Princes discuss progress of Jeddah Tower

JEDDAH — Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company (KHC) and chairman of the Board of Jeddah Economic Company (JEC), met with Makkah Emir Prince Khaled Al-Faisal, in Jeddah recently.

The two princes discussed the Jeddah project that includes the world's tallest tower. The JEC team gave a presentation highlighting the Jeddah Tower and the project's progress.

Prince Khaled expressed his support for the project and stated the importance of the private sector in the development of the local economy.

Jeddah Governor Prince Mishal Bin Majed and Prince Abdullah Bin Bandar, deputy emir of Makkah province, were present at the meeting, in addition to JEC board members Abdulrahman Hassan Sharbatly and Saleh Bin Laden, and Talal Almaiman, CEO of KHC. Several other JEC and KEC officials also attended.

Earlier this month, Prince Alwaleed visited the project site. JEC is the exclusive owner and developer of the units of Al Inma Jeddah Economic City Real Estate Fund set up for the development of the Jeddah project and tower. The fund is managed by Al-Inma Investment Company.

Prince Alwaleed's visit came within the framework of the scheduled board meeting and in support of the project. The prince inspected the progress of the construction work for the world's tallest tower, which has reached the 54th floor.

Prince Alwaleed later chaired the Board of Directors meeting of Jeddah Economic Company on the site of the project. He also presided the Board of Directors meeting of Al-Inma Jeddah Economic City Real Estate Fund, which was attended by Abdul Muhsen AlFaris, Dr. Mohamed AlSehiban, Fouad AlRashid, Bandar AlTurki, in addition to Jeddah Economic Company board members.

Following the meeting the prince held a press conference on the 28th floor of the Tower.

Prince Alwaleed: "The goals of the project are in total congruence with the Kingdom's Vision 2030 in all its aspects, socio-economical and environmental. We are supporting a healthy growth of the local economy by providing the right mixture of business and services in a new city center.”

Almaiman added: "We have calculated more than 30,000 possible job opportunities that Phase 1 of the project will offer, serving all the residential, commercial, cultural, administrative and recreational activities taking place in the city. In a few months, these land lots will be ready for developers, complete with services and supporting amenities.”

Mounib Hammoud, CEO of JEC, said: "This project has been originally designed to be fully integrated and a smart modern multiuse city center using the latest technologies and ideas that makes this city a truly 'walkable place'. We are offering communities a rich experience of urban living." — SG