By Sharon Miller www.self-catering-breaks.com
The design and build team that was behind the world’s tallest building, the Dubai Burj Khalifa, is now aiming to secure new contracts to build an 1,100 high superscraper in Saudi Arabi.
The Kingdom Tower would most likely succeed the Burj Khalifa in becoming the world’s tallest tower and would form the centerpiece of Kingdom City, which is one of the largest and most ambitious projects in the country.
The rising price of crude, as well as a fast growing population, is buoying confidence in the Kingdom’s property sector. According to reports, Emaar Properties would take on a consultancy role in the Kingdom City project. It would be working with Skidmore, Owings and Merrill, the United States architecture firm that designed the world’s tallest tower.
If the United States firm wins the contract, it will again work closely with Emaar Properties. The development is being planned by Kingdom Holding, the business conglomerate owned by Prince Alwaleed bin Talal bin Abdulaziz Al Saud.
Mohamed Alabbar, the chairman of Emaar, said that work was continuing on the Kingdom City development, which is expected to provide homes for about 80,000 people. He went on to say that the landscape has changed in the region. Customers now want real, true solid companies. They want value for their money as well. People now want track records. This is a region where shortage of housing is an issue.
Kingdom City development, which is said to cost about $26.6 billion to build, has been planned for several years, but progress has been hampered by the global downturn. However, this does not mean that building has stopped.