Kingdom Holding allocates 13.3 billion dollars for establishing Middle East tallest tower in Jeddah

The Saudi Billionaire Chairman of Kingdom Holding company Prince Walid bin Talal bin Abdul Aziz Al Saud revealed the intention of his company to establish two real estate projects in Saudi Arabia, with a cost peaks to 20 billion dollars in each of Riyadh and Jeddah. All the details will be announced by the last quarter of the current year.

According to what is written by journalist Mossaed Al-Zayani at “Al-Sharq Al-Awsat” London based newspaper the prince pointed out that the first of the two real projects would be of Jeddah with a volume of investment 13.3 billion dollars to be located in North of the city.

The multi-purposes project that would be exactly at North of Obhor Sharm would combine the tallest commercial tower in the middle in addition to residential towers of multiple designs, buildings dedicated and equipped in full for offices and a sea kourniche that would add to the project more vitality.

He indicated that the project will change the map of Jeddah city and its features.

A prize for the Prince and another for his company
Prince Al-Walid, who was speaking on the sidelines of his honouring for winning the prize of “Year figure in business world” by Arabian Business Magazine and the obtaining of Kingdom holding company the prize of “Most Distinguished Company” explained that the other real estate project in Riyadh would be around 6.6 billion dollars. This project would be a huge project of a park and hotel in addition to more than 10000 flats designed according to latest techniques that realize the contemporary requirtements.

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