Saudi Arabia seeks to complete kilometer-high Jeddah Tower

Saudi Arabia’s on-again, off-again effort to build the world’s tallest skyscraper is on again.

Kingdom Holding Co. says construction of its planned 1-kilometer-high Jeddah Tower has reached 74 of its 170 stories and should be completed in 2028.

The company, founded by Prince Alwaleed bin Talal, began construction in 2013 but halted it amid a 2018 anti-corruption purge, during which the government detained the billionaire royal at the Ritz-Carlton hotel in Riyadh. He was released three months later after agreeing to an unspecified financial settlement.

In October, Finland’s KONE Corp. won a contract to equip the building with high-speed elevators.