LONDON, England (CNN) -- Saudi Prince and billionaire Al-Waleed bin Talal says he will build the world's tallest building,  planned to be over a kilometer (3,281 feet) high. The tower will be built in the Saudi town of Jeddah and will be part of a larger project that will cost $26.7 billion, (100 billion Saudi riyals) said the Prince's firm, Kingdom Holding Company. The planned Kingdom City project will be taller than Burj Dubai tower which is the world's tallest man-made structure. The project, entitled Kingdom City, will span 23 million square meters (248 million square feet) and will include luxury homes, hotels and offices.
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A new generation of skyscrapers are being planned for cities around the world
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Nakheel Tower and Kingdom City will reach over a kilometer in height
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In Paris, a law limiting building height has been overturned to allow skyscrapers
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In the U.S. the Chicago Spire and Freedom Tower have spectacular designs
While the ever-growing Burj Dubai is already the tallest man-made structure in the world, the @placeholder is set to go even higher.