Kingdom Tower financing complete
Shanghai, September 23, 2012
Financing for the Kingdom Tower, the kilometre-tall building coming up in Jeddah, is complete, a senior official of the Kingdom Real Estate Development Co was quoted as saying.
“We have all the investors, all the finance, all the money we need,” Talal Al Maiman, chief executive officer and managing director of Al Maiman Kingdom Real Estate Development Co said in a Bloomberg interview.
The tower, expected to be completed in 2018, will cost $1.2 billion to build.
Kingdom Real Estate is an arm of Kingdom Holding Co., Saudi Prince Al Waleed Bin Talal’s investment company.
More Construction & Real Estate Stories
- Schneider Electric unveils new solar products
- Big demand for housing projects at KAEC
- Bahrain real estate prices slump
- Staff shortage hits Bahrain projects
- DWC to build new agent warehouses
- Arabtec appoints new HR officer
- Sodic appoints new financial officer
- Avant in distribution deal with Danube, Al Taif
- Egypt says disputes with Damac are resolved
- Abu Dhabi TDIC picks up Yardi voyager