ID :
65701
Sun, 06/14/2009 - 13:06
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https://oananews.org//node/65701
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Emaar wins world's tallest tower deal
Kingdom Holding Company, the firm chaired by Saudi Prince Alwaleed bin Talal bin Abdulaziz Al Saud, yesterday said it has struck an alliance with Dubai-based Emaar Properties to build the world's tallest building, Kingdom Tower in Jeddah according to a report in Emirates Business.
Prince Alwaleed, on behalf of Jeddah Economic Company, has signed a joint venture with Emaar Chairman Mohamed Ali Alabbar to that effect, the companies said in a statement.
Emaar is the developer of the Burj Dubai, currently the tallest man-made structure in the world. "The alliance between Kingdom Holding and Emaar is strategic," said Prince Alwaleed.
Emaar is in charge of developing and supervising the construction of Jeddah Kingdom City and Kingdom Tower, designed to be the highest in the world.
The Dubai-based developer was selected by Kingdom Holding out of five other international developers, the statement said. "Emaar was able to bring together an experienced team within a week from the signing to work on the development, master planning, traffic study, environment and updating market research and commencement of ground work. Furthermore, the preliminary licence was obtained and the Emaar team is working closely and in co-ordination with the Jeddah municipality," the statement said.
In October, King Abdullah inaugurated the two projects of Kingdom City and Kingdom Tower in Jeddah. The tower will be more than a kilometre high. The project will have a total investment of more than SR100 billion (Dh367bn).
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. The master plan encompasses 5.3 square kilometers.
Kingdom City is 20km from the old city of Jeddah near King Abdulaziz International Airport. The area that comprises of buildings is 23 million square metres including commercial, residential, institutional, educational, entertainment, retail and hotel facilities.
The centrepiece of the development will be the Kingdom Tower, the statement said.
Kingdom City is expected to house 80,000 residents and accommodate 250,000 visitors, the statement added. The tower will rise from a large retail and conference centre podium to and include five-star hotel accommodations, office space and luxury residences that encompass dramatic, sweeping views of the Red Sea, Obhur Creek and the mountains to the east. – Emirates Business 24|7
Prince Alwaleed, on behalf of Jeddah Economic Company, has signed a joint venture with Emaar Chairman Mohamed Ali Alabbar to that effect, the companies said in a statement.
Emaar is the developer of the Burj Dubai, currently the tallest man-made structure in the world. "The alliance between Kingdom Holding and Emaar is strategic," said Prince Alwaleed.
Emaar is in charge of developing and supervising the construction of Jeddah Kingdom City and Kingdom Tower, designed to be the highest in the world.
The Dubai-based developer was selected by Kingdom Holding out of five other international developers, the statement said. "Emaar was able to bring together an experienced team within a week from the signing to work on the development, master planning, traffic study, environment and updating market research and commencement of ground work. Furthermore, the preliminary licence was obtained and the Emaar team is working closely and in co-ordination with the Jeddah municipality," the statement said.
In October, King Abdullah inaugurated the two projects of Kingdom City and Kingdom Tower in Jeddah. The tower will be more than a kilometre high. The project will have a total investment of more than SR100 billion (Dh367bn).
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. The master plan encompasses 5.3 square kilometers.
Kingdom City is 20km from the old city of Jeddah near King Abdulaziz International Airport. The area that comprises of buildings is 23 million square metres including commercial, residential, institutional, educational, entertainment, retail and hotel facilities.
The centrepiece of the development will be the Kingdom Tower, the statement said.
Kingdom City is expected to house 80,000 residents and accommodate 250,000 visitors, the statement added. The tower will rise from a large retail and conference centre podium to and include five-star hotel accommodations, office space and luxury residences that encompass dramatic, sweeping views of the Red Sea, Obhur Creek and the mountains to the east. – Emirates Business 24|7
