Alwaleed tours world’s tallest tower site in Jeddah

25/06/2013 08:57 AST

Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), visited the Jeddah Economic Company (JEC) project site, which includes the highest tower in the world.

Prince Alwaleed’s visit came within the framework of supporting the planned work in progress, as he observed the piling works being done by Saudi Bauer Company (SBC). The prince was also briefed on construction plans and phases. The prince commended the project team and urged everyone to continue the diligent work.

Recently, Prince Alwaleed, headed the 4th board of directors meeting of JEC in Riyadh with board members Abdulrahman Hassan Sharbatly, Saleh Bin Laden, Samaual Bakhsh and Talal Almaiman.

In the meeting, Almaiman, executive director development and domestic investments, chairman and CEO of Kingdom Real Estate Development Company (KRED), and board member of KHC and JEC, updated the board about the final agreement with the Four Seasons relating to operating the luxury designed hotel in the world’s tallest tower, which will be more than 1,000 meters high valued SR 4.6 billion.

Waleed Batterjee, CEO, JEC, briefed the board about the status of the project and presented it with the progress of the piling works being done by SBC. The board also reviewed memorandums of understanding relating to infrastructure and services for the project, including electricity, water and district cooling.

Architect Hassan Abdulrahman Sharbatly updated the board about the negotiation with the project management companies additional to the existing project engineers Dar Alhandasah. The board confirmed discussion regarding all the services and infrastructure required for the site and Kingdom City Jeddah. The board also expressed its satisfaction of how the project is progressing and the piling works taking place as the first stage of starting the tower works.

The meeting was also attended by Shadi Sanbar, KHC board member and CFO; Mohamed Fahmy, deputy CFO, KHC; Sadik Afzal from Abrar Holding Company; Naiem Waziri of Saudi Bin Laden Group; Majid Al-Toukhi, director of business development and operations, KRED; Bashar Kayyali, consultant to KRED; and Fahad bin Saad bin Nafel, executive assistant to the chairman.

Arab News