece of the first phase of the Kingdom of the City being built north of Jeddah by Kingdom Holding Company, or KHC-will rise to over 1,000 meters and take a little over five years to complete.

“The construction of this tower in Jeddah sends a message to financial and economic should not be ignored,” said Prince Alwaleed. “He has a deep policy to tell the world that the Saudis to invest in our country,” he said.

Alwaleed, a nephew of King Abdullah bin Abdulaziz of Saudi Arabia, said the tower is economically viable and provide sustainable benefits. Kingdom Tower will eventually top 1,000 meters, but the final height is a closely guarded secret.

The tower, which was first announced in 2008, will include a hotel, apartments, condominiums and offices. Designed by U.S. architectural firm Adrian Smith & Gordon Gill, and AS + GG, the tower will occupy approximately 5.4 million square feet.

When completed, the tower will replace iconic Burj Dubai Dubai 828 meters – built by Emaar Properties, based in Dubai with a total cost of 1.5 billion and – as the world’s tallest tower.

Burj Dubai opened its doors in January 2010, with 160 habitable floors, so it is not only the tallest but also the tallest structure in the world independently.

In comparison, the tallest building in the United States, the Sears Tower in Chicago, is at 442 meters, although it has its antenna towers rising to 527 meters.

The One World Trade Center tower under construction in New York will measure 541 meters, with its antenna tower. It is due for completion in 2013.

Dubai Nakheel had planned to build a tower a mile high in Dubai, but shelved the plans in early 2009 amid the global economic crisis.

The agreement was signed between the Kingdom Tower Jeddah Economic Cooperation and Development, or JEC, a subsidiary of KHC, and the Bin Laden Group, a construction giant will also have a stake of 16.6 percent in the JEC. However, initially in June 2009, KHC signed the construction agreement with Emaar Properties to develop and oversee the building of the Kingdom City and Kingdom Tower.

Designer Adrian Smith also designed Burj Dubai while at Skidmore, Owings & Merrill, or SOM. Kingdom Tower will have a Four Seasons hotel, Four Seasons Apartments, Class an office space, luxury condominiums and the world’s highest observatory.

“The development of the design of the tower is underway, with construction to begin imminently. Drawings of the Foundation are completed and the accumulation of the tower is now been tendered. Kingdom Tower will cost approximately and 1.2 million for construction, while the cost of the project throughout the Kingdom City is expected to be and 20 million dollars.

“Our vision for the Kingdom Tower is represented by the new spirit of Saudi Arabia,” said Smith, whose experience in the super-tall tower desigat SOM also includes the Jin Mao tower in Shanghai, Nanjing Greenland Financial Center in Nanjing, China, the Trump International Hotel & Tower in Chicago and the Pearl River Tower, now in the final stages of construction in Guangzhou, China.

“Kingdom Tower height is noticeable, of course, but the iconic status of the building depends not only on that aspect. Its shape is brilliantly sculpted, so it is simply one of the world’s most beautiful buildings of any height,” said Talal Al Maiman, a member of the Board of the Kingdom Holding Company and board member of the JEC.

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