Construction Resumes on Jeddah Tower: Saudi Binladin Group to complete world’s tallest building

Posted on October 3, 2024   |  

Construction on Jeddah Tower is set to resume, with Saudi Binladin Group aiming to finish the 1,000-metre skyscraper, which will be the tallest building in the world.

Kingdom Holding Company announced that Jeddah Economic Company has signed an agreement with Saudi Binladin Group to restart the project, valued at $1.918 billion.

Of this amount, $293 million has already been paid for work completed on the tower so far.

The remaining construction will be funded through internal resources and bank loans, with an expected completion timeline of 42 months.

Currently, 63 of the planned 157 floors have been completed, according to Kingdom Holding.

The tower is part of the first phase of Jeddah Economic Company City, covering 1.3 million square meters of a total 5.3 million m² area.

Once finished, Jeddah Tower will be 172 meters taller than Dubai's Burj Khalifa, which stands at 828 meters.