Riyadh – Mubasher: The construction of Jeddah Tower, the world’s tallest skyscraper, is going ahead, the head of the consortium executing the tower said on Thursday.
With a total cost of $1.5 billion, the Jeddah Tower will offer residential, hotel and shopping facilities.
Scheduled to be opened for business by 2020, the Tower's length is expected to be over 1,000 meters, eclipsing Dubai's Burj Khalifa.
The official noted that the Saudi government has focused on preventing the last Saudi purge from disrupting the major economic development schemes.
“We have faced delays. In projects of this magnitude you always have delays - I hope we'll recover the delays we've had,” Mounib Hammoud, CEO of Jeddah Economic Company (JEC), said.
JEC, the projects’ main contractor, is owned by Saudi Arabian investors including international investment Kingdom Holding, and another two companies, which were affected by the corruption purge.
