Construction Begins On Saudi Arabia’s $20 Billion, 1km High, New World’s Tallest Building

Are you afraid of heights? Then you probably wouldn’t want to purchase an apartment at Saudi Arabia’s Kingdom Tower, which are set to go on sale later this year. The tower is slated to become the world’s tallest building on it’s completion in 2018.

Located in Jeddah, the country’s second biggest city, the apartment tower has the backing of billionaire Prince Alwaleed bin Talal. The Prince’s investment firm Kingdom Holding owns about a third of the project’s master developer Jeddah Economic Company.

It’s set to stand over 1km high and at a cost of $1.2 billion, we don’t expect it to be cheap. The tower will have a gross floor area of 245,000 square metres and includes offices, a 200-room Four Seasons Hotel, 360 residential apartments and 121 serviced apartments. Currently, the construction has reached up to the 14th floor.

Applications are starting to be collected from potential buyers, citizens of the six Gulf wealthy countries – Saudi Arabia, Kuwait, Qatar, Oman, Barain and the United Arab Emirates – are all eligible to buy units in the tower but other wealthy investors must first gain government approval.

As you can see, the diagram makes the Eiffel Tour look like a toddler and is quite simply set to be the Daddy of all buildings. Check out the video below.

For an insight into more things billionaires spend their cash on, check out the Boeing-747 that a billionaire pimped out, transforming it into something from a movie. Would you take a trip up the world’s tallest tower? Let us know in a comment.