The first stage of the – one kilometer- high- Jeddah Tower, set to be the world’s tallest building, is due by 2019 after financial issues with contractor Saudi Binladin Group (SBG) were resolved, Saudi Gazette reports.

Speaking to the press at the project’s construction site on the 28th floor of Jeddah Tower, Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company, confirms that the Jeddah Tower is going to be the tallest in the world despite the recent announcement of Dubai building the tallest tower in the world.

“It is a solid, concrete building unlike the one announced in Dubai, which is considered a skeleton. This is why our tower will be the tallest in the world,” he says.

Bin Talal adds that the final height of the building will not be revealed even to project partners until six months before its completion, when the size of the spire at the top will also be revealed. The Saudi prince also points out that the tower is expected to progress slowly and steadily. “Construction of the Jeddah Tower will rely on cutting-edge technology, including the high-strength reinforced concrete and the pumps used to elevate it to record heights,” he says.