The investment firm headed by Saudi billionaire Prince Alwaleed bin Talal said Tuesday it signed a 4.6 billion riyal ($1.2 billion) deal with the Saudi Binladen Group to build the world's tallest tower.
Kingdom Holding Co. said the more than 3,280 foot (1,000 meter) high Kingdom Tower, to be built north of the Red Sea city of Jiddah, is part of the first phase of the planned Kingdom City. The sprawling mega project, announced in 2008, is slated to cover a two-square mile area.
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