Developer Jeddah Economic Co. Ltd. hopes to open the world's tallest skyscraper in Jeddah, Saudi Arabia, by 2020 despite various delays, including the detention of some project supporters amid the country's recent crackdown on corruption, Reuters reported, citing Jeddah Economic CEO Mounib Hammoud.
The US$1.5 billion Jeddah Tower, which is expected to be more than 1,000 meters tall, is set to become the world's tallest building, dethroning Dubai's Burj Khalifa, which stands more than 828 meters tall. Jeddah Tower will feature residential and hotel space, as well as shopping facilities.
"In projects of this magnitude, you always have delays — I hope we'll recover the delays we've had," Hammoud said, according to the report.
The executive noted that Jeddah Economic will soon sign a contract with Saudi Electricity Co. to construct a 134-MW substation to serve the skyscraper. The company has also started negotiations with investors to construct hotels at the project.
Meanwhile, Chief Development Officer Hisham Jomah said construction at Jeddah Tower has reached the 63rd floor, while the superstructure is scheduled for completion in 2019.
