Prince Alwaleed plans mile-high tower

RetailME Bureau

Saudi billionaire Prince Alwaleed Bin Talal is eying the world’s largest cities, including Shanghai, Moscow, London and New York, as possible locations to build a mile-high tower that would be the world’s tallest building.

Alwaleed, the founder and CEO of Saudi Arabia-based Kingdom Holding Company, is inviting Dubai-based Emaar Properties, the developer behind the Burj Khalifa, to partner with his investment firm Kingdom Holding on the project.

Alwaleed is currently discussing and evaluating the possibility of building a one-mile (1.6km) tower and is on the look out for good partners. He is likely to invite Emaar and its chairman Mohammed Alabbar to collaborate on the project.

Alwaleed is also inviting the major world cities like Shanghai, Moscow, New York, London as well as Middle Eastern cities make their offers.

If Alwaleed’s dream materialises, the mile-high tower would overtake the world’s current tallest tower, the 828 metre Burj Khalifa in Dubai, as well as the one-km-high Kingdom Tower now being built by Kingdom Holding in the Saudi Arabian city of Jeddah. The Kingdom Tower is expected to cost about $1.2 billion and will form part of a hotel, retail and luxury residential project.