AWCS told Jeddah Economy Company investment will be up to SR20bn by 2020

The annual Arabian World Construction Summit (AWCS) was told this morning that first-phase investment in the Jeddah Kingdom Tower and residential and commercial development will be SR18bn-20bn.

The project’s first phase is scheduled to be completed 2020, Jeddah Economic Company chief executive officer Mounib Hammoud told the AWCS.

“This will be the new city centre and business district for Jeddah,” Hammoud said.

Hammoud said that work is under way on the Jeddah Kingdom Tower, which will be the tallest building in the world at more than 1,000 metres. It’s due to be completed in 2018.

The three-day AWCS 2014 is being held at the Sofitel Hotel on Palm Jumeirah.

Sponsors and supporters of the MEED AWCS 2014 are:

  • HSBC and CPC are strategic event partners.
  • Hyder and Six Construct are gold partners.
  • Agis, Mashreq and Projacs are silver sponsors.
  • Deloitte is knowledge partner.
  • EC Harris Built Asset Consultancy is lunch sponsor on day one.
  • Bentley is CEO Forum sponsor.
  • Aksa, Drake & Scull, Hill International and Zurich are conference sponsors.