KHC CEO: Jeddah tower to complete by 2028; flynas to grow 18% in 2026

Talal Al Maiman, CEO of Kingdom Holding and Vice Chairman of flynas

Talal Al Maiman, CEO of Kingdom Holding Co. (KHC) and Vice Chairman of flynas, expects the Jeddah Tower project to complete by 2028.

The construction reached the 85th floor, with a pace of one floor built every five days, he noted, describing the feat as a unique achievement.

In an interview with Al Arabiya TV on the sidelines of the World Economic Forum in Davos, Al Maiman said that KHC is focused on the Saudi market, pointing out that the world’s tallest tower project in Jeddah represents a key investment for the group at this stage.

He confirmed that the company reviews its investments on a daily basis amid geopolitical developments, while continuing to assess investment opportunities in the US, Europe, and China, alongside a focus on opportunities available in the domestic market.

He noted that the company’s investments in China and Saudi Arabia delivered excellent results, expressing optimism about a strong financial year.

He added that the company’s investment in xAI, valued at $800 million in 2024, achieved returns of 328%.

When asked about investment in Syria, Al Maiman stated that the company will participate in the rehabilitation of the Four Seasons Hotel in Syria, in addition to the continued operations of flynas, which is among the largest airlines to have served Syrian airports with its flights, expecting further growth in the coming period.

He also expects flynas’ income, one of the group’s subsidiaries listed on Tadawul, to grow by 16% to 18% in 2026, supported by an increase in the number of aircraft from 68 to 80, and expansion across 170 air corridors and around 80 destinations in more than 40 countries.