Jeddah Tower, world’s tallest building, ‘to open in 2019’

Saudi Prince Alwaleed bin Talal speaks during a press conference on Thursday in Jeddah. (AFP)
Updated 13 May 2017

Jeddah Tower, world’s tallest building, ‘to open in 2019’

JEDDAH: The long-delayed Jeddah Tower — which is set to be the world’s tallest building — is now expected to open in 2019, the developer said.

Saudi billionaire Prince Alwaleed bin Talal signed a construction contract for the 1km-tall structure back in 2011, but the project has been met with several delays amid difficult economic circumstances and the oil-price crash.

But in the concrete shell of the under-construction building, Prince Alwaleed this week told reporters that the doors will finally open in two years’ time.

“The project was delayed... but it’ll open (in) 2019,” Prince Alwaleed said during a visit to the site.

Alwaleed chairs Kingdom Holding Company, which is affiliated with the Jeddah Economic Company, developer of the spire-topped landmark.

Saudi Binladin Group, the contractor, was among the construction firms in the Kingdom that suffered financially after the 2014 collapse in oil prices.

GALLERY: Jeddah Tower

Prince Alwaleed spoke to reporters on the building’s 28th floor, some 183 meters in the sky. Even at this height, the Jeddah Tower already offers some spectacular views of the Red Sea.

Alwaleed said the tower will be part of a sprawling development known as Jeddah Economic City. 

“Hotels, residential areas, schools, mosques, universities, hospitals and malls will be included around the Jeddah Tower,” he said.

The triangular footprint and sloped exterior of Jeddah Tower, previously known as Kingdom Tower, is designed to reduce wind loads.

It is set to have the world’s highest observatory deck and hanging balcony, 652 meters above the sea, and house a Four Seasons hotel, office space and apartments.

        — With input from AFP

G20 trade and investment ministers discuss COVID-19 response under Saudi Arabia's presidency

Updated 15 min 46 sec ago

G20 trade and investment ministers discuss COVID-19 response under Saudi Arabia's presidency

RIYADH: The trade and investment ministers of the G20 nations met virtually on Tuesday under the presidency of Saudi Arabia to strengthen trade and investment cooperation.
The ministers agreed to continue cooperation to support the recovery of international trade and investment amid the coronavirus pandemic.
They also agreed to support the necessary reform of the World Trade Organization (WTO) to which the Riyadh Initiative on the Future of the WTO provides political support.
Khalid Al-Falih, Saudi Arabia's minister of investment, said the collective G20 response to COVID-19 had started to deliver early signs of a “resilient, and stable economic recovery.”
“As policymakers, it is our duty to prioritize the most vulnerable in our societies, including micro, small and medium-sized enterprises, and Saudi Arabia stands ready to endorse the G20 policy guidelines for MSMEs,” Falih said.
Saudi Arabia’s Minister of Commerce Majid Al-Qasabi told the meeting that measures adopted by the G20 in May were “critical for sustaining the flow of essential goods and services across borders and limiting the human toll of the pandemic.”