Kingdom Holding Company (KHC) on Wednesday announced signing an SAR 620 million contract on the behalf of the Jeddah Economic Company (JEC) to begin infrastructure operations for the Jeddah Tower.
Al-Fouzan Trading & General Construction Company will carry out the project within a 12-month period.
JEC is the real estate developer behind the Jeddah Tower and Jeddah Economic City project.
“This contract is one of the largest private infrastructure contracts in the Kingdom of Saudi Arabia and the signing of the infrastructure contract will open the doors to investment opportunities for all,” KHC’s CEO Talal Almaiman said.
The Jeddah Tower is set to overtake Dubai’s Burj Khalifa as the world’s tallest tower.