Saudi Binladin Group (SBG) to resume the construction of Jeddah Tower
Kingdom Holding Co. (KHC) announced that its associate, Jeddah Economic Company (JEC), has signed a SAR 7.2 billion agreement with Saudi Binladin Group (SBG) to resume the construction of Jeddah Tower, set to be the world’s tallest building at over 1,000 meters. Around SAR 1.1 billion has already been paid for previously completed work. Construction is expected to be completed within 42 months.
Jeddah Tower, which will surpass Dubai’s Burj Khalifa by over 172 meters, is a key component of the larger Jeddah Economic City development. The tower’s superstructure is about one-third complete, with 63 out of 157 floors finished. The first phase of JEC’s development spans 1.5 million square meters, with infrastructure, including electricity, water, sewage, flood drainage, and high-speed internet, already in place.
The project, originally launched in 2013 with an expected completion date of 2020, experienced delays after SBG initially served as the main contractor. JEC later called on the performance bonds in 2023 and initiated a tender process. After reviewing bids from major international contractors, SBG has secured the contract to complete the tower.
The architect for Jeddah Tower is US-based Adrian Smith & Gordon Gill, with Lebanon’s Dar Al-Handasah serving as the engineering consultant. The project remains a centerpiece of Jeddah Economic City’s broader development, designed to drive economic growth and global recognition.