The estimated construction cost of US$1.23 billion, which is less than that of the Burj Khalifa (US$1.5 billion), can be attributed to cheap labor in the Middle East.Over 1000 meters and a total construction area of 530,000 squares meters, Jeddah tower will be the center piece and first construction phase of the $20 Billion Jeddah Economic City development in Jeddah, Saudi Arabia, near the Red Sea.