Jeddah Tower and the initial phase of the surrounding master-planned city are now targeted for completion in late 2028, according to the developer’s chief executive.
The updated schedule represents a delay of a few months relative to dates disclosed last year, reflecting broader supply chain frictions and cost pressures affecting major construction projects across the Middle East.
Speaking at the Saudi Mega Projects 2026 conference in Riyadh, Fabian Toscano, chief executive of Jeddah Economic Company (JEC), confirmed that the mega-structure reached its 116th floor last month, standing at an elevation of approximately 466 metres.
That milestone leaves 41 of the planned 157 floors remaining to construct.
However, Toscano noted that ongoing war in the Gulf continues to drive up procurement and labour costs for contractors operating across Saudi Arabia’s expanding gigaproject landscape.
A new anchor on the Red Sea
The skyscraper sits in Obhur, roughly 20 kilometres north of central Jeddah, positioned between Obhur Creek and the Red Sea.
The tower represents the sole vertical structure currently rising across the vast 5.3 million square metre Jeddah Economic City masterplan, which Toscano characterised as “the heart of the project”.
Key details
- Target completion date: Late 2028
- Current progress: 116 floors/466 metres
- Remaining vertical scope: 41 floors of 157 planned
- Masterplan scale: 5.3 million square metres
Designed to surpass Dubai’s 828-metre Burj Khalifa, Jeddah Tower is engineered to reach a final height exceeding 1,000 metres.
Upon completion, the mixed-use skyscraper will house a luxury Four Seasons hotel, high-end commercial office space, residential apartments, and what is planned to be the world’s highest outdoor observation deck.
Construction trajectory
The project originally broke ground over a decade ago but experienced prolonged halts due to contractor restructurings and broader economic shifts in the region.
Work resumed following the re-engagement of major contracting consortiums and renewed backing from key shareholders, including Kingdom Holding Company and Saudi Binladin Group.
The current cost environment, exacerbated by geopolitical friction and freight disruptions in surrounding waterways, has forced developers across the Gulf to recalibrate budget baselines and delivery timelines.
Despite these headwinds, Saudi Arabia’s push to build out major tourism and real estate hubs along its western coastline remains a cornerstone of its national economic diversification agenda under Vision 2030.
Jeddah Economic City is ultimately intended to accommodate over 200,000 residents while serving as a commercial gateway along the Red Sea, anchored by the central skyscraper.