Burj Khalifa has a competitor now — Kingdom Tower
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Will set a new record
The completion date for the world's tallest tower has been pushed back to 2019, a Saudi Arabian billionaire said, almost six years after launching the record-breaking project.
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Design
Alwaleed chairs Kingdom Holding Co whose affiliated Jeddah Economic Company is developing the spire-topped landmark.
The project contractor Saudi Binladin Group was among construction firms in the kingdom that suffered financially after a collapse in oil revenues from 2014.
The project contractor Saudi Binladin Group was among construction firms in the kingdom that suffered financially after a collapse in oil revenues from 2014.
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How it started
Alwaleed first announced plans for the tower in August 2011, saying it would take 36 months to build after the start of construction.
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The journey stopped
By November 2014, a four-storey foundation was in place and Alwaleed said the building would be finished in 2018.
But that was before the kingdom felt the full force of a drop in oil revenues.
But that was before the kingdom felt the full force of a drop in oil revenues.
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And it started again
In November 2015, Kingdom Holding said Jeddah Economic Company had reached a financing deal with Saudi Arabia's Alinma Investment to finish the Jeddah Tower, which then had 26 floors.
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It will be completed by 2019
Alwaleed on rode a construction elevator about 30 floors to meet reporters in the concrete shell of the building, which already offers spectacular views over the rest of Jeddah and the adjacent sea.
Photos: Jeddah Tower
Photos: Jeddah Tower