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Saudi Arabia's Jeddah Economic Co. said Monday it was in talks with local Saudi banks to raise funds for the 14-billion-riyal ($3.73 billion) first phase of its Kingdom City project.If completed, the project's more than 1-kilometer-tall Kingdom Tower will replace Dubai's 828-meter Burj Khalifa as the highest in the world.The first phase of the project is over an area of 1.4 million square meters, centered around the Kingdom Tower. The tower is expected to be completed by 2018 and will cost the company 6 billion riyals, Hammoud said.
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