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JEC awards $44m Saudi tower contract

Jeddah, November 5, 2013

Jeddah Economic Company (JEC), chaired by Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, has signed up top British company EC Harris Mace to provide project management services for its Kingdom Tower project, which on completion will become the world’s tallest tower standing tall at over 1000m.

The SR162 million ($44.1 million) contract includes the management of all aspects of the project’s delivery with specific emphasis on the management of program and cost.

Commenting on the progress, JEC board member Talal Al Maiman said about 80 per cent of the piling works at the Kingdom Tower site had been completed by Saudi Bauer Company and it would be fully over by year end.

The skyscraper is being developed by Saudi Bin Laden Company in Jeddah at a cost of around SR4.6 billion ($1.2 billion).

Speaking at the board meeting, Prince Alwaleed said: “This contract further confirms that the Jeddah project continues on its strategic path.”

The meeting was attended by Shadi Sanbar, CFO, Mohamed Fahmy, deputy CFO, KHC, Sadik Afzal from Abrar Holding Company, . Naiem Waziri of Saudi Bin Laden Group, Majid Al Toukhi, the director of Business Development & Operations, KRED, Bashar Kayyali, the consultant to KRED and Fahad Bin Saad Bin Nafel, the executive assistant to Prince Alwaleed.-TradeArabia News Service

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