The Jeddah Economic Company has initiated the process of soliciting bids from contractors for the project’s completion, with a deadline for bids set for the end of this year
The Jeddah Economic Company (JEC), the company responsible for the construction of the one-kilometre Jeddah Tower has resumed its efforts and has compiled a list of potential contractors to complete the project.
A source with knowledge of the project’s status informed MEED that the initiative is now “fully underway.”
The Jeddah Economic Company (JEC) is a consortium founded by Prince Alwaleed bin Talal, the grandson of Abdulaziz al-Saud, who was the inaugural king of Saudi Arabia.
Initially launched in 2014 under the name “Kingdom Tower,” this ambitious project gathered investors to construct a tower exceeding one kilometre in height. Construction came to a halt in January 2018, with the tower approximately one-third complete, due to labor-related issues stemming from the 2017–2019 political changes initiated by His Royal Highness Mohammed bin Salman Al Saud.
According to MEED, Kingdom Holding Company, led by Prince Alwaleed bin Talal, has confirmed that it is currently soliciting bids from contractors to complete the project by the end of this year.
Who are the contractors bidding for the Jeddah Tower contract?
Local Saudi contractors:
- El-Seif Engineering
- Nesma & Partners
- Saudi Freyssinet
Middle Eastern contractors:
- Consolidated Contractors (Lebanon)
- Mohammed Abdulmohsin al-Kharafi & Sons (Kuwait)
- China Harbour (a subsidiary of China Communications)
- China State Construction Engineering Corporation
- Skanska (Sweden)
- Strabag (Austria)
South Korean contractors:
- Hyundai Engineering Construction
- Samsung C+T (Main contractors for Dubai’s Burj Khalifa)
Who will win the race?
The contractors have been given three months to form joint ventures and to prepare their bids. Each team is expected to include at least one local and one international company.
The tower was designed by US architect Adrian Smith, who also designed the Burj Khalifa, currently the world’s tallest building. The firm of Adrian Smith & Gordon Gill is still retained on the project, as is Lebanese consulting engineer Dar al-Handasah.
The shareholders in JEC are Kingdom Holding Company (40%), Bakhsh Group (40%), and Sharbatly Group (20%).
MEED notes that the Jeddah Tower will be taller than the Burj Khalifa by more than 172 metres. It is the centrepiece of the Jeddah Economic City development. The project’s first phase, which includes the main tower, covers an area of 150ha.
Source: Construction Week Online