Kingdom Holding signs contract for world\'s tallest tower

Kingdom Holding has signed the construction contract for the 1 kilometre tall Jeddah Tower - set to break Burj Khalifa’s record as the world’s tallest tower. Binladin Group, one of Saudi’s biggest contractors, won the $1.2bn deal for the tower which will cover 500,000 sq m of land and cost an estimated Dh71.7 billion. American company Adrian Smith and Gordon Gill Architecture has been employed to design and oversee development of the project. Adrian Smith designed Burj Khalifa when he was working for Skidmore Owings and Merrill. To overlook the Red Sea The tower will be in the first phase of Kingdom City, a mix used development which will cover 5.3 million square meters of land and will overlook Red Sea and Obhur Creek. Kingdom Holding which is owned by billionaire Prince Al Waleed first unveiled their plans for the tower in 2008, two years before the 828m high Burj Khalifa finished construction. The tower will comprise of a hotel, serviced apartments, luxury condominiums and offices. Once construction begins, the tower will take five years to complete