Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) plans to build a 2-km-high megatall tower as part of an 18-sq-km masterplanned development to the north of Riyadh, said a report by Meed.

The key players involved in the project include US-based designer firms Skidmore, Owings & Merrill (SOM), Adrian Smith & Gordon Gill Architecture, Kohn Pedersen Fox (KPF) and Gensler; 10Design, which is part of France’s construction engineering services group Egis; and Dubai-based Killa Design, stated the report.

The megatall project is expected to come up on an area west of the existing King Khalid International Airport, for which audit group EY had already conducted the feasibility study.

The proposed tower will be more than double the height of the world’s tallest building Burj Khalifa in Dubai, which stands 828-m tall, the report added.

A major global player, PIF had recently secured the largest corporate purpose loan of $17 billion. The seven-year senior unsecured term loan was self-arranged with 25 banks globally across Europe, the US, the Middle East and Asia.

The Saudi wealth fund had also last month unveiled the masterplan for one of the world’s largest airports – King Salman International Airport – in capital Riyadh.