Saudi Prince Alwaleed bin Talal wants to build a mile-high skyscraper and is looking for a major city to host the tower. Alwaleed has asked Emaar Properties, a real estate developer in the United Arab Emirates, to join his investment firm Kingdom Holding in developing the project. "I am now inviting the major cities of the world like Shanghai, Moscow, New York, London and regional cities in the Middle East to come and give their offers," Alwaleed said. Offers would need to include tax incentives and favorable financing terms, he said.

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