Latest news with #KingdomHoldingCompany
Time Out Dubai
30-07-2025
- Business
- Time Out Dubai
Jeddah Tower to be taller than Dubai's Burj Khalifa once completed
This article was first published in January 2025 Construction on a massive one-kilometre-tall tower to rival Dubai's Burj Khalifa has officially resumed. The Jeddah Tower, currently officially called the Jeddah Economic Company Tower, in Saudi Arabia, is set to be taller than the Burj Khalifa once complete. The iconic symbol of Dubai stands at 828 metres, while the Saudi Arabian project is slated to be a minimum of 1,000 metres. Jeddah's plans for a massive world-record-breaking tower have been in the pipeline for more than a decade but building has been stop-start. Saudi billionaire Prince Alwaleed bin Talal announced the resumption of work with a post on social media last year, saying 'we're back' along with an artist's rendering of the completed tower. And on Monday January 20, the Kingdom Holding Company officially revealed that work was finally back up and running on the building. Concrete pouring has begun on the 1km tall tower which will feature luxury residential units, commercial spaces, a Four Seasons hotel and an observation deck offering views of Jeddah and the Red Sea. تم رسمياً استئناف أعمال بناء برج جدة وصب الخرسانة في الرمز العالمي للطموح والتقدم، بحضور صاحب السمو الملكي الأمير الوليد بن طلال رئيس مجلس إدارة شركة المملكة القابضة، المهندس/ طلال بن إبراهيم الميمان الرئيس التنفيذي لشركة المملكة القابضة، الشيخ يسلم بن لادن 'مجموعة بن لادن'،… — شركة المملكة القابضة (@Kingdom_KHC) January 20, 2025 The Jeddah Tower is set to be even taller than Burj Khalifa when complete (Credit: Jeddah Economic Company Tower) Currently, 63 storeys of the planned 157-storey tower have been built so far with Dhs1 billion of the construction works already paid for. It is anticipated Jeddah Tower will be over 1,000 metres – or more than one kilometre in height. The main structure of the tower is expected to exceed 1.5 kilometres. Jeddah Economic Company will fund the remaining Dhs6 billion through internal funding and banking facilities. A statement by the company said: 'The tower will be part of the first phase of 1.3 million square meters of the total area of Jeddah Economic Company City, which is approximately 5.3 million square meters. 'The infrastructure development for the entire first phase, spanning 1.3 million square meters, has been executed, containing essential amenities such as electricity, water, sewage, flood drainage, and high-speed internet connectivity.' Construction is expected to take around 42 months with a completion date in the first half of 2028 so the Burj Khalifa has a while longer to enjoy being the top dog. The Saudi project has been designed by Adrian Smith, the same American architect behind Burj Khalifa. Looking for things to do in Dubai? 112 best things to do in Dubai in 2025 Everything to tick off your Dubai bucket list 50 free things to do in Dubai Feeling the pinch? Enter free things to do Here's how to eat at expensive Dubai restaurants for less Early bird dinners, lunch specials and more
Mid East Info
05-05-2025
- Business
- Mid East Info
MEED shares progress-focused agenda for Saudi Giga Projects Summit 2025 - Middle East Business News and Information
More than 70 speakers to convene across the 3-day event Riyadh, May– MEED has unveiled the agenda for Saudi Giga Projects 2025, which will provide updates from Saudi Arabia's biggest projects, development progress across the Kingdom and a look to future projects. Set to take place from May 12 to May 14, 2025, the landmark event will bring together industry leaders, stakeholders, and visionaries to discuss and showcase the transformative giga projects that are shaping the future of Saudi Arabia under the Vision 2030 initiative. The agenda features speakers from the Kingdom's most notable giga projects, including updates from Oussama Kabbani, Group Chief Development Officer at ROSHN; Matthew Boot, Chief Projects Officer at Diriyah Company; Ben Edwards, Group Head of Cost, Commercial and Procurement at Red Sea Global; Fabien Toscano, CEO at AlUla Development Company; Philip Gullett, Executive Director at Trojena; Talal Almaiman, CEO at Kingdom Holding Company, Dale Chadwick, Chief Development Officer at King Salman Park Foundation and Muhammed Alqahtani, Executive Vice President – Delivery at Sports Boulevard Foundation. Day One will focus on how Saudi's giga projects are delivering Vision 2030, with the day's agenda including Unlocking Opportunities – Building the Saudi Vision 2030!', 'Saudi Arabia's Giga Projects – Shaping and Transforming the Kingdom's Future' and 'Joining the Dots – How Stakeholders Can Collaborate to Achieve the Saudi Vision 2030!'. The agenda also includes fireside chats and presentations featuring updates from ROSHN Group, Soudah Peaks, and Kingdom Holding Company. The second day will feature notable project updates from Alula Development Company, Sports Boulevard Foundation and Red Sea Global, and a panel discussion looking at 'Innovative Urban Design for Smart Infrastructure and Integrated Green Communities: Shaping Sustainable Cities'. Other panel discussions will look at the role of the private sector and PPPs, innovations in modular & MEP, and attracting talent for the future beyond 2030. The final day will begin with reflections from Day Two and opening remarks by the Chairman. Notable sessions to follow include: 'Mega Project Showcase and Construction Updates: The Stadium Construction Programme', 'Delivering Priority Event-Driven Projects – FIFA 2034 World Cup, 2029 Asian Winter Games, Riyadh 2030 Expo, AFC 2027' and water project updates from Saudi Water Partnership Company (SWPC), and Oxagon & DataVolt to update on the future of data centre project build in Saudi Arabia. About MEED: MEED is a business intelligence company that encompasses a subscription website and magazine, regular C-level executive conferences and summits hosted by MEED Events, awards programmes, and two high-value content businesses: MEED Projects and MEED Insight. MEED is the world's leading source of Middle East business intelligence. Established in 1957, it has been integral to delivering business information and news, intelligence and analysis on the Middle East economies and activities ever since. Attracting a key senior management audience through its content and activities, MEED is a media brand and publication that unlocks business opportunities in one of the world's fastest-growing business regions.
Gulf Today
29-04-2025
- Business
- Gulf Today
US tariffs may trigger a 'global depression'
Staff Reporter, Gulf Today Prince Alwaleed Bin Talal Al Saud, Chairman of Kingdom Holding Company, has revealed to Forbes Middle East his perspectives on trade wars, AI dominance, and the evolving definition of leadership in an increasingly complex world. The Prince, who shares a personal acquaintance with the US President Donald Trump, spoke candidly: 'These tariffs are tantamount to paralysis. A 145% tariff on China? That's not negotiation—that's a freeze in trade.' While acknowledging Trump's political instincts, he issued a stark warning about the risks of economic brinkmanship: 'This could've triggered not just a recession, but a worldwide depression.' Prince Alwaleed shared why he continues to back Elon Musk, even amid recent criticism of Tesla. 'When Musk took over Twitter, I didn't cash out—I doubled down,' he said. 'We're betting on the right horse. That horse is Musk.' He confirmed a recent two-hour investor call with Musk discussing a potential merger between X and xAI: 'He is managing business and politics—and doing both. I was on the call. It's happening.' On artificial intelligence, Prince Alwaleed stressed its sweeping impact across sectors: 'AI will impact every industry. If you don't adapt, you'll be left behind.' He also recalled a conversation with Bill Gates about the disruption of both white- and blue-collar jobs: 'New opportunities must be created. This is only the first inning of the revolution.' Turning to Saudi Arabia's current transformation, Prince Alwaleed described it as both historic and personal: 'This is a revolution—and we are back to normal,' he said, referring to the Kingdom's sweeping social reforms. He praised Vision 2030, identifying tourism and mineral wealth as the Kingdom's new economic engines. 'We have everything here—the beaches, the valleys, the archaeology. And it's working. We're already welcoming tens of millions of tourists... without alcohol.' Looking ahead, he expressed confidence in the country's shift toward economic diversification: 'We are creating new income streams, and I believe that within five years, Saudi Arabia's budget will be powered by non-oil revenues.' He also revealed that he has already donated $5 billion through Alwaleed Philanthropies, underscoring his long-standing commitment to giving. 'I began charity on the same day I began business—January 1st, 1980,' he said. As Saudi Arabia's youth rises to the forefront of transformation, Prince Alwaleed offers clear advice: 'Our society is young—and incredibly empowered. With AI and the internet, they know everything. Stay attentive and move with speed.'
Zawya
17-03-2025
- Business
- Zawya
Kingdom Holding's profits jump 22% in 2024; dividends proposed
Riyadh – Kingdom Holding Company registered SAR 1.23 billion in net profit during 2024, higher by 22.08% year-on-year (YoY) than SAR 1.01 billion. Meanwhile, the revenues shrank by 11.57% to SAR 2.39 billion at the end of December 2024 from SAR 2.70 billion in 2023, according to the financial results. Earnings per share (EPS) increased to SAR 0.33 last year from SAR 0.27 in 2023. Cash Dividends The group's board members recommended cash dividends of SAR 1.03 billion, representing 2.80% of the capital, for 2024. Kingdom Holding will disburse a dividend of SAR 0.28 per share for 3.70 billion eligible shares. In the nine-month period that ended on 30 September 2024, the Tadawul-listed company posted 36.35% YoY higher net profits at SAR 1.16 billion compared to SAR 856.17 million. Source: Mubasher
CairoScene
17-02-2025
- Business
- CairoScene
Jeddah Tower: Work Resumes on the World's Tallest Skyscraper
Set for completion in 2028, Jeddah Tower will surpass Dubai's Burj Khalifa, the current tallest building, by 173 metres. Feb 17, 2025 Construction on the Jeddah Tower - set to become the world's tallest skyscraper - is back in motion. Designed by Chicago-based studio Adrian Smith + Gordon Gill Architecture, the skyscraper was originally slated for completion in 2020, but construction stalled due to prolonged delays. Now, with work officially resuming, developer Kingdom Holding Company has announced a new completion target for 2028. Planned to ascend to at least 1,001 metres, Jeddah Tower will surpass Dubai's Burj Khalifa by at least 173 metres, claiming the title of the world's tallest building. Formerly known as Kingdom Tower, this mixed-use skyscraper will house a Four Seasons hotel, office spaces, serviced apartments, luxury condominiums, and the world's highest observatory, redefining Jeddah's skyline with its pointed allure. Draped in glass, the structure glides from a triangular footprint with a sleek, sloping façade, gradually tapering to a sharp peak. Subtle recesses carved through its surface lend it an asymmetrical allure that shifts with the light, creating a dynamic illusion, as if the tower itself is unfurling beneath the sun. Photography Credit: Adrian Smith + Gordon Gill Architecture
