The ambitious project, projected to be 180 meters taller than the reigning title holder for the world’s tallest building, Burj Khalifa, when completed
The Jeddah Tower, expected to be the first 1-kilometre-tall (3,281 ft) building and the world’s tallest building in the making, will serve as a magnet for a surge in global investment in Saudi Arabia, attracting both international and domestic stakeholders to the Kingdom.
The ambitious project, projected to be 180 meter (591 ft) taller than the reigning title holder for the world’s tallest building, Burj Khalifa, when completed, will also help establish Saudi Arabia to be a major force in the global real estate market.
The tower project is slated for completion in 2028.
“These types of landmark projects have historically been key drivers of urban development, creating attractive environments for businesses, residents, and tourists alike.
Farooq Syed, CEO of Dubai-based Springfield Properties, said as the Middle East region continues to expand its influence on the global stage, projects like the Jeddah Tower will complement Dubai’s established position as a global hub, fostering increased connectivity, collaboration, and economic opportunity across the region.
Other industry and real estate sector experts said the Jeddah Tower project is about much more than just vertical ambition but will ensure that Saudi Arabia remains at the forefront of economic transformation.
Sector experts said the ambitious Jeddah Tower project could mark the next level of real estate development in Saudi Arabia, kicking off a wave of new projects and multi-billion investments in the sector – both in the commercial and residential segments.
It will also further accelerate Saudi authorities’ efforts to create unparalleled opportunities for growth across a range of industries through a slew of sweeping reforms, strategic investments, and a wave of mega-projects to enhance its infrastructure.
