The company is owned by Saudi billionaire Prince Alwaleed bin Talal. The tower, if constructed, will overshadow the Burj Dubai, which recently acquired that honour when it surpassed Toronto’s CN Tower in height.
The world's tallest building will soon be constructed in Saudi Arabia. Kingdom Holding Company is expected to accept contract bids sometime this year. Saudi billionaire Prince Alwaleed bin Talal controls the company and has authorized construction in Saudi Arabia. Aptly named The Mile High Tower, this structure is expected to reach 1,600 meters and may cost up to $10 billion.
The Mile High tower upon completion will be twice as tall as the Burj Dubai which is currently expected to be the world's tallest building. According to the same report, the Red Sea port of Jeddah is the expected building site.
