El Seif consortium emerges frontrunner for Jeddah Tower contract
JEDDAH, April 29, 2024
A consortium of Saudi contractor El Seif Engineering and Beijing-based China State Construction Engineering Corp has emerged as the frontrunner for the contract to build the world’s tallest tower, the 1,000-m-plus Jeddah Tower in Saudi Arabia, reported Meed citing sources.
An ambitious project for the Kingdom Holding Company, the Jeddah Tower, once completed, will be taller than Dubai’s Burj Khalifa by more than 172m.
It is the centrepiece of the Jeddah Economic City development. The project’s first phase, which includes the main tower, covers an area of 1.5 million sq m, it stated.
Besides the El Seif consortium, bidders for the project include Lebanon’s Consolidated Contractors Company (CCC); and Kuwait’s Mohammed Abdulmohsin Al Kharafi & Sons with support from international partners.
Kingdom Holding Company CEO Talal Ibrahim Almaiman confirmed to Meed that bids have been submitted and a contract award is expected imminently.
El Seif, one of Saudi Arabia’s most active contracting companies, was the contractor for the Kingdom Centre in Riyadh. Last year, the Public Investment Fund (PIF) had acquired a 25% stake in the firm to support its growth, stated the report.
The Riyadh-based contractor has a working relationship with China State, with the two companies delivering projects in the kingdom, including the Diriyah development in Riyadh, it added.
