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Saudi tycoon to build world’s tallest tower
Sunday, 04 Aug, 2011
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A company controlled by one of the world’s richest men is planning to build the world’s tallest tower in Jeddah, Saudi Arabia.
Prince Alwaleed bin Talal bin Abdulaziz Al Saud’s Kingdom Holding has signed a deal with Saudi Binladen Group to build the more than 1km tall Kingdom Tower.
It will include a hotel, apartments and offices, the company announced.
The Burj Khalifa in Dubai, currently the world’s tallest building, is 828 metres tall.
Prince Alwaleed is a major investor in some of the biggest companies in the world, including Four Seasons Hotels.
Kingdom Holdings is also the second-biggest shareholder in News Corp, the media conglomerate currently at the centre of the phone hacking scandal in the UK.
Ian Jarrett
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