SR4.6 billion deal for world’s tallest tower in Jeddah

An artist's presentation of the proposed Kingdom Tower.

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RIYADH: Kingdom Holding Co. (KHC) chairman Prince Alwaleed bin Talal confirmed in Riyadh on Tuesday that associate firm Jeddah Economic Co. has signed a SR4.6 billion deal with the Saudi Binladen Group to build the world’s tallest tower in Jeddah.

The iconic tower, dubbed as the “Kingdom Tower,” will be over 1,000 meters high, and the construction of this landmark structure overlooking the Red Sea and Obhur Creek will finish within five years and three months.
Addressing a press conference at the KHC headquarters here, Prince Alwaleed said “the project symbolizes the growing business confidence in Saudi Arabia under the wise leadership of Custodian of the Two Holy Mosques King Abdullah.”
The long-term policies of King Abdullah and his government have encouraged the business community to execute these kinds of multibillion riyal projects, said the prince, while allaying fears of any impact on the Saudi economy from regional turmoil.
Prince Alwaleed said the building’s iconic status would not depend solely on its height.
He said the tower would be the centerpiece and first construction phase of Kingdom City, Jeddah Economic Company’s (JEC) new urban development of more than 5.3 million square meters in the north of Jeddah overlooking the Red Sea and Obhur Creek.
He said the project would provide sustainable profits to Kingdom Holding shareholders.
With a total construction area of over 500,000 square meters, the Kingdom Tower will be a mixed-use building featuring a Four Seasons Hotel, Four Seasons serviced apartments, world-class office space, luxury condominiums and an observatory that will be higher than the world’s current highest observation deck.
Referring to the landmark project, Talal Al-Maiman, a board member of KHC and JEC, which was formed in 2009 to develop Kingdom City, said “the vision of constructing the tallest tower in the world in Jeddah belongs to Prince Alwaleed. Its form is brilliantly sculpted, making it quite simply the most beautiful building in the world of any height.”
Al-Maiman said: “The decision of the partners to build the world’s tallest building further demonstrates their belief in investing in this nation.”
He pointed out that five contractors were invited to offer proposals for the Kingdom Tower and a shortlist of three firms submitted final offers for the tower construction.
The Saudi Binladen Group, whose offer was the most attractive in terms of price, quality and schedule was chosen for the project.
The Kingdom Tower in Jeddah is part of the Kingdom City project.
The overall construction cost of the tower is SR4.6 billion and the overall estimated cost of the entire project is anticipated to be SR75 billion.
“We intend Kingdom Tower to become both an economic engine and a proud symbol of the Kingdom’s economic and cultural stature in the world community,” said Al-Maiman.
He said partners of JEC include KHC, Samaual Bakhsh, Abraar, International Holding Company, prominent Jeddah businessmen Abdulrahman Hassan Sharbatly and Binladen Group (SBG).
The capital of JEC is made up of SR8.8 billion in land value, assets worth SR7.3 billion, plus SR1.5 billion in cash contributed by SBG.
The overall Kingdom City master plan is being designed by HOK Architects.
The Kingdom Tower design is both highly technological and distinctly organic.
The Kingdom Tower complex will contain 59 elevators, including 54 single-deck and five double-deck elevators, along with 12 escalators.
Elevators serving the observatory will travel at a rate of 10 meters per second in both directions.
The area in the immediate vicinity of Kingdom Tower is named as the Kingdom Tower Waterfront District.
Designed by AS+GG, the 23-hectare Waterfront District will provide a cohesive and pedestrian-friendly setting for the Kingdom Tower, while creating a pleasant neighborhood experience along the Kingdom City lakefront.
The Kingdom Tower Waterfront District will encompass a high-end shopping mall and additional development parcels that accommodate commercial and high-density residential uses, offices, two luxury hotels and high-quality open spaces, including the central Tower Plaza.

Lamborghini is expanding “its empire” in China

China looks set to claim another crown in the battle for supremacy in the luxury markets of the world as the country’s interest in supercars continues to grow.

China knocked the United States off its perch as the world’s leading car market two years ago – sales there now surpass 18.26 million units per year.

It seems that tastes in the country are turning now to the very high-end of the auto market, an area long dominated by the Americans.

Italian carmaker Lamborghini says it sold 138 cars in mainland China over the first six months of this year – a 60 percent rise from the same period last year – and the company believes it will move more than 300 cars “at the least” by the end of 2011.

The rise in sales comes after Lamborghini moved 206 cars in China last year, a 150 percent rise from 2009.

Last year in the US, Lamborghini sold 290 cars (out of 1,302 units worldwide) and with the Italian carmakers – now part of Volkswagen’s luxury Audi unit – expecting sales in China to surpass 500 per year in the near future, there’s little doubt where the center of the supercar world is now heading.

Lamborghini currently has nine dealerships/showrooms in China but plans to have 20 open and operating by the end of the year.

The carmaker is now waiting for the roll-out of its new 12-cylinder, 700-horsepower Aventador model – priced on the mainland at 6.28 million yuan (678,000 euros) – and already there are 200 pre-orders in from China, according to the company.

According to research carried out by the company, mainland Chinese owners of Lamborghinis are on average the youngest in the world at 35.

“They are self-made men. They are very young but in China most of the money is young,” a spokesperson from the carmaker told the SMP recently.

A procession of the world’s leading luxury carmakers are expanding throughout the Chinese market. According to motor industry watchers IHS Automotive, luxury car sales in China should top 909,900 units this year – up from 727,200 units last year.

The world’s largest luxury carmaker – BMW AG – says it has moved 121, 614 cars in China this year (up 60.8 percent), while Mercedes-Benz says it has sold just over 95,030 cars there this year, already up 59 percent from 2010.

Kucing miliki tompok seperti misai Hitler

ANAK kucing yang memiliki tompok hitam di bawah hidung yang kelihatan seperti misai Adolf Hitler.

GODMANCHESTER, Britain - Seekor anak kucing diberi nama jolokan Kitler kerana haiwan itu mempunyai tompok hitam di bawah hidung yang menyebabkan ia kelihatan mirip misai bekas pemimpin Nazi dari Jerman, Adolf Hitler.

Anak kucing itu ditinggalkan di tepi sebatang jalan raya dan kini dijaga oleh sebuah pusat perlindungan haiwan di sini.

Ratusan pengunjung yang melawat pusat perlindungan haiwan itu enggan mengambil anak kucing tersebut untuk dipelihara kerana tompokan seperti misai tersebut.

Hitler memang terkenal kerana kekejamannya mengetuai pembunuhan kaum Yahudi semasa Perang Dunia Kedua. - Agensi

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