Saudi Arabia Building World's Tallest Tower

While the Burj Khalifa in Dubai currently holds the title of world's tallest building, a new "megatall" skyscraper currently under construction in Jeddah, Saudi Arabia will claim the title by reaching over 3,200 feet in height. With a planned completion date of 2018, the $1.5 billion Jeddah Tower is being privately funded by Jeddah Economic Company, which secured funding for the project in Q4 last year. The creator and leader of the project is Saudi Arabian Prince Al-Waleed bin Talal, chairman of Kingdom Holding Company (KHC); KHC is a partner in Jeddah Economic Company (JEC), which was formed in 2009 for the development of Jeddah Tower and City.

At the moment, only three buildings qualify as megatalls, according to Popular Science: Dubai's 2,717-foot (828-meter) Burj Khalifa (completed in 2010), the 2,073-foot (632-meter) Shanghai Tower (completed in 2015), and Mecca's 1,972-foot (601-meter) Makkah Royal Clock Tower (completed in 2012). But that number is expected to more than double by 2020, as four more join the list: Shenzhen's Ping An Finance Centre, Wuhan's Greenland Center, Jakarta's Signature Tower, and the new Jeddah Tower.

"With this deal, we will reach new, as yet unheard-of highs in real estate development, and will fulfill the company's objective of creating a world-class urban center that offers an advanced lifestyle, so that Jeddah may have a new iconic landmark that attracts people from all walks of society with comprehensive services and a multitude of uses," said Mounib Hammoud, chief executive officer of JEC.

Initially known as Kingdom Tower, the Jeddah Tower was designed by Adrian Smith + Gordon Gill Architecture and will be the centerpiece and first construction phase of the $20 billion Kingdom City development in Jeddah, Saudi Arabia, near the Red Sea. Jeddah Tower will be a mixed-use building featuring a luxury hotel, office space, serviced apartments, luxury condominiums and the world's highest observatory. While the tower's final height remains a closely guarded secret, Jeddah Tower's height will be at least 173 meters (568 feet) taller than Burj Khalifa, which was designed by Adrian Smith while at Skidmore, Owings & Merrill.

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