Saudi Arabia: a land of plenty

摘要

Saudi Arabia is still investing in projects despite the global recession. Once a place of slow development, it is now exploiting the revenue it gets from oil - the country has 25 per cent of the world's known reserves. Saudi investment firm Kingdom Holding plans to build the world's tallest tower - at 1 km - for coastal area Jeddah Kingdom City. Three contractors are shortlisted: Samsung and Arabtec in joint venture, Brookfield Multiplex and Saudi Binladin Group. It hasrnalso shortlisted three architects. Two weeks ago, Capital Market Authority announced it is at pre-qualification stage with its 400 m high HQ.The tower will be built as part of the £1.6 billion King Abdullah Financial District on thernoutskirts of the capital Riyadh.