17 th of September of this year, 2007, the fifth of Ramadan 1428 e profile Kingdom Holding Company chaired by His Royal Highness Prince Al-Waleed bin Talal on the hiring company Bechtel couple to oversee the building project Jeddah giant to invest $ 50 billion rials The tower is rising 1600 m more than a kilo and a half and will be called (Tower miles) north of the city and will be held in Jeddah on the ground more than two million square meters and will cost the project upon completing the full 50 billion riyals .