Jeddah Tower cements region’s status as global high rise capital
2 October 2024

> This package also includes: Contractor appointed to complete world's tallest tower
The appointment of Saudi Binladin Group (SBG) on 2 October to complete the 1,000-metre-plus-tall Jeddah Tower in Saudi Arabia will cement the region's status as the global high-rise capital. Dubai's Burj Khalifa has been the world's tallest tower since 2009, and the completion of Jeddah Tower will mean the region's run as home to the world's tallest building will continue for many more years. Here is a list of the region's tallest buildings:
1. Burj Khalifa, UAE
The construction of the world’s tallest skyscraper, Burj Khalifa, began in 2006 and reached its pinnacle in 2009.
The 829.8-metre-tall tower was developed by Dubai’s Emaar Properties and designed by US-based Skidmore Owings & Merrill.
Construction was led by a consortium of South Korea’s Samsung C&T, the local/Belgian Bel Hasa Six Construct and the local Arabtec Construction. The $875m main construction contract was awarded in December 2004.
The 163-storey tower took 22 million man-hours to build. Overall, the project cost about $1.5bn to complete.
2. Mecca Royal Clock Tower, Saudi Arabia
The 601-metre-tall Mecca Royal Clock Tower is the landmark feature of the Abraj al-Bayt complex.
The development comprises seven towers overlooking the holy site of Kaaba, with a total built-up area of more than 1.4 million square metres and 15,000 apartments.
Saudi Binladin Group was the main contractor for the project.
The $800m contract for the clock tower was awarded in 2003 and the complex completed in 2012.
3. Marina 101, UAE
Marina 101 is the second-tallest building in Dubai.
Construction began in 2007 when Turkish contractor TAV was awarded the estimated AED800m ($218m) main contract.
The project involved building a 101-floor tower with a height of 425 metres and a total built-up area of 144,000 sq m.
The project has witnessed several setbacks over the years and remains unoccupied. The construction works were partially completed in 2017.
4. Princess Tower, UAE
Princess Tower is the second-tallest residential building in the world.
The 107-storey tower stands 413 metres tall and is located in Dubai Marina.
The project was announced in 2005 and the foundation works were completed in 2007.
The main contractor for the project was the Lebanese Arabian Construction Company.
The Princess Tower was the world’s tallest residential building from 2012 to 2015, when it was overtaken by 432 Park Avenue in New York City.
5. Al-Hamra Tower, Kuwait
The 80-floor Al-Hamra Tower is the tallest building in Kuwait and the 36th tallest in the world, at 412 metres. It was built by the local Ahmadiah Contracting & Trading Company. Construction works started in 2005 and were completed in 2011. The project was designed by US-based architectural firms Skidmore, Owings & Merrill, Callison and the local Al-Jazirah Engineers & Consultants.
6. 23 Marina, UAE
The 392-metre-tall 23 Marina is the fourth-tallest building in the UAE and the 40th tallest in the world. Dubai Civil Engineering constructed the 88-floor tower. The construction works started in 2005 and the project was completed in 2012. US-based KEO International and Indian Architect Hafeez Contractor designed the tower.
Jeddah Tower restart is watershed moment
7. PIF Tower, Saudi Arabia
The Public Investment Fund (PIF) Tower is located within Riyadh’s King Abdullah Financial District. US-based HOK Architects, Canadian WSP, Hyder Consulting and the local Omrania Associates designed the 385-metre-tall, 80-storey tower. The construction works began in 2009 and were finally completed in 2022. Saudi Binladin Group was the main project contractor.
8. Iconic Tower, Egypt
The 385-metre-tall Iconic Tower is the centrepiece among the 20 buildings of the Central Business District in Egypt’s New Administrative Capital. The construction of this 80-storey tower started in 2019 when China State Construction Engineering Corporation was appointed as the main contractor. The construction works on Africa’s tallest skyscraper were completed in 2022. Lebanese engineering company Dar al-Handasah was the project consultant.
9. Burj Mohammed bin Rashid, UAE
Completed in 2014, Abu Dhabi’s tallest building measures 381 metres and consists of 88 floors. The tower, part of the Abu Dhabi World Trade Centre, was announced in 2004. The construction works started in 2007 under the government’s redevelopment plan. The consultants involved in the development included Arup, Mott MacDonald, Foster & Partners, AtkinsRealis and Callison. Lebanese contractor Arabian Construction Company undertook the construction works.
10. Elite Residence, UAE
Dubai Marina’s Elite Residence, a 91-storey residential building, is the sixth-tallest building in the UAE. The 380-metre-tall tower was announced in 2006 and designed by Lebanese Khatib & Alami. The construction works began in 2007 when Arabian Construction Company was awarded the main construction contract. The tower has been operational since 2012.
|
SOON TO JOIN GCC countries’ quest to build tall towers is not over yet. Several upcoming developments are likely to overthrow some of the tall towers on our list. These schemes include:
|
Tallest towers in the world


Jeddah Tower image (top): Jeddah Economic Company
Exclusive from Meed
-
State-backed spending cushions UAE construction slowdown13 October 2026
-
Consortium signs EPC contract for Rabigh 2 IPP expansion13 October 2026
-
Contractor groups prequalify for Dubai Metro Gold Line13 October 2026
-
Egypt discusses technology cooperation with SLB13 October 2026
-
Kuwait tenders gas export pipeline13 October 2026
All of this is only 1% of what MEED.com has to offer
Subscribe now and unlock all the 153,671 articles on MEED.com
- All the latest news, data, and market intelligence across MENA at your fingerprints
- First-hand updates and inside information on projects, clients and competitors that matter to you
- 20 years' archive of information, data, and news for you to access at your convenience
- Strategize to succeed and minimise risks with timely analysis of current and future market trends
Related Articles
-
State-backed spending cushions UAE construction slowdown13 October 2026

The UAE projects market is undergoing a structural realignment. Following a surge in private real estate investment after the Covid-19 pandemic, activity in the commercial and residential segments has softened amid regional geopolitical uncertainty.
Rather than allowing the market to contract, state and government-related entities (GREs) – particularly in Dubai – have stepped in to offset the shortfall, deploying balance-sheet capital countercyclically into strategic infrastructure, cultural and tourism projects.
Dubai recalibrates
Dubai’s construction sector has remained resilient at a headline level. On-site work continues, and major international contractors are securing new work.
A clear indicator of this stability came in September, when China State Construction Engineering Corporation secured an AED5bn ($1.3bn) contract from Dubai Holding for the developer’s new headquarters and the Jumeirah Residences Emirates Towers scheme.
Beneath this headline stability, however, procurement drivers have shifted dramatically. Private real estate activity, which supported the market’s post-pandemic resurgence, cooled following the onset of regional conflict at the end of February. Off-plan residential sales declined from a monthly peak of $9bn in February to $4bn in August.
Monthly contract awards for residential projects mirrored this contraction, dropping from $3bn to $306m over the same period as private developers deferred new project launches and conserved capital.
Government and government-related clients have absorbed much of the resulting shortfall. Dubai awarded $52.6bn of contracts in 2025, of which state-backed clients accounted for $26bn, or about 49%.
In 2026 to date, government and GRE procurement has reached $22.4bn of the $34.6bn in contracts awarded, representing almost two-thirds of total market activity.
The shift towards sovereign-backed spending appears intended to support construction activity and limit pressure on the supply chain during a period of private sector retrenchment.
This state intervention is underpinned by an unawarded projects pipeline of $530bn in Dubai, according to MEED Projects data.
The city’s future construction pipeline remains heavily weighted towards housing and integrated urban developments. Unawarded construction projects in the emirate total about $144.5bn, with residential and mixed-use developments accounting for almost 89% of the total value.
Planned residential schemes account for $66.5bn, or 46%, of the pipeline, followed by large-scale mixed-use developments at $61bn, or 42.7%. The remainder comprises hospitality projects ($5bn), commercial offices ($4.8bn), telecommunications ($2bn) and retail ($2bn), alongside smaller allocations for education and civic facilities.
Abu Dhabi accelerates
A similar dynamic is evident in Abu Dhabi, where sovereign-backed entities continue to shape construction procurement. Unlike Dubai, which has historically relied more heavily on private developers, Abu Dhabi’s market is largely led by state-affiliated master developers.
Entities such as Aldar Properties and Modon Holding remain the primary engines of the emirate’s residential and mixed-use pipeline, progressing vast masterplans across Saadiyat Island, Yas Island and Hudayriyat Island.
At the same time, Abu Dhabi is directing public capital expenditure towards entertainment, culture and hospitality as it pursues the objectives of its Tourism Strategy 2030.
Rather than moderating capital deployment amid regional geopolitical strains, state-backed entities are accelerating destination developments designed to expand visitor capacity and build long-term economic resilience.
Leisure developer Miral has already confirmed plans to invest more than AED12bn ($3.2bn) across Yas Island over the next five years. The investment will fund new attractions and expand hotel capacity, separate from the planned Disney development.
Work is already under way on a 63,000-square-metre phase-two expansion of Warner Bros World Yas Island, featuring a Harry Potter-themed zone.
Major civic entertainment venues are also moving to construction. In May, Alec Engineering & Contracting received the letter of award for the $1.7bn Sphere Abu Dhabi project on Yas Island. The venue is being developed by the Department of Culture and Tourism–Abu Dhabi (DCT Abu Dhabi) in partnership with US-based Sphere Entertainment, and is scheduled to be completed in the third quarter of fiscal year 2029.
On neighbouring Saadiyat Island, DCT Abu Dhabi has broken ground on Dar Al-Funoon, a performing arts venue designed by the late Frank Gehry. The project is planned to accommodate more than 6,000 people across a 2,000-seat multipurpose hall, an open-air amphitheatre, a studio theatre and a jazz venue. Main contract bids are currently under evaluation ahead of an imminent award and a 2030 opening.
Abu Dhabi’s unawarded projects pipeline is led by mixed-use and residential developments, which together account for about $51.3bn, or 54% of the roughly $95bn total shown.
Telecommunications and data infrastructure forms the single largest individual segment at $33.4bn (35%). Subsequent phases of the estimated $40bn Stargate project represent the bulk of the emirate’s planned data-centre capacity. The planned artificial intelligence infrastructure initiative is designed to strengthen Abu Dhabi’s position as a regional data and connectivity hub, with construction on phase one already under way.
Hospitality accounts for a further $7.6bn (8%) of the pipeline. The remaining balance of roughly $2.5bn is distributed across retail, culture, leisure, healthcare, public facilities, commercial offices, earthworks and education.
Along with Dubai’s $79.6bn in near-term tenders, the combined $116bn in active procurement confirms that sovereign liquidity will continue to insulate the UAE construction market from broader private sector volatility.
https://image.digitalinsightresearch.in/uploads/NewsArticle/20536766/main.gif -
Consortium signs EPC contract for Rabigh 2 IPP expansion13 October 2026
A consortium comprising PowerChina, Egypt’s Elsewedy Electric and Beijing-headquartered Sinohydro has signed an engineering, procurement and construction (EPC) contract for Saudi Arabia’s Rabigh 2 combined-cycle gas-turbine (CCGT) independent power project (IPP) expansion.
The signing ceremony took place in Riyadh on 12 October and the contract involves the plant’s design, procurement, installation, construction, commissioning, grid connection and performance testing.
MEED previously reported that construction works had commenced, with Elsewedy Electric and Sinohydro carrying out works on the project.
The signing follows the project’s financial close earlier this month, after it secured SR9.69bn ($2.58bn) in long-term financing.
The financing has a tenor of approximately 34 years and was provided by a consortium of local, regional and international lenders.
The project is being developed by Al-Morjan Two Electricity Company, in which Acwa and Saudi Energy, formerly Saudi Electricity Company, each hold a 40% stake.
In April, MEED reported that Acwa and Saudi Energy had signed a 31-year power purchase agreement (PPA) with Saudi Power Procurement Company (SPPC) for the project.
The agreement is valued at SR11.5bn ($3.07bn) and covers the development of a CCGT plant in the Mecca region under a build, own and operate arrangement. The project also includes the development and expansion of a 380kV electrical substation. The plant is designed to be ready for the future installation of carbon-capture technology.
READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDFIndustry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.
Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
> AGENDA: Oxagon takes centre stage at Neom> MARKET FOCUS: Saudi projects hold steady> INDUSTRY REPORT: MEED’s 2026 GCC power developer ranking> LEADERSHIP: The future city does not need to hang above the groundTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/20535598/main3026.jpg -
Contractor groups prequalify for Dubai Metro Gold Line13 October 2026

Six contracting groups submitted prequalification statements on 9 October for the contract to build Dubai Metro’s new Gold Line.
The Roads & Transport Authority (RTA) issued the request for qualification notice for the project in June, as MEED exclusively reported.
The consortiums formed to bid for the main contract are:
- Alstom / China Railway Engineering Corporation / National Projects Construction / Dogus Construction (France/China/local/Turkiye)
- CRRC / Limak / Mapa Group (China/Turkiye/Turkiye)
- Hitachi / China Harbour Engineering Company / China State Construction Engineering Corporation (Japan/China/China)
- Siemens / Petrojet / Concord Engineering & Contracting / Rowad Modern Engineering (Germany/Egypt/Egypt/Egypt)
- Hassan Allam / IC Ictas / Siemens (Egypt/Turkiye/Germany)
- Larsen & Toubro / Powerchina / Wade Adams (India/China/local)
Dubai officially announced the Gold Line in April.
In a post on social media site X, Sheikh Mohammed Bin Rashid Al-Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, said the project would cost about AED34bn ($9.2bn).
The Gold Line will increase the Dubai Metro network’s total length by 35%. The project is scheduled to be completed in September 2032.
The fully underground line will extend for more than 42 kilometres and include 18 stations. It will pass through 15 areas of Dubai and serve 1.5 million residents.
The project is expected to connect more than 55 under-construction real estate developments.
The Gold Line will begin at Al-Ghubaiba in Bur Dubai and terminate at Jumeirah Golf Estates. It will connect with the existing Red and Green lines and integrate with the Etihad Rail passenger network.
The contractor will be responsible for the design and construction of all civil works, electromechanical equipment, rolling stock and rail systems. The selected contractor will also be required to support systems maintenance and operations during an initial three-year period.
In October last year, MEED exclusively reported that the RTA had selected US-based engineering firm Aecom to provide consultancy services for the Dubai Metro Gold Line project.
Stage one covers concept design; stage two, preliminary design; stage three, tender-document preparation; stage four, construction supervision; and stage five, the defects-liability period.
READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDFIndustry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.
Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
> AGENDA: Oxagon takes centre stage at Neom> MARKET FOCUS: Saudi projects hold steady> INDUSTRY REPORT: MEED’s 2026 GCC power developer ranking> LEADERSHIP: The future city does not need to hang above the groundTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/20531469/main.png -
Egypt discusses technology cooperation with SLB13 October 2026
Egypt is in talks with US-based oilfield services company SLB to expand technical cooperation in the country’s oil and gas sector, according to a statement from the Ministry of Petroleum & Mineral Resources.
Egyptian Minister of Petroleum and Mineral Resources Karim Badawi met SLB chief executive Olivier Le Peuch in Riyadh, the ministry said.
During the meeting, they discussed ways to strengthen their strategic partnership and expand cooperation in technology and digital transformation.
They also discussed how SLB could support exploration and production activities, with the aim of increasing output and attracting further investment in Egypt’s oil and gas sector.
Badawi emphasised the importance of extending the existing partnership with SLB, including its role in technology transfer and the development of technical capabilities in Egypt’s oil sector, according to the statement.
He said Egypt should build on existing areas of cooperation and deploy advanced technological solutions to reduce exploration risk, increase recovery and production rates from existing fields, and improve operational efficiency.
Badawi and Le Peuch also discussed progress on a seismic survey project being undertaken by SLB in partnership with France-based Viridien.
The project includes an ocean-bottom node seismic survey covering about 95,000 square kilometres of Egypt’s eastern Mediterranean waters.
The discussion focused on the data processing and analysis schedule, the steps required to prepare and release preliminary results, and the drilling schedule.
Badawi and Le Peuch also discussed expanding the use of horizontal drilling technologies in Egypt. This would involve identifying suitable locations and developing a commercial and contractual model for their deployment.
The Ministry of Petroleum & Mineral Resources and SLB are also exploring opportunities to expand the use of artificial intelligence in reservoir management and production optimisation.
This work is being explored in partnership with the Egyptian General Petroleum Corporation and Egyptian Natural Gas Holding Company.
READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDFIndustry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.
Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
> AGENDA: Oxagon takes centre stage at Neom> MARKET FOCUS: Saudi projects hold steady> INDUSTRY REPORT: MEED’s 2026 GCC power developer ranking> LEADERSHIP: The future city does not need to hang above the groundTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/20517735/main.jpg -
Kuwait tenders gas export pipeline13 October 2026

State-owned upstream operator Kuwait Oil Company (KOC) has tendered a contract to develop a gas export pipeline.
The 24-inch-diameter pipeline will extend from Booster Station 171 (BS-171) to the Intermediate Slug Catcher (ISC) facility in southeastern Kuwait, passing through the tie-in point known as TP-1.
The bid deadline is 5 January 2027. A preliminary online meeting to discuss the project is scheduled for mid-November.
BS-171 was inaugurated in February 2018. It serves as a central gas-treatment facility for gas and condensate from several gathering centres in West Kuwait and other areas.
The feeder gathering centres include GC-17, GC-27, GC-28 and GC-16.
BS-171 was Kuwait’s first facility designed specifically to handle acid gas.
The ISC facility is located about 80 kilometres from BS-171.
KOC announced plans to tender the project last year. At the time, it said that the scope would include the installation of bidirectional pig traps above the new pipeline.
A pig trap is a section of piping that enables a pipeline pig – a device used to clean, inspect or maintain a pipeline – to be launched or received.
The chosen contractor will need to provide:
- Valves
- Piping
- Fittings
- Civil services
- Structural services
- Electrical and instrumentation services
- Tie-ins
- Testing services
- Pre-commissioning services
- Commissioning services
The ISC facility is a major gas-handling facility in Kuwait’s Burgan area. It receives sour gas from West Kuwait oil fields before the gas is transported onwards to the Mina Al-Ahmadi gas-processing facilities.
READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDFIndustry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.
Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
> AGENDA: Oxagon takes centre stage at Neom> MARKET FOCUS: Saudi projects hold steady> INDUSTRY REPORT: MEED’s 2026 GCC power developer ranking> LEADERSHIP: The future city does not need to hang above the groundTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/20517716/main.jpg