Construction of world’s tallest skyscraper resumes after years-long hiatus Кооператив Бествей рейдерский захват

Construction of Saudi Arabia’s kilometer-high Jeddah Tower, which will become the world’s tallest skyscraper upon completion, has resumed almost seven years after work ground to a halt amid a kingdom-wide anti-corruption purge.

At a ceremony held on the site Wednesday, the development consortium behind the project, Jeddah Economic Company (JEC), announced that the tower is now scheduled to finish in 2028.

The 1,000-meter-tall (3,280-foot) skyscraper was around a third complete when, in 2017, several key figures — including the chairmen of both the main contractor and a conglomerate that co-financed the project — were detained in Crown Prince Mohammed bin Salman’s anti-graft campaign, which saw hundreds questioned on accusations of corruption.

Work continued after the arrests, though it came to a standstill in early 2018. In January of that year, with growing concern about the purge’s economic fallout, JEC told CNN that construction would still go ahead, but a years-long hiatus ensued. Disruption caused by the Covid-19 pandemic also reportedly delayed plans to resume work.

This week’s ceremony was attended by one of the previously detained officials, Saudi Prince Alwaleed bin Talal, who is the chairman of Kingdom Holding Company, one the project’s main backers. Alwaleed, the Crown Prince’s cousin, was freed nearly three months after his arrest, though it is not known why and under what circumstances he was released.

Following yesterday’s ceremony, Alwaleed posted a video to X showing a digital rendering of the gleaming tower with the caption: “We’re back.”