SAUDI FIRM SECURES FUNDING FOR WORLD'S TALLEST BUILDING
The tower which will feature a Hotel, apartments and offices is slated for completion in 2018.
The saudi corporation behind plans for the world's tallest building secured financing to complete the record breaking project.
Kingdom holding, chaired by saudi prince , Alwaleed Bin Talal, said on Sunday that its affiliate , Jeddah Economic company had reached a more than 2 billion US dollars financing deal with Saudi Arabia's Aliuma Investment to finish the Jeddah Tower in the Red sea city.
Previously dubbed"kingdom Tower" the 170 storey building is to rise more than a kilometre,surpassing Dubai's Burj Khalifa as the worlds highest building .
Costs for the project had previously been estimated at 1.2 billion US dollars.
The saudi corporation behind plans for the world's tallest building secured financing to complete the record breaking project.
Kingdom holding, chaired by saudi prince , Alwaleed Bin Talal, said on Sunday that its affiliate , Jeddah Economic company had reached a more than 2 billion US dollars financing deal with Saudi Arabia's Aliuma Investment to finish the Jeddah Tower in the Red sea city.
Previously dubbed"kingdom Tower" the 170 storey building is to rise more than a kilometre,surpassing Dubai's Burj Khalifa as the worlds highest building .
Costs for the project had previously been estimated at 1.2 billion US dollars.