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03 October 2024

Jeddah Tower Construction Resumes After Long Hiatus

Saudi Arabia's ambitious skyscraper project reawakens as funding and support stabilize

Construction on the Jeddah Tower, the ambitious project set to become the world's tallest skyscraper, has resumed after years of delays stemming from not only economic uncertainties but also regional political turmoil. This iconic structure, envisioned to reach a staggering 1,000 meters upon completion, had been on hold since 2018 when work was halted amid widespread government crackdowns on corruption, which saw multiple high-profile arrests.

The Jeddah Economic Company (JEC), which is overseeing the project, recently held a ceremony marking the resumption of construction. The event was graced by Saudi Prince Alwaleed bin Talal, one of the key backers of the tower and chairman of Kingdom Holding Company. Alwaleed, who was initially detained during the 2017 crackdown, was released after several months, and he expressed palpable excitement about the project’s revival by posting a video showing the digital rendering of the tower alongside the jubilant caption, “We’re back.”

For many, the Jeddah Tower stands as more than just architectural ambition; it's emblematic of Saudi Arabia's Vision 2030, which outlines the kingdom’s plan to diversify its economy and lessen its dependence on oil revenue. Designed by renowned architect Adrian Smith, the building will feature not only luxurious hotel accommodations—specifically, the Four Seasons—but also residential apartments and office spaces, alongside three lobbies located on upper floors as well as the world's highest observation deck on the 157th level.

Following significant delays, with the project originally launched to coincide with Saudi Arabia's post-oil economic diversification efforts, construction is now expected to take around 42 months. Of the scheduled 157 floors, about 63 have already been constructed. The Saudi Binladin Group, which is undertaking the construction, reached a significant agreement worth 7.2 billion riyals (about $1.9 billion) with JEC to continue the tower’s development. The financing of any remaining costs will come from internal resources and banking facilities.

Initially, the building was known as the Kingdom Tower. Its unique design aims to mirror the shape of a desert plant sprouting from the earth, symbolizing growth and resilience. Featuring multiple bases with slopes tapering at varied heights, the tower is engineered to handle both physical stress from wind and the weight of its own structure. It is being constructed as part of the broader Jeddah Economic City project, envisioned to include various forms of housing, commercial developments, and sophisticated infrastructure to support lifestyle and economic activity.

Prior to the interruption, the projected completion schedule had aimed for the structure to surpass the Burj Khalifa's height of 828 meters—a record it has held since 2010. The new resumption timeline speculates the tower will be fully completed by 2028, pushing Jeddah to the forefront of global urban development and architectural achievement. The hope is not only to create the tallest building but also to stimulate the local economy by attracting tourists and businesses alike.

This revival of the Jeddah Tower project aligns with broader infrastructural development initiatives across Saudi Arabia, which include ambitious plans like the Neom project, set to feature futuristic cities powered by sustainable energy. The fact these projects are moving forward gives insight not only to the ambitious dreams of Saudi Arabia but also signifies strategic resilience amid the changing economic tides, both locally and globally.

Similarly, other major skyscraper developments, including notable structures like the Merdeka 118 tower underway in Kuala Lumpur, aim to contribute to the modern skyline redefining urban spaces in the post-pandemic era. These projects denote not just engineering feats but also represent investment confidence returning to real estate and tourism, sectors significantly impacted by recent global events.

The successful resumption of the Jeddah Tower is seen as pivotal, not just for the developers but also for Saudi Arabia's vision of itself as a burgeoning center of commerce, culture, and global tourism. With construction back on track, all eyes will now be on how the city of Jeddah evolves as its skyline strengthens and transforms.

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