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This is set to be the tallest building in the world, stretching 3,300 feet into the sky. It will have the two fastest elevators on the planet, moving at 41 feet per second. The price tag for this project? $20 billion. Via CNBC Posted By Abdul Kingdom Tower (Arabic: برج المملكة‎‎ Burj Al-Mamlakah), previously known as Mile-High Tower (Arabic: برج الميل‎‎), is a skyscraper currently under construction in Jeddah, Saudi Arabia, at a preliminary cost of SR4.6 billion (US$1.23 billion).[8] It will be the centrepiece and first phase of a SR75 billion (US$20 billion)[9] 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-kilometre-high mark. The tower was initially planned to be 1.6 kilometres (1 mi) high; however, the geology of the area proved unsuitable for a tower of that height. The design, created by American architect Adrian Smith, who also designed Burj Khalifa, 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,[10] and nephew of the late King Abdullah. Al-Waleed is the chairman of Kingdom Holding Company (KHC) [11] which is a partner in Jeddah Economic Company (JEC), which was formed in 2009 for the development of Kingdom Tower and City.[11] Reception of the proposal has been highly polarized; it has received 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 have negative financial consequences.