Is the completion of the world’s tallest building going to be a significant event of 2018? It doesn’t seem so; Jeddah Tower, the world’s likely to be the tallest building, is facing many blockers.
Previously known as Kingdom Tower, Jeddah Tower would feature 167 inhabitable floors reportedly. Whether the tower would be just another skyscraper or offer some substantial economic gain is the matter of future. At present, it merely appears to be in the race for being the world’s tallest building that aims to surpass the Burj Khalifa.
Let’s have a look at what the world’s tallest future building is going to be.
Height of Jeddah Tower
The future tallest buildings are trying to cross the 1km height mark. Same, is the case with Jeddah tower which would stand 1km above the ground. The estimated, height of Jeddah Tower is going to be 3300 feet. Burj Khalifa, the current tallest building in the world, stands 2,717 ft. taller. The building would have 252 floors, of which 167 would be inhabitable, while rest of 85 would go unoccupied.
According to reports, 22% of the work on the building that includes 37 floors is already complete.
Delays in Construction of Jeddah Tower
It is not sure whether Jeddah Tower would be completed in actual time or not. There are many blockers on the way. Earlier, the fall in prices in 2014 put questions before the availability of funds. Binladin group which is the contractor of the project is facing lack of funding due to crane incident and fall in oil prices.
Further, the ongoing political situation and a so-called crackdown on corruption might be another reason. Jeddah Tower is the master plan of Prince Waleed Bin Talal who is the owner of Kingdom Holding. The company also owns the one-third of JEC (Jeddah Economic Company), which is developing the tower. He is facing detention in Ritz Carlton Hotel, Riyadh on account of corruption charges. Saudi Crown Prince Muhammad Bin Salman, who is likely to be the next king of KSA, is launching an overhaul on assumingly corrupt politicians and businessmen in the country.
Race for the tallest Skyscrapers
It seems that U.A.E doesn’t have plans to own the second tallest building in the world. The country is working on plans to build the Dubai Creek Tower, which is likely to feature 650 million sq. of residential space along with 851,000 sq m of commercial property. China is also expected to enter the 1km building’s club by launching the Phoenix Tower. So, Jeddah Tower, if completed would come to rescue the KSA (Kingdom of Saudi Arabia)’s economy at the right time. Further, it may also make other developing countries to follow suit.