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Jeddah Tower secures funding for final stage of construction on 1 km-high tower

The Saudi developer delivering the world’s tallest tower has secured funding to complete the project.

Jeddah Economic Company and Saudi Arabia’s Alinma Investment have signed a deal to create a SAR8.4bn (£1.5bn) fund.

The fund will be used to finish construction work on Jeddah Tower, which is currently at its 26th floor.

An EC Harris/Mace joint venture is the project manager on the scheme.

Once complete, the 1 km-high super tower will total 5.7m sq ft and will include office, retail, leisure and hotel space.

The fund will also be used to develop the first phase of the Jeddah Economic City project, as well as a number of major real estate projects.

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