Mammoth KHC projects unveiled
Riyadh, October 12, 2008
King Abdullah, custodian of the Two Holy Mosques, inaugurated two colossal projects of Kingdom Holding Company (KHC) being built at a total investment of over SR100 billion ($26.6 billion) in Jeddah.
The designs and plans of these projects - Kingdom City and 1000-metre high Kingdom Tower, which is to become the tallest tower in the world - were unveiled for the first time at the opening of a major international architectural exhibition “Towards the First World” in Jeddah on Saturday.
The launch was held in the presence of crown prince Sultan Bin Abdulaziz, prince Khaled Alfaisal governor of Makkah Province, prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC) and Adel Muhammad Faqih, mayor of Jeddah and other members of the royal family.
KHC was the main sponsor of this historical event. The two iconic projects from KHC were the highlight of the exhibition.
During the event, King Abdullah and Prince Alwaleed toured KHC’s exhibition of the master plan and designs of the project.
Alwaleed said the KHC has many grand investments in real estate in Saudi Arabia and this was one of them.
'We are extremely delighted at the unveiling of the designs and plans of KHC’s iconic Kingdom City and Kingdom Tower projects in the city of Jeddah by the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz which will signify KHC’s contribution in placing Saudi Arabia at the forefront of the first world and reaffirming KHC as one of the world leading real estate developers.”
'King Abdullah has previously inaugurated the Kingdom Tower in Riyadh during which Prince Alwaleed presented the King with the awards that Kingdom Centre had received: the Best New Skyscraper of the Year 2003 for Kingdom Tower and The Innovative Design & Construction of a New Project 2003 for Al Mamalaka Mall,' he added.
Talal Al Maiman, executive director for development and domestic investments and a member of KHC’s investment committee said KHC make use of its resources to the utmost potential to lead to outstanding achievements and make future visions a reality through leading and challenging projects.
Organized by the City of Jeddah, the exhibition features sixteen projects currently planned for the Makkah and Jeddah regions.
Kingdom Tower is part of the Kingdom City development which will be one of the largest and most comprehensive real estate projects to be built in Saudi Arabia located at Obhur, North of the creek of Jeddah and the mountains to the east.
Prominently located on a prime site, the master plan, encompassing 7.1 sq km, Kingdom City is 20 km from the old city of Jeddah near King Abdulaziz International Airport.
The area that comprises of buildings is 23 million square meters includes commercial, residential, institutional, educational, entertainment, retail and hotel facilities.
The centerpiece of the development will be the landmark Kingdom Tower. Kingdom City is expected to house 80,000 residents and accommodate 250,000 visitors who will enjoy its facilities; lakes, canals, water sports and other leisure activities.
Kingdom Tower will include five-star hotel accommodations, office space and luxury residences that encompass dramatic, sweeping views of the Red Sea, Obhur Creek and the mountains to the east.-TradeArabia News Service