Check it out: This tower in S Arabia will become the world's tallest building soon

Construction of the world’s latest tower will begin in Saudi Arabia next week. Once finished, Kingdom Tower in Jeddahwill stand a staggering 1 km high - over 568 feet taller than current Guinness world recordholder Burj Khalifa in Dubai,which stands at 827 metres.

The Kingdom Tower is estimated to cost a whopping $1.23 billion and would have 200 floors and will overlook the Red Sea.

At over 1,000 meters and a total construction area of5.7 million square feet, Kingdom Tower will be the centerpiece and first construction phase of the Kingdom City development on a 5.3 million-square-meter site in north Jeddah.

Kingdom Tower will feature a Four Seasons hotel, Four Seasons serviced apartments, Class A office space, luxury condominiums and the world’s highest observatory, said its designers Adrian Smith and Gordon Gill Architecturei n a press release.

More from Corporate

Maha: Court orders Rs 30L compensation for parents after youth dies in road accident Ashleigh Barty comes from set down to beat Coco Gauff in Australian Open lead-up

The tower will contain 59 elevators, including 54 single-deck and five double-deck elevators, along with 12 escalators. Those that take visitors to the observatory will travel at 10 metres per second.

Another feature of the design is a sky terrace, roughly 30 meters (98 feet) in diameter.

It is an outdoor amenity space intended for use by the penthouse floor.

The tower is slated to reach completion over a timescale of 63 months, foundation work for which begain in December 2013.

The project is the brainchild of Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, nephew of Saudi Arabia’s King Abdullah and chairman of Kingdom Holding Company, which is a partner in Jeddah Economic Company along with prominent Jeddah businessmen Samaual Bakhsh and Abdulrahman Hassan Sharbatly and Saudi Binladin Group (SBG)

[caption id=“attachment_82713” align=“aligncenter” width=“600”]  Source: Adrian Smith+Gordon Gill[/caption]

[caption id=“attachment_82710” align=“aligncenter” width=“600”]  Source: Adrian Smith+Gordon Gill[/caption]

[caption id=“attachment_82711” align=“aligncenter” width=“600”]  Source: Adrian Smith + Gordon Gill[/caption]

[caption id=“attachment_82712” align=“alignleft” width=“600”]  Source: Adrian Smith+Gordon Gill[/caption]