Jeddah, Saudi Arabia - Jeddah Tower has climbed to level 120, roughly 482m high, and is expected to pass the 500m mark before the end of 2026, according to a construction update in Kingdom Holding Company’s third-quarter results.
The project has recorded more than 21 million working hours with no lost-time incident and zero fatalities. Kingdom Holding, the Saudi investment group whose owner is Prince Alwaleed bin Talal, released the figures with its quarterly earnings.
Planned to rise more than 1,000m, the mega-tall mixed-use skyscraper is on track to become the world’s tallest building. It sits at the heart of Jeddah Economic City, a 57-million-sq-ft development intended to reposition Saudi Arabia as a leading global centre for business and luxury tourism.
Jeddah Economic Company (JEC), a Saudi real estate developer heavily backed by Kingdom Holding, is developing the tower. JEC manages the project with the design team of Adrian Smith + Gordon Gill Architecture, while Thornton Tomasetti and Langan International are its engineers.
On site, crews have now poured more than 322,000 cu m of concrete, which is 72% of the quantity the tower needs. Over 3,900 façade panels are being installed.
Inside the building, work has started on first-fix mechanical, electrical and plumbing (MEP) installations. Steelwork for the Sky Terrace is in the hands of a specialist subcontractor, now mobilised on site, and extra high-capacity concrete pumps have been delivered, the company said.
With 6,400 people now working on the project, construction has moved onto a fast track, according to the update. Kingdom Holding Chief Executive Officer Talal Ibrahim Al Maiman also pointed to the tower’s expected progress beyond 500m before the year is out.
The group made net profit attributable to shareholders of $241.6 million (SAR 906 million) in the nine months to 30 September 2026, 44.4% below the $434.7 million (SAR 1.63 billion) of the same period in 2025, when a one-off impairment reversal raised the comparison base.
Third-quarter net profit came to $81.1 million (SAR 304.2 million), compared with $211.9 million (SAR 794.5 million) a year earlier. Kingdom Holding said better performance from Four Seasons, BSF and its international investments supported the results.
In September the tower stood at 116 floors, about 466 metres, and JEC Chief Executive Officer Fabian Toscano said completion was targeted for late 2028. A total of 157 floors are planned.
