al-Hasani
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Its ok having beautiful towers and building , but time has change, even in US and Europe they are not making such skyscraper .As far as Al waleed , he is good businessman and has good team of US and European partner, but he is not industrialist . He invest the money in foreign ventures , but physically nobody is bring anything on home ground. Hope you are understanding my point.
It's not just a skyscraper. It is much more than that. The skyscraper will create thousands of jobs, tourism, publicity and is potentially a landmark that will pay itself and give profit for decades to come. Besides it will be part of the Kingdom City.
https://en.wikipedia.org/wiki/Kingdom_City_(Jeddah)
People will always arrive to Jeddah since that is the transit city before people perform hajj in Makkah and Madinah. Besides Jeddah and the area is the biggest and most populous area in KSA and strategically important and the most cosmopolitan city in KSA.
They are making skyscrapers. Just not such projects because they are financially doing badly. During their heydays they were busy building and expanding everywhere. When you have the money you will use them. Otherwise when would you use your money then? They are to be used.
It is mainly the work of the Kingdom Holding Company.
Look, skyscrapers in KSA are very sparse. In fact only Riyadh are getting started on that department. Then compare it to China where skyscrapers are being built every single month.
Skyscrapers are a symbol of wealth. Look, I love ancient architecture such as the Yemeni world famous one and the Arabian one (still found largely in KSA) etc. but we live in a new world.