It is made up primarily of financiers (stakeholders) Kingdom Holding Company (33.35%), Abrar Holding Company (33.35%), which is owned by Samaual Bakhsh, and businessman Abdulrahman Hassan Sharbately (16.67%), as well as the tower's own contractor, Saudi Binladin Group (16.63%). Jeddah Economic Company is a closed joint stock company (PJSC) formed in 2009 as a financial entity for Jeddah Tower and Jeddah Economic City. Besix admitted in 2010 that they expected Binladin Group to win the contract. On 2 August 2011, it was publicly announced by Kingdom Holding, the investment company, that a contract had been signed by Saudi Binladin Group (SBG), that construction was going to start soon, and that the tower was expected to take 63 months to complete.īesix Group (Belgian Six Construct), which constructed the Burj Khalifa, was previously considered for the contract, but did not win, partially because SBG invested in Jeddah Economic Company (JEC), contributing SR1.5 billion (US$400 million) towards the development of the project, and holding a 16.6 percent stake in Jeddah Economic Company. (ESD) is a part of the AS + GG design team that serves as the building services engineering consultants. Thornton Tomasetti has been selected as the structural engineering firm, and Environmental Systems Design, Inc.

The development of the tower is being managed by Emaar Properties PJSC. AS + GG was formed in 2006 by Adrian Smith, Gordon Gill, and Robert Forest. The primary design of Jeddah Tower is Chicago-based architect Adrian Smith of Adrian Smith + Gordon Gill Architecture (AS + GG), the same architect who designed the Burj Khalifa while he was working for Skidmore, Owings & Merill (SOM), for which he worked almost 40 years. Northward is generally considered the direction in which the city will spread in the future. Although the Jeddah Economic City plot is nearly isolated from the current urban core of Jeddah, no land tracts of such size were available closer to the city. The Tower will also have the world's highest observatory. The focal point of the development, and Jeddah Tower's primary use, will be to house a Four Seasons hotel, Four Seasons serviced apartments, Class A office space, and luxury condominiums. The second phase of the project will be the infrastructure development needed to support the city, and the third phase has not yet been revealed. The development will essentially become a new district of Jeddah. Jeddah Economic City was designed by HOK Architects, and is estimated to cost at least SR75 billion (US$20 billion) and take around ten years to build. The area is located roughly 20 km (12 mi) north of the port city of Jeddah. It was originally planned to cover 23 km 2 (8.9 sq mi) and cost SR100 billion. The three-phase project proposed for a large area of undeveloped waterfront land with an area of 5.2 km 2 (2.0 sq mi). Jeddah Tower's 50-hectare (120-acre) plot with surrounding buildings will be the first of a three-phase Jeddah Economic City development. Reception of the proposal has been highly polarized it has received high praise from some as a culturally significant icon that will symbolize the nation's wealth and power, while others question its socioeconomic motives, and forecast that it will have negative financial consequences.Īs of 31 December 2016, 38 floors have been completed, and the central core containing elevator shafts and stairwells has reached level 49. Al-Waleed is the chairman of Kingdom Holding Company (KHC) which is a partner in Jeddah Economic Company (JEC), which was formed in 2009 for the development of Jeddah Tower and City. The creator and leader of the project is Saudi Arabian Prince Al-Waleed bin Talal, the wealthiest man in the Middle East, grandson of Ibn Saud, and nephew of the Kings of Saudi Arabia before him. The design, created by American architect Adrian Smith, who also designed Burj Khalifa, incorporates many unique structural and aesthetic features. Initially planned to be 1.6 km (1 mile) high, the geology of the area proved unsuitable for a tower of that height.

The development of Jeddah Tower seeks to bring great changes in terms of development and tourism to the city of Jeddah, which is considered the most liberal city in Saudi Arabia. It will be the centrepiece and first phase of a SR75 billion ( US$20 billion) proposed development known as Jeddah Economic City that will be located along the Red Sea on the north side of Jeddah.

Jeddah tower finish date