World biggest tower with 3,280ft skyscraper costing a cool $2billion to be built in Saudi Arabia, as Saudi developer gets Approval and financing

The Saudi developer behind plans for the world's tallest building said Sunday it had secured financing to complete the record-breaking project. Kingdom Holding Co, chaired by billionaire Saudi Prince Alwaleed bin Talal, said its affiliate Jeddah Economic Company had reached a more than $2 billion (1.9 billion euro) financing deal with Saudi Arabia's Alinma Investment to finish the Jeddah Tower in the Red Sea city.

Previously dubbed 'Kingdom Tower', the 170-storey building is to rise more than a kilometre (almost 3,300 feet), surpassing Dubai's Burj Khalifa as the world's highest building.