Project Rise has entered a new construction phase as Riyadh seeks contractor feedback for its proposed megatall structure. The Saudi Public Investment Fund (PIF) has approached experienced international and local contractors. The market-sounding exercise will help assess contractor interest and construction requirements. It also signals progress toward delivering one of the world’s most ambitious skyscrapers.
The proposed building will rise about 2 kilometers above northern Riyadh. It forms the centerpiece of a new central business district on the city’s outskirts. The district and tower sit within the larger North Pole masterplanned development.
Project Rise advances contractor engagement
PIF subsidiary Tower District Real Estate Development Company is leading the contractor engagement process. Several international contractors and prominent Saudi contractors have reportedly received approaches.
The exercise follows earlier procurement activity for project management consultancy services. PIF received offers in June 2025 for the PMC role covering the tower and surrounding district.
The earlier process involved several major engineering and construction management firms. These included Aecom, Jacobs, Parsons, Turner and Mace.
Meanwhile, Foster & Partners remains the project’s architect. The UK-based practice won the design competition launched in late 2022.
Contractor engagement now provides another indication of the project’s development pathway. However, the current exercise does not represent a construction contract award.
Project Rise sets unprecedented construction scale
The proposed tower would more than double the height of Dubai’s Burj Khalifa. The Burj Khalifa currently stands at 828 meters.
It would also rise several hundred meters above the 1,000-metre-plus tower under construction in Jeddah. Consequently, Project Rise would establish a new benchmark for vertical construction if completed as planned.
Regional contractors with experience pricing megatall projects estimate construction could cost approximately $5 billion. However, the figure depends on the final design and engineering requirements.
At this height, the project will require highly specialized structural, vertical transportation and building-services solutions. Construction logistics will also present major challenges across foundations, materials handling and high-level work.
The tower will anchor a central business district rather than operate as an isolated skyscraper. Therefore, surrounding infrastructure and district development will form part of the wider delivery challenge.
The scheme also adds another record-breaking tower to Saudi Arabia’s expanding construction pipeline. Its scale reflects Riyadh’s continued development of major urban and commercial destinations.
Project Rise construction forms North Pole centerpiece
Project Rise includes the 2km tower and its surrounding central business district. The development forms part of North Pole, a larger masterplanned development north of Riyadh.
The latest contractor engagement builds on the project’s earlier PMC procurement. It therefore provides a clearer picture of the project’s progression from design toward delivery.
Nevertheless, the current information does not identify a preferred contractor or confirmed construction start date. The reported $5bn figure also remains an industry estimate rather than an awarded project value.
The next procurement stages could clarify the construction strategy, delivery structure and final project scope.
Project Fact Sheet
Name: Project Rise.
Type: Proposed megatall tower and central business district.
Location: North of Riyadh, Saudi Arabia.
Tower height: Approximately 2 kilometers.
Estimated construction cost: About $5 billion, depending on final design.
Development scale: The tower would exceed 2,000 meters.
Wider development: North Pole masterplanned development.
District component: New central business district surrounding the tower.
Current status: Contractor market-sounding exercise.
Procurement status: Contractors have been approached, but no construction award has been announced.
Earlier procurement: PMC offers were received in June 2025.
Height comparison: More than twice the 828-metre Burj Khalifa.
Regional comparison: Expected to exceed the 1,000-metre-plus Jeddah Tower.
Design competition: Launched in late 2022.
Expected significance: Potentially the world’s tallest building if constructed at the proposed height.
Project Team
Developer: Tower District Real Estate Development Company.
Owner/Backer: Public Investment Fund (PIF).
Architect: Foster + Partners.
Project Management Consultant: Not yet confirmed.
Main Contractor: Not yet officially appointed.
Structural Engineer: Not yet confirmed.
MEP Consultant: Not yet confirmed.
Leave a Reply