Finance secured for world?s largest building
The Saudi developer behind plans for the world’s tallest building said it had secured financing to complete the record-breaking project, Agence France-Presse reported.
Kingdom Holding Co, chaired by billionaire Saudi Prince Alwaleed bin Talal, said its affiliate Jeddah Economic Company had reached a more than US$2 billion financing deal with Saudi Arabia’s Alinma 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 world’s highest building.
Alwaleed said a year ago that the tower, which will feature a hotel, apartments and offices, was slated for completion in 2018. At that time the four-storey foundations of the building were finished and Alwaleed said ?now we are on the verge of building a floor every four days?.