Kingdom Holding Company (KHC) announces that Jeddah Economic Company, an associate company, has signed an agreement to resume the construction of Jeddah Economic Company Tower project.
The Contract awarded to Saudi Binladin Group Company.
The value of the contract is SAR 7.2 billion (out of which around SAR 1.1 billion has been already paid for construction works previously completed on the tower), company stated.
The Jeddah Economic Company Tower, will be the world’s tallest structure at over 1000 meters, has seen the completion of 63 floors out of the total 157.
The tower will be part of the first phase of 1.3 million square meters of the total area of Jeddah Economic Company City, which is approximately 5.3 million square meters.
The infrastructure development for the entire first phase, spanning 1.3 million square meters, has been executed, containing essential amenities such as electricity, water, sewage, flood drainage, and high-speed internet connectivity.
The anticipated construction period is 42 months.
