(Photo : Skyscraper Center, Adrian Smith + Gordon Gill Architecture / CTBUH)The Jeddah Tower
CNN shared that Jeddah Tower, originally called as the Kingdom Tower, was designed by US architect Adrian Smith. Located at Jeddah's Red Sea, it will include residential and corporate spaces, alongside a hotel, retail, mall and observation deck.
As for its architectural design, Jeddah Tower will resemble a three-petal footprint and tapered shape, similar to how leaves look like when growing from the ground.
With this development, Jeddah will be the gateway to Mecca and Medina and will change its image for residents who have been living and working overseas for their careers. Saudi Arabia is already urging multinational companies to move their regional headquarters to the Kingdom Tower, stating that they will miss out on valuable government contracts if they refuse.
So far, the Financial Times report showed that the Saudi Arabian government listed 517 companies, including about 30% of Fortune 500 companies, that already received licenses to establish their headquarters in the area.
However, analysts believe it will only lead to stronger business competitions, considering operation hubs have been in the region already. It will be up to Kingdom Tower's offerings, like labor regulations, operating costs, and such, to determine if it can be a regional business center of the country.