Saudi Arabia resumes construction on world’s tallest skyscraper in Jeddah

Saudi Arabia’s Kingdom Holding has announced the resumption of construction on a 1,000-meter skyscraper in Jeddah, which is expected to become the tallest building in the world by 2028.

In a statement to the Saudi Exchange, Kingdom Holding confirmed that Jeddah Economic Company, one of its associates, has signed an agreement to continue building the Jeddah Economic Tower.

The company also informed shareholders that it has partnered with the Saudi Binladin Group to resume construction on the tower, formerly known as the Kingdom Tower.

The construction deal is worth SR7.2 billion ($1.9 billion), with SR1.1 billion ($300 million) already invested in completed works.

So far, 63 of the planned 157 stories have been constructed. With a final height of over 1,000 meters, the tower will surpass Dubai’s Burj Khalifa by more than 172 meters, becoming the tallest structure in the world.

Kingdom Holding expects the remaining construction to take 42 months, targeting a completion date in the second quarter of 2028. The project will be financed through internal funds and bank loans.

The tower will serve as the centerpiece of Jeddah Economic City, which spans 5.3 million square meters. Of this, 1.3 million square meters have already been developed with key infrastructure, including electricity, water, sewage, flood drainage, and high-speed internet.

Though final details are still under wraps, the tower is expected to feature a Four Seasons hotel, office spaces, and luxury residential units.

Designed by American architect Adrian Smith, who also designed the Burj Khalifa, the tower’s development has been publicly celebrated.