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Peter Cooper is the editor and publisher of the ArabianMoney Investment Newsletter and website. He was formerly a partner in, sold in a private equity deal in 1996. His book 'Opportunity Dubai: Making a Fortune in the Middle East' was a best seller, and his latest... More
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  • Dubai's Emaar to build world's tallest tower in Saudi Arabia 1 comment
    Jun 14, 2009 3:37 AM

     Emaar Properties has confirmed its status as the Middle East’s leading property developer in signing a joint venture to build the world’s tallest tower in Jeddah with Prince Alwaleed bin Talal, chairman of Kingdom Holding Company, acting on behalf of the Jeddah Economic Company.

    The Dubai company is to supervise the construction of the Jeddah Kingdom City and Kingdom Tower, set to soar over 1,000 metres. Emaar was selected by Kingdom Holding from five other international developers for its previous experience in the development of mega projects and local knowledge.

    Topping the Burj Dubai

    Emaar is the developer of the Burj Dubai, currently the tallest building in the world at 818-metres, and will therefore be surpassing its own best achievement in Jeddah.

    This announcement came as the border control problem between the UAE and Saudi Arabia appeared to have been solved, and is a timely reminder of the links between the two neighbors after the recent disagreement of the location for the GCC Central Bank.

    In October last year, King Abdullah, Custodian of the Two Holy Mosques unveiled and inaugurated the two colossal projects of Kingdom City in Jeddah and Kingdom Tower in Jeddah.

    Talk then was of a mile-high or 1,600-metre high tower, and plans may have been scaled back since then. Kingdom Tower is part of the Kingdom City development which will be one of the largest and most comprehensive real estate projects to be built in Saudi Arabia located at Obhur, north of the creek of Jeddah and the mountains to the east.

    Master planning

    The master plan encompasses 5.3 square kilometres, and Kingdom City in Jeddah is 20 kilometres from the old city of Jeddah near King Abdulaziz International Airport. The built up area comprises 23 million square metres.

    The centerpiece of the development will be the landmark Kingdom Tower. The tower will rise from a large retail and conference centre podium and include five-star hotels, offices and luxury residences with dramatic, sweeping views of the Red Sea, Obhur Creek and the mountains to the east.

    Essentially triangular in plan, Kingdom Tower is conceived as a graceful, sculptural form that reflects not only the character of Jeddah but also the sky, water, and land from its taut glass skin.

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    That news is very strange because Emmar is already involved in different constructing projects in Dubai. Has Dubai government agreed to make construction of tallest building in Saudi Arabia? I think that Gulf region should concentrate more on their declining economy and not on construction of tall buildings.

    31 May 2011, 02:43 AM Reply Like
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