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Kingdom Tower (Arabic: برج المملكة‎ Burjul Mamlakah‎), previously known as Mile-High Tower (Arabic: برج الميل‎‎), is a supertall skyscraper approved for construction in Jeddah, Saudi Arabia at a preliminary cost of SR4.6 billion (US$1.23 billion).[6] It will be the centerpiece and first phase of a SR75 billion (US$20 billion)[7] proposed development known as Kingdom City that will be located along the Red Sea on the north side of Jeddah. If completed as planned, the tower will reach unprecedented heights, becoming the tallest building in the world, as well as the first structure to reach the one-kilometer mark. The tower was initially planned to be 1.6-kilometre (1 mi) high; however, the geography of the area proved unsuitable for a tower of that height. The design, created by architect Adrian Smith, incorporates many unique structural and aesthetic features. The creator and leader of the project is Saudi Arabian Prince Al-Waleed bin Talal, the wealthiest Arab in the Middle East,[8] and nephew of King Abdullah. Talal is the chairman of Kingdom Holding Company (KHC), the largest company in Saudi Arabia,[9] which owns the project, and a partner in Jeddah Economic Company (JEC), which was formed in 2009 for the development of Kingdom Tower and City.[9] Reception of the proposal has been highly polarized, receiving high praise from some as a culturally significant icon that will symbolize the nation's wealth and power, while others question its socioeconomic motives, and forecast that it will actually have negative financial consequences. In May 2011 German newspaper Bild featured a report on the building stating that it had contacted the office of archtitectural firm of Adrian D. Smith and Gordon Gill asking about the project, receiving an answer that the circulating renderings were definitely not by AS+GG and that they were unaware of any such project at all.