One of Saudi Arabia’s richest tycoons Prince Alwaleed bin Talal has launched a comeback attempt, reviving a project to build the world’s tallest tower as developers in the kingdom embark on a flurry of glitzy real estate projects.
Work restarted this week on the Jeddah Tower, which at more than 1,000 metres is set to surpass the 828-metre Burj Khalifa in neighbouring Dubai as the world’s tallest building when completed in 2028.
It is the most high-profile deal involving billionaire Prince Alwaleed and his Kingdom Holding Co since he was detained in Riyadh’s Ritz-Carlton in an anti-corruption drive in 2017. The project started in 2013 but stalled following the crackdown.
“We’re back,” Prince Alwaleed posted on X this week alongside a video rendering of the project, touring the site in his trademark aviator-style sunglasses.
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