Saudi Arabia aims for highest tower in all Kingdoms

SAUDI Arabia has taken a key step forward in its plan to build the world's tallest tower and out-do Gulf neighbour Dubai, which inaugurated its own record-breaking skyscraper less than two years ago.

The Saudis yesterday awarded a $1.2 billion (730 million) contract for a spire that will soar above 3,280ft, to be named the Kingdom Tower.

Kingdom Holding, the investment firm headed by billionaire Prince Alwaleed bin Talal, said it had signed the deal with the Saudi Binladen Group to build the tower on the outskirts of the Red Sea city of Jeddah.

The 2,717ft Burj Khalifa in Dubai is currently the world's tallest building and free standing structure.

Board member of Kingdom Holding, Talal Al-Maiman said: "The decision of the partners to build the world's tallest building further demonstrates their belief in investing in this nation.

"We intend Kingdom Tower to become both an economic engine and a proud symbol of the Kingdom's economic and cultural stature in the world community. We envision Kingdom Tower as a new iconic marker of Jeddah's historic importance as the traditional gateway to the holy city of Mecca."

The new tower is one of several ambitious mega-ventures in Saudi Arabia, the world's top oil exporter. Saudi has been planning to create cities to support tens of thousands of jobs and ease reliance on foreign professionals. It has also spent billions of pounds on a new science and technology university.