Prince AlwaleedPrince Alwaleed: 'Kingdom HoldingKingdom Holding has many grand investments in real estate in Saudi Arabia and this is one of them'

King Abdullah, Custodian of the Two Holy Mosques unveiled and inaugurated the two colossal projects of Kingdom City in Jeddah and Kingdom Tower in Jeddah in the presence of HRH Crown Prince Sultan Bin Abdulaziz, HRH Prince Khaled Alfaisal Governor of Makkah Province, HRH Prince Alwaleed bin TalalHRH Prince Alwaleed bin Talal Chairman of Kingdom Holding Company (KHC)Kingdom Holding Company (KHC) and Eng. Adel Muhammad Faqih, Mayor of Jeddah and other members of the royal family.

The unveiling of the designs and plans of the tower that will adorn the city of Jeddah and will be over 1,000 meters high, was held at the opening of a major international architectural exhibition "Towards the First World" in Jeddah, Saudi Arabia on Saturday 11th October 2008. KHCKHC was the main sponsor of this historical event. KHCKHC's two projects: Kingdom City and Kingdom Tower were the highlight of the exhibition with a major presentation. It was the first time the design for Kingdom City and the iconic Kingdom Tower were revealed publicly. During the event, King Abdullah and Prince AlwaleedPrince Alwaleed toured KHCKHC's exhibition of the master plan and designs of the project with a total investment of more than SR100 billion.

HRH Prince AlwaleedHRH Prince Alwaleed commented: "KHCKHC has many grand investments in real estate in Saudi Arabia and this is one of them. We are extremely delighted at the unveiling of the designs and plans of KHCKHC's iconic Kingdom City and Kingdom Tower projects in the city of Jeddah by the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz which will signify KHCKHC's contribution in placing Saudi Arabia at the forefront of the first world and reaffirming KHCKHC as one of the world leading real estate developers." King Abdullah has previously inaugurated the Kingdom Tower in Riyadh during which Prince AlwaleedPrince Alwaleed presented the King with the awards that Kingdom Centre had received: the Best New Skyscraper of the Year 2003 for Kingdom Tower and The Innovative Design & Construction of a New Project 2003 for Al Mamalaka Mall.

Engineer Talal Al Maiman, Executive Director for Development and Domestic Investments and a member of KHCKHC's Investment Committee commented: "Through the continuous guidance of HRH Prince AlwaleedHRH Prince Alwaleed, KHCKHC uses its resources to their utmost potential to lead to outstanding achievements and to make future visions a reality through leading and challenging projects. I have all the confidence that the return on investments of these projects will be very rewarding, God willing as KHCKHC's projects have been in Riyadh. "

Organized by the City of Jeddah, the exhibition features sixteen projects currently planned for the Makkah and Jeddah regions. Kingdom Tower is part of the Kingdom City development which will be one of the largest and most comprehensive real estate projects to be built in Saudi Arabia located at Obhur, North of the creek of Jeddah and the mountains to the east. Prominently located on a prime site, the master plan, encompassing 7.1 square kilometers (1750 acres). Kingdom City in Jeddah is 20 km from the old city of Jeddah near King Abdulaziz International Airport. The area that comprises of buildings is 23 million square meters includes commercial, residential, institutional, educational, entertainment, retail and hotel facilities. The centerpiece of the development will be the landmark Kingdom Tower. Kingdom City is expected to house 80,000 residents and accommodate 250,000 visitors who will enjoy its facilities; lakes, canals, water sports and other leisure activities.

Tower's timeless beauty derives from its simplicity and purity of form. The tower will rise from a large retail and conference centre podium to 1,000+ meters in height -the tallest building in the world - and include five-star hotel accommodations, office space and luxury residences that encompass dramatic, sweeping views of the Red Sea, Obhur Creek and the mountains to the east. Essentially triangular in plan, Kingdom Tower is conceived as a graceful, sculptural form that reflects not only the unique character of Jeddah but also the sky, water, and land from its taut glass skin.

- Ends -

Fore more information, please contact:
Kingdom HoldingKingdom Holding Company
Tel: +966 1 211-1111 Ex 1155
Fax: +966 1 211-1112

© Press Release 2008

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Community Comments (3) - Comment on this article

The opinions of the authors expressed herein do not necessarily state or reflect Zawya. Read our Comment Policy.

 

More efficient and necessary investments needed . by Issa Odeh, CEO, Philistia Industrial Group - 18-Oct-08
Investment in giant and costly building projects are the major investment fields in the Gulf Countries . Unfortunately when the Petroleum production will come to an end much before the end of this century , those projects will prove sensless because the Gulf Countries will not have the resources to run and maintain these projects .
More important now , for the Gulf Countries , is to invest in industrial development , especially in power saving projects and power from clean energy sources .
We offer to cooperate on such very relevant projects with purely new Arab technology and which will turn the Arab Countries into industrial exporters . We are talking about a market valid in trillions of US$ .
We would like to cooperate with investors from the Gulf Countries in order to put such projects into reality .
Those interested are welcome to visit our website :
philistia-industrial-group.com
my direct e-mail is iao@philistia-industrial-group.com [Report Abuse | Email to a Friend | Reply to this Comment]

 

 

Re: Great investment project at worldwide by Roba Al Futtaim - 15-Oct-08
Hahahah! Great sales pitch for a job! Good Luck! [Report Abuse | Email to a Friend | Reply to this Comment]

 

 

Great investment project at worldwide by peter sun, project manager,technical manager - 15-Oct-08
Dear SIR
The Kingdom city and Kingdom tower project is the great investment project at worldwide,I am so happy Prince take action at this moment. [Report Abuse | Email to a Friend | Reply to this Comment]

 

 

 

 

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