A contract worth A SR620 million ($165.3 million) has been awarded to developers to develop the infrastructure of the Jeddah Tower and Jeddah Economic City project.
The contract has been given to the Al-Fouzan Trading & General Construction Company that will aim to complete the project in 12 months.
According to the plan the tower will be located in an area of 5.3 million square meters and include 439 apartments, 200 hotel rooms, 59 elevators and 2,205 parking spaces. However the main attraction of the Jeddah Tower will be that it will break new world records for tallest building, highest occupied floor, highest architectural top, highest tip and highest sky terrace.
On behalf of the Jeddah Economic City, the agreement was signed by Talal Almaiman, CEO of Kingdom Holding Company (KHC) and board member of the Jeddah Economic Company. He said in a statement, this contract is one of the largest private infrastructure contracts in Saudi Arabia and the signing of the infrastructure contract will open the doors to investment opportunities for all.”
Mounib Hammoud, CEO of JEC, added: “The implementation of the advanced infrastructure is considered an essential step in positioning this mega development as a world class project.
In November, US-based Guardian Glass was hired to supply the equivalent of more than 55 football fields of glass for the Jeddah Tower project.
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