The Clap
MEED magazine revealed that the Public Investment Fund (PIF) is studying the potential construction of a huge tower north of Riyadh.
What
The proposed tower would be part of a major plan and will be built on an area of 18 square kilometers west of King Khalid International Airport.
It will be more than double the height of the 828m-tall Burj Khalifa in Dubai, the tallest building in the world.
So What
Contractors estimate the cost of constructing the tower to reach around $5 billion.
A competition with an entry fee of $1 million to design the tower is now underway, as per people familiar with the matter.
Now What
Around eight companies were invited to participate in the competition, including leading names in the field of architecture globally chosen based on their experience working on other mega towers and iconic designs around the world.
