Home / Press & Media / Investor News / Jeddah Economic Company (JEC) Awards a Project Management Contract Valued at SR 162 Million For World’s Highest Tower Prince Alwaleed: “This contract further confirms that the project continues on its strategic path”

Jeddah Economic Company (JEC) Awards a Project Management Contract Valued at SR 162 Million For World’s Highest Tower Prince Alwaleed: “This contract further confirms that the project continues on its strategic path”

November 5, 2013

Jeddah Economic Company (JEC) chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), appointed a British company EC Harris Mace to provide Project Management services for the Kingdom Tower project in Jeddah world’s tallest tower which will be more than 1000 meters high with value of SR 4.6 billion. The contract value is SR 162 million and includes the management of all aspects of the project’s delivery with specific emphasis on the management of program and cost. 

Prince Alwaleed said: “This contract further confirms that the Jeddah project continues on its strategic path.”

Eng. Talal Al Maiman added: “The selection of the working team has been completed to realize the vision of the investors and the city of Jeddah for this world-class standard national project. Also, I would like to add that 80% of Jeddah Kingdom Tower piling works has been completed by Saudi Bauer Company and will be fully completed at the end of this year.”

In June 2013, Prince Alwaleed visited JEC project site that will include the highest tower in the world. Prince Alwaleed’s visit came within the framework of supporting the planned work in progress, as His Highness observed the piling works being done by Saudi Bauer Company. Also His Highness was briefed the on construction plans and phases. Thereafter, His Highness commended the project team and urged everyone to continue the diligent work.  

Also in June 2013, Prince Alwaleed headed the 4th  board of directors meeting of Jeddah Economic Company in Riyadh with the board members; Mr. Abdulrahman Hassan Sharbatly, Mr. Saleh Bin Laden, Mr. Samaual Bakhsh and Eng. Talal Almaiman.

In the meeting, Eng. Talal Al Maiman, Executive Director Development and Domestic Investments, Chairman and CEO of Kingdom Real Estate Development Company (KRED), a board member of KHC and JEC updated the board about the final agreement with the Four Seasons relating to operating the luxury designed hotel in the world’s tallest tower.  

The board of JEC was briefed about the status of the project and presented them with the progress of the piling works being done by Saudi Bauer Company and Main contractor works Saudi Bin Laden Company. The board also reviewed Memoranda of Understanding relating to infrastructure and services for the project including electricity, water and district cooling.

Arch. Hassan Abdulrahman Sharbatly updated the board about the negotiation with the project management companies additional to the existing project engineers; Dar Alhandasah.

The board confirmed discussion regarding all the services and infrastructure required for the site & Kingdom City, Jeddah. The board has also expressed their satisfaction of how the project is progressing and the piling works taking place as the first stage of starting the tower works.

The meeting was also attended by  Mr. Shadi Sanbar, KHC board member and CFO, Mr. Mohamed Fahmy, Deputy CFO, KHC, Mr. Sadik Afzal from Abrar Holding Company, Mr. Naiem Waziri of Saudi Bin Laden Group, Mr. Majid Al Toukhi, Director of Business Development & Operations, KRED, Mr. Bashar Kayyali, Consultant to KRED and Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the Chairman.