The Arab peninsula is already dotted by iconic skyscrapers that towering above everything else on the world.

Dubai Tower, renamed as Burj al-Khalifa once it was completed stood at 2300ft or 701 meter is currently the world’s tallest building that dwarf the like of Taipei 101 and Petronas Twin Tower in Kuala Lumpur.

But that didn’t stop the oil-rich Arab countries from splashing their oil-riches on another mega tower project.

In Jeddah, Saudi Arabia – the Sheikhs is planning for a mile-high tower.

At 5,250ft, the £5 billion (RM24 billion) Kingdom Tower project, will be twice as high as its nearest rivals, skyscrapers under construction in Dubai and Kuwait.

At over 1,000 meters and a total construction area of 530,000 square meters (5.7 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.

The tower’s height will be at least 173 meters (568 feet) taller than the world’s current tallest building, Dubai’s 828-meter-tall Burj Khalifa.

Kingdom Tower will feature a Four Seasons hotel, Four Seasons serviced apartments, Class A office space, luxury condominiums and the world’s highest observatory.

The tower will cost approximately $1.2 billion (RM3.5 billion) to construct, while the cost of the entire Kingdom City project is anticipated to be $20 billion (RM59 billion).