Saudi tycoon Prince Al-Waleed bin Talal has revealed that the Jeddah Tower, slated to be the world’s tallest structure, would cost more than 100 billion riyals ($26 billion).
Bin Talal told the Saudi daily Alwatan on Tuesday as that the 1,000-metre building would accommodate up to 100,000 people when it is completed in 2028.
“When it is completed, total investments in this tower will exceed SAR100 billion …the tower will house 75,000-100,000 residents,” he said after announcing the resumption of the project following a stoppage of several years.
Work on Jeddah Tower was launched in 2013 but was halted in early 2018 amid a nationwide anti-corruption purge led by Crown Prince Mohammed bin Salman. The development consortium, led by Jeddah Economic Company (JEC), has said 63 of the planned 157 floors have been constructed.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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