01 May 2014
Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), headed the fifth board of directors meeting of Jeddah Economic Company (JEC) in Riyadh with the board members.
The board members are Abdulrahman Hassan Sharbatly, Saleh Bin Laden, Samaual Bakhsh, Talal Almaiman, executive director development and domestic investments, chairman and CEO of Kingdom Real Estate Development Company (KRED), a board member of Kingdom Holding Company and Jeddah Economic Company (JEC) and Hassan Sharbatly.
The meeting was also attended by Mohamed Fahmy, Kingdom Holding Company's CFO and Fahad bin Saad bin Nafel, executive assistant to the chairman.
During the meeting, Talal Al-Maiman updated the board about the latest developments relating to agreements of operating the tallest tower which will be more than 1,000 meters high with value of SR4.6 billion.
Mounib Hammoud, CEO, Jeddah Economic Company (JEC), briefed the board about the status of the project and presented them with the progress of infrastructure and services for the project including electricity, water and district cooling.
The board has expressed their satisfaction with how the project is progressing and the completion of piling works.
In December 2013, Hammoud announced the completion of the piling works for the tallest tower in the world (Kingdom Tower).
This achievement is considered to be the base of works over ground.
In November 2013, JEC appointed a British company EC Harris Mace to provide Project Management services for the Kingdom Tower project in Jeddah.
The contract value is SR162 million and includes the management of all aspects of the project's delivery with specific emphasis on the management of the program and cost.
Prince Alwaleed said: "This contract further confirms that the Jeddah project continues on its strategic path."
Talal Al-Maiman added: "The selection of the working team has been completed to realize the vision of the investors and the city of Jeddah for this world-class standard national project. Also, I would like to reiterate that Jeddah Kingdom Tower piling works has been completed by Saudi Bauer Company."
Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), headed the fifth board of directors meeting of Jeddah Economic Company (JEC) in Riyadh with the board members.
The board members are Abdulrahman Hassan Sharbatly, Saleh Bin Laden, Samaual Bakhsh, Talal Almaiman, executive director development and domestic investments, chairman and CEO of Kingdom Real Estate Development Company (KRED), a board member of Kingdom Holding Company and Jeddah Economic Company (JEC) and Hassan Sharbatly.
The meeting was also attended by Mohamed Fahmy, Kingdom Holding Company's CFO and Fahad bin Saad bin Nafel, executive assistant to the chairman.
During the meeting, Talal Al-Maiman updated the board about the latest developments relating to agreements of operating the tallest tower which will be more than 1,000 meters high with value of SR4.6 billion.
Mounib Hammoud, CEO, Jeddah Economic Company (JEC), briefed the board about the status of the project and presented them with the progress of infrastructure and services for the project including electricity, water and district cooling.
The board has expressed their satisfaction with how the project is progressing and the completion of piling works.
In December 2013, Hammoud announced the completion of the piling works for the tallest tower in the world (Kingdom Tower).
This achievement is considered to be the base of works over ground.
In November 2013, JEC appointed a British company EC Harris Mace to provide Project Management services for the Kingdom Tower project in Jeddah.
The contract value is SR162 million and includes the management of all aspects of the project's delivery with specific emphasis on the management of the program and cost.
Prince Alwaleed said: "This contract further confirms that the Jeddah project continues on its strategic path."
Talal Al-Maiman added: "The selection of the working team has been completed to realize the vision of the investors and the city of Jeddah for this world-class standard national project. Also, I would like to reiterate that Jeddah Kingdom Tower piling works has been completed by Saudi Bauer Company."
© Arab News 2014
