It’s really amazing to see KSA announcing multibillion dollar projects in the middle of a world financial crisis. The Kingdom holding company owned by Waleed Bin Talal has officially got the license for building the worlds highest tower “The Kingdom tower”. The project will take 63 months to build. It is a mixed used tower for a hotel, apartments and offices. The tower is the first phase of building the Kingdom city which is located near Jeddah with a size of 5.3 million square meters. The Jeddah economic company signed the contract for building the Kingdom tower in late 2011 with Bin Laden Group for 4.6 billion SR. As they have also signed a partnership agreement to have Bin Laden group own 16.63% from the shares of Jeddah economic company.