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On 21 September 2012, it was announced that financing for the Jeddah Tower was complete. In September 2023, the Middle East Economic Digest (MEED) reported that Jeddah Economic City had restarted the venture and a request for proposals had been issued for a contract to finish the development of the tower. On 2 August 2011, it was publicly introduced by Kingdom Holding, the investment company, that a contract had been signed by Saudi Binladin Group (SBG), that development was going to start out soon, and that the tower was expected to take 63 months to complete. September 2023, a new request for proposals was issued to a multinational group of building companies to complete the challenge. Strahler, Steven R. (20 September 2023). "Chicago architect eyes restart of long-stalled tallest tower on this planet". Bulos, Nabih (12 January 2023). "Saudi Arabia is giving itself an extreme makeover with 'giga-tasks.' Will it work?". Fakharany, Nour (four October 2023). "World's Tallest Skyscraper Resumes Construction After a 5-Year Hiatus in Jeddah, Saudi Arabia". Blair Kamin (22 October 2010). "Saudi mega-tower designed by Chicago architects moving forward".

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