Kingdom Tower - Council on Tall Buildings and Urban Habitat

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Kingdom Tower:
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A New Icon for Saudi
Arabia
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Talal I. Al Maiman, CEO & MD of Kingdom Real Estate Development CO, KSA
“Building this tower in Jeddah sends a
financial and economic message that
should not be ignored. It has a political
depth to it to tell the world that we
Saudis invest in our country.”
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HRH Prince Alwaleed bin Talal bin
Abdulaziz Al Saud
Slated to become the next World’s Tallest Building at
over 1,000 meters high (3,280 feet), Kingdom Tower
will surpass Burj Khalifa by at least 173 meters. As
the centerpiece for the Kingdom City development in
Jeddah, Saudi Arabia, it will feature a luxury hotel,
offices, apartments and the world’s highest
observatory. Kingdom Tower is set to become a major
symbolic and technological achievement as the first
structure to surpass the kilometer mark. This
presentation will describe what motivated the Jeddah
Economic Company to reach for the skies and what
Kingdom Tower will represent for the Kingdom of
Saudi Arabia.
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It is HRH Prince Alwaleed bin Talal bin
Abdulaziz Al Saud vision and
determination to see that this become
a reality
The Initiator
Kingdom Holding Company
Such major development in Jeddah
shows his strong commitment to
change, challenge and participation to
the development of the Kingdom of
Saudi Arabia
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Founded in Riyadh in 1980 by HRH Prince Alwaleed
Market Capitalization: more than USD 12 billion
One of the world's largest and most diversified
investment companies
Domestic and international portfolio includes
investments in many sectors from iconic real estate
landmarks, world-famous luxury hotels to banking,
media and information technology, retail business &
healthcare, entertainment and tourism
The Kingdom of Saudi Arabia
A fast growing economy
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Source: EIU Country Brief
Largest economy in the Arab world
Member of the World Trade Organization
Population of 28 million, the largest and fasted
growing population amongst the GCC countries
Ranked as an upper middle income country by the
World Bank, positioned as the 54th highest income
per capita country
25% of the world’s proven petroleum reserves
USD 580 billion Nominal GDP (estimated 2012)
Government expenditure will remain the backbone
of the economy and is forecasted to constitute 36%
of the Kingdom GDP in 2012
In 1938
Jeddah
Center for Trade and Gate to the Holy
Cities
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Jeddah was first inhabited about 2,500 years ago as a small
fishing settlement and has long been a centre for traders
and sailors
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The city was already an established port with a history of
spice trading when Caliph Osman Ibn Affan declared it the
official port for Muslim pilgrims making their way to the
Holy Cities of Makkah and Madinah in 26 (corresponding to
year 647 Gregorian Calendar)
Source: Jeddah Municipality
Jeddah
Major driver of the Saudi economy
In 1938
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Historically, Jeddah has been one of the major drivers
of the Saudi economy
As both the religious and commercial gateway to the
Arabian Peninsula, it has for centuries occupied a
central place in the regional economy
Jeddah’s economy is less dependent on oil than the
rest of the country, and has a diverse array of activities
supported by a strong entrepreneurial culture
Jeddah must also leverage its inherent strengths
including its strategic location, history and culture,
diverse economic base, and its status as the gateway
for Islamic visitors from all over the world, to build a
globally competitive economic
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Source: Jeddah Municipality
The Project
Kingdom City Jeddah
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The Kingdom City Development Project (KCDP) site is
located on Saudi Arabia’s Red Sea coast at the entrance of
Sharm Obhur, which is approximately 20 km north of
Jeddah’s Central Business District. KCDP will be one of the
largest and most comprehensive real estate development
projects ever to be built in Saudi Arabia. It covers an area of
over 5.3 million square meters and includes commercial,
residential, institutional, educational, entertainment, retail,
and hotel facilities
The Project will be developed by Jeddah Economic
Company (“JEC”)
The contract for construction of the tower was signed with
Saudi Bin Laden Group for USD 1.2 billion with the overall
estimated cost of the Kingdom City Jeddah project seen at
USD 20 billion
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The Project
Sponsor Details | JEC Ltd
Shareholders of Jeddah Economic Company ‘’JEC’’
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Abraar International
Holding Company
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Mr. Abdulrahman
Sharbatly
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Chairman and a Director of Al Nahla
Group of Companies.
Director of Riyad Bank and Al Sagr Cooperative Insurance Co., MTN Group
Ltd. (South Africa),
Founder of Citystars project in Cairo,
Egypt
Diversified conglomerate based in
Jeddah
Owner of substantial real estate in KSA,
especially Jeddah
“World tallest building as per CTBUH
categories”
The Project
Kingdom Tower – Key facts (1/3)
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1000m +
Jeddah
829m
Dubai
492m
Shanghai
484m
Hong Kong
437m
Doha
417m
New York City
Highest Occupied floor :
Kingdom Tower :
Level 163 - Elevation 654m
Currently Burj Khalifa
Level 154 - Elevation 584.5m
Highest Architectural Top:
Kingdom Tower:
1000m +
Currently Burj Khalifa
828m
Highest tip:
Kingdom tower:
Currently Burj Khalifa
Elevation: 1000m +
Elevation: 829.8m
“The tower is so tall, that at the
top of the tower, the
temperature is approximately 4
degrees C cooler than at
the bottom”
The Project
Kingdom Tower – Key facts (2/3)
Number of Stories:
163 Stories above Main Lobby level
Height:
More than 1000m /3,280 feet / 1K/ 0.625 miles
Built-up Area:
556,000 m2 Total Area
Tower (340,000) + Podium (216,000)
Parking:
3,100 Parking spaces in 4 levels
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Uses:
Offices
9 Floors ( 6 to 14)
Hotel:
8 Floors (19 to 26)
192 Rooms
Serviced Apartments:
11 floors ( 27 to 37)
121 units
Residences:
96 floors ( 43 to 120 and 148 to 163
370 Units
Executive Suites:
15 Floors (129 to 143)
90 Units
The Project
Kingdom Tower – Key facts (3/3)
Special Uses:
Observatory:
Level 125
Elevation 502m
Current highest public observatory: Shanghai World Financial Center at 474m
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Restaurant:
Level 127
Elevation 510m
Current highest restaurant : Atmosphere at Burj Khalifa at 442m
Sky Terrace:
Level 157
Elevation 630m
Current highest private terrace: Level 152 at Burj Khalifa at 574.9m
65 Total Elevators (72 Cabs):
42 Tower Elevators
2 Triple Decker Elevator (observatory, Executive suites and Super PH)
First Triple Decker elevator in the world.
Speed 10mps
It takes 98 sec to go from lobby to observatory level at 508m (including
Loading time)
The Project
Feasibility
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Project IRR – 100% Equity
1)
25%
23.0%
20%
15%
16.0%
10%
5%
-
Base Case
Best Case
Notes
• Project IRR at 16% on 100% equity basis (base
case)
• IRR calculated on CF net of non-cash items
1) Project IRR includes the development around the Highest Tower
The Project
Kingdom Tower – Key Challenges
Project idea was born late 2006
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Identifying the location where such a height will be allowed
Finding a developer
Choosing the design
Preparing the master planning
Finding the right partners
Bidding the construction project
Securing the building permit
Getting the international safety code approved vs. GCC
code
Defining the infrastructure
Making the financials work
And the challenge continues ................
Conclusion
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“Kingdom Tower is an invitation to all
innovators around the world to reach to a
place where no man or an elevator has ever
been before”
Thank you
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“I also want to thank allin
those who
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have participated inilmaking
this project
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a reality”
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Adrian Smith + Gordon Gill Architecture
Adrian Smith
Partner
Gordon Gill
Partner
Robert Forest
Partner
Brian Jack
Director, Project Manager
Peter Weismantle
Director, Super-tall Building Technology
John Burcher
Director of Interior Design
Peter Kindel
Director of Urban Planning
Alejandro Stochetti
Director
Don Stark
Senior Architect
Marc Cerone
Interior Architect
Bob Finigan
Senior Architect
Sara Beardsley
Senior Architect
Vanessa Newton
Senior Architect
Afaq Syed
Senior Architect
Ben Raines
Architect
Krystian Gardula
Architect
Rebecca Cryder
Interior Architect
Chris Harvey
Interior Architect
Dar Al-Handasah – Local Associate AOR
Wajdi Abou-Izzeddine
Senior Project Manager
Sherif Agaiby
Director, Civil
Charles Malek
Director, Structural
Sari Gedeon
Director, Project Management and Contracts
Danny Aoun
Partner in Charge, KSA
Kim Prishtina
Structural Engineer
Mathew Barron
Structural Engineer
Ray Clark
Partner, P+W
Sari Gedeon
Director, Management and Contracts
Nabil Moussa
Life Safety Engineer
Hamed Sorour
Senior Architect/Urban Planner
Mohamed Abdallah Shoman
Senior Transportation Engineer
Hani Yamout
Project Manager
Mohamed Shoman
Senior Transportation Engineer
Yehia El-Ezaby
Head of Structural Department
Tarek Hassan
Head of Structural Design Unit
Mohamed Sayed,
Senior Geotechnical Engineer
Samir Al-Kashef,
Senior Airport Engineer
David Eyre (Penspen UK),
Cathodic Protection Specialist
KSA Civil Defense
Adel Youssef Ahmed Zamzami
Fayez Alotaibi
Saad Hassan Al-Zahrani
Alaa Jahdali
Environmental Systems Design – MEP DESIGN
Mehdi Jalayerian
Senior Vice President
Ken Lechner
Vice President
Suzan Sun-Yuan
Senior Engineer - Mechanical
Danielle Schenkoske
Senior Engineer - Plumbing
Eric Lee
Senior Engineer – Fire Protection
Phil Sawyer
Vice President
Daniel Michaud
Vice President, Technology
Antonio Wright
Senior Associate
Cory Abramowicz
Engineer
Kevin Rattigan
Associate
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Major General
Brigadier General
Lieutenant Colonel
Captain
THORNTON TOMASSETTI-Structural Engineers
Robert Sinn
Principal
John Peronto
Project Engineer
Emaar Properties – Client Representative
Fred Durie
CEO, JV Companies
Scott Pottruff
Senior Director, Development
Philip Pragasam
Director, Contracts
Mazen Mneimneh
Senior Manager, Development
Osama Abou El Enain
Director, Development
Fadi El Borno
Manager, Development
Zuhair Bakheet
Head of Development, Jeddah
Noor Al Muhaideb
Manager, Development
Dayal Hatock
Manager, Development
Façade Access Consulting
Lee Herzog
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Langan
Civil Geotech Consultants
George Leventis
Rudolph Frizzi
Alan Poeppel
Marc Khoury
Ryan Meltzer
DJ Hodson
Scott Rowland
Dennis Molner
Sumeet Kishani
President
Senior Principal
Senior Associate
Senior Engineer
Civil Engineer
Civil Engineer
Civil Engineer
Project Manager
Project Engineer
RJA-Fire and life safety consultants
Jim Antell
Executive Vice President
Nick Williams (part time)
Project Manager
Shamim Rashid-Sumar
Dubai Office Project Manager
Jamal Ali
Fire Protection Engineer
Abbey Haidar
Associate
Fortune Consultants LTD-Elevator Consultants
Jim Fortune
President
Scott Sheppler
President
Positive Energy Practice-MEP consultants (special Studies)
Roger Frechette
President
Larry Wilson
Director
Mathew Shaxted
Project Engineer
RWDI - Wind Engineering
Jon Galsworthy
Bob Summers
Senior Consultant
SWA – Landscape Design
John Wong
AON-Fire and Life Safety Peer reviewer
Dan O’Connor
Chief Technical Officer
Mohamed Mohamed
Associate Consultant
Cosentini Consulting Engineers – MEP Peer Review
Bud Spiewak
Senior VP, Director
Noriel Nicolas
Vice President
Robert Jackson
Director, P/FP
Basem Radi
Senior HVAC Designer, PM
Davenport Wind Engineering – Wind Engineering Peer Review
Peter Case
Project Manager
Eamon Kelly Consulting – Retail Consultant
Eamon Kelly
Edgett Williams Consulting – Vertical Transportation Peer Review
Steve Edgett
Principal
FMS (FISHER MARANTZ STONE)
Lighting Consultant
Charles Stone
President
Four Seasons
Scott Woroch
John MacKinnon
Richard Arnold
Scott Woroch
Executive Vice President
Senior Vice President
Development Manager
Executive Vice President
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Katzenbach Consulting - Geotechnical Peer Review
Rolf Katzenbach
Geotechnical Engineer
Matthias Seip
Geotechnical Engineer
Lerch Bates – Materials Handling
Ryan Mair
Project Manager
MKA – Structural Peer Review
Ron Klemencic
Andy Fry
Min Chun
President
Principal
Project Director
SAKO
Security Consultant
Bill Sako
Chairman
AEGIS
Cathodic Protection
Calvin Pynn
HOK – Master Planners
Robert Marshall,
Alfredo Landaeta,
Amy Roots,
Zaid Saleh ,
Cathodic Protection Specialist
Principal
Principal
Associate
Planner