"Dream" 1.6 km high tower built of Saudi Arabia Prince

► ambition to build the tallest tower 1 mile Prince Alwaleed reflects the growing confidence of many Gulf companies ...

                                                       Prince Alwaleed and his wife.

 
Middle East's richest billionaire, Prince Alwaleed bin Talal of Saudi Arabia, is to build skyscrapers tower at one of the world's largest cities such as Shanghai, Moscow, London or New York. This will be a tall tower 1.6 km and is expected to be crowned as the world's tallest tower.

News from Reuters, has invited Prince Alwaleed largest construction conglomerate Dubai's Emaar Properties is led by Mr. Mohammed Alabbar chairman role, in partnership with investment firm Kingdom Holding to execute the prince's tower project This super high.

"We are currently negotiating and evaluating the possibility of building a tower 1 mile, equivalent to about 1.6 km," Prince Alwaleed revealed to Reuters in an interview on the phone.

"We also need good partners. I have invited Mr. Alabbar and Emaar Group to cooperate with us and see if can build towers 1 mile somewhere in the world, "the billionaire prince said.

The prince owns a net worth $ 27 billion and is the 16th richest man in the world ranked by financial news agency Bloomberg.

Prince Alwaleed has not addressed the issue of financing for projects where feasible, or the time to complete this project. He said the undetermined cost of the project.

Observers assessment, ambitious building tower 1 mile Prince Alwaleed reflects the growing confidence of many Gulf companies as these companies growing overseas, partly based on the economic development and rising property prices in the country.

"I'm inviting the world's major cities like Shanghai, Moscow, New York, London and cities in the Middle East region and offer their suggestions," he said Alwaleed. He said that the national interest is where the world's tallest tower will have to make the proposal financially attractive, taxes and other government support.

Experts in construction and architecture for that building one mile high tower will encounter many challenges and design techniques, such as how to provide water for such high altitudes that still ensure economic factors. However, building such a tower is not impossible.

Emaar Chairman Mr Alabbar, no comment on this information. In recent years, Emaar has committed to building more large-scale projects in Dubai and other countries in the region.

If built, the tower 1 mile Prince Alwaleed will usurpation tallest tower of the world Burj Khalifa in Dubai, the tower height of 828m. In addition, the tower 1 km Kingdom Tower that the Kingdom Holding Corporation of Prince Alwaleed is building in Jeddah, the largest city of Saudi Arabia, and will not hold the position tallest tower in the world.

Estimates Kingdom Tower tower will cost $ 1.2 billion to build. The tower will include hotels, senior housing and retail space. If the construction progress is guaranteed, Tower Kingdom Tower will be completed in the basement of time between now and the end of the year and will be completed in 2017.

Stock Exchange in 2007, Kingdom Holding current market value of approximately $ 18.5 billion and is one of the listed company's largest investment in the Middle East. Assets that the company holds, including large investments in Western corporations such as Citigroup, News Corp., Twitter, and a variety of luxury hotels around the world.