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Why Jeddah tower May Never be Completed… (Corruption!?) 2021 Updated for 2024

Updated: March 29, 2024

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Why Jeddah tower May Never be Completed… (Corruption!?) 2021
Welcome to The Primest and today’s video is about Why Jeddah tower May Never be Completed.
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Here at The Primest we discuss Money, Luxury, Real estate, Millionaires and Celebrities.

In today’s video, we’re going to introduce Why Jeddah tower May Never be Completed

With cities like Makkah and Medina, Saudi Arabia is home to Islam and generates most of its revenue from oil. To further stabilize its economy and reduce its dependence on oil, the country has started projects like the Jeddah Economic City, part of Saudi Arabia’s 2030 vision where the state plan to raise Jeddah’s state in the world. It is an evaluated construction roughly three times the Manhattan size. The primary purpose in mind here is hosting commercial and residential products, including homes, hotels, and offices, for the masses. Along with other benefits, this project will be a gamechanger, and around 2 million new citizens will be able to dwell in it. As it is written on the wall that a massive project of this size isn’t going to be cheap and easy, and a considerable sum is needed to see it in its full glory, its cost estimates are around $23 billion.

Talking about the Jeddah tower, this building situated in the city of Jeddah was presented to the masses as the tallest building of the future and it is being funded by Prince Al Waleed bin Talal. The primary purpose in mind here is hosting commercial and residential products, including homes, hotels, and offices, for the masses. Along with other benefits, this project will be a gamechanger, and around 2 million new citizens will be able to dwell in it. As we know, a massive project of this size isn’t going to be cheap and easy, and a considerable sum is needed to see it in its full glory. The initial cost of this 1000-meter mega tail was around $1.2 billion. The structure, formerly known as the Kingdom Tower, will be a place to the world’s highest observatory currently surpassing Shanghai. It will also have a separate, 98-foot-diameter outdoor balcony, previously intended to be a helipad, but given the structure’s height, it was impossible to land one there. Its form is interesting for a tower of its size. The “three petals” system allows separate extrusions to push against one another, while the contour is inspired by folded fronds of young desert plant growth.

The building does join the ground in a nuanced and thoughtful way. Transportation routes crisscross around it, and the plinth melds it with its urban surroundings. Jeddah Tower will have 59 elevators and 12 escalators. Five of these elevators will be double-decker to take its admirers to the observatory in just 67 seconds. The lifts will not reach the speeds of standard elevators, as the air pressure change at those altitudes would cause nausea. Three sky lobbies will stop an elevator from having to go all the way to the top, eliminating the need for excessively huge cables. It has high-tech features. Stakeholders to complete both these towers have faced major setbacks. In the case of Jeddah tower, both key personnel Prince Al Waleed bin Talal and Bakar Bin Laden were arrested in 2017 courtesy of the Saudi Arabian purge.

Both of them were arrested for corruption charges but they got released after several months. Their release was subjected to an agreement in which the Saudi Kingdom would be able to control most of their assets. At the beginning of this project the construction process was rather steady but after corruption charges followed by labor issues in 2018 because the Bin Laden group failed to acquire funds to keep the construction process going. The Saudi government has the money and the resources to continue with this project and they certainly are going to do that but as urban development surges ever higher, it is only a question of time when the Jeddah Tower will lose the title as the tallest to the next structure. This time it will likely be the Tower at Dubai Creek Harbor. Being developed by Emaar, with the architect and engineer Santiago Calatrava Valls as the main consultant on the project.

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