Saudi Arabia is moving forward with its ambitious plan to build the world's tallest skyscraper, a project backed by billionaire Prince Alwaleed bin Talal. Kingdom Holding, owned by the prince, announced the resumption of construction on the Jeddah Tower, which will reach a height of 1,000 meters when completed. This tower, designed by American architect Adrian Smith to resemble a desert plant, will feature a Four Seasons hotel, luxury apartments, offices, and the world’s highest observation deck on the 157th floor. After years of delays due to funding issues, developers now estimate it will take 42 months to complete the remaining floors.

The project is part of a larger economic development plan for Jeddah, which includes a mix of offices, homes, retail, and hospitality. Jeddah Economic Company, an associate firm of Kingdom Holding, has signed a 7.2 billion riyal ($2.5 billion) deal with Saudi Binladin Group to complete the construction. Once finished, the tower will surpass Dubai’s Burj Khalifa, the current record holder, standing at 828 meters. The tower will also join an elite group of mega-tall skyscrapers, which currently includes only four other buildings around the world.