Jeddah Economic City, previously known as Kingdom City, is a 5,202,570 m2 (56,000,000 sq ft) (2 square mile) project approved for construction in Jeddah, Saudi Arabia. The project is designed by the Kingdom Holding Company, a firm owned by Prince Al-Waleed bin Talal. Jeddah Economic City will host both commercial and residential development including homes, hotels, and offices.
The centerpiece of the development will be Jeddah Tower, planned to be the tallest building in the world upon its completion. The entire project is estimated to cost $20 billion (SR75 billion). Jeddah Economic City is a three-phase project. Jeddah Tower will be built in phase one, infrastructure for the project will be created in phase two, the third phase will be the profits.