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NEED TO KNOWThe Jeddah Tower has surpassed the height of New York City's Central Park TowerThe Saudi Arabia skyscraper, which could be completed by August 2028, is planned to reach 3,280 feetThe structure will contain residential, commercial and office spaces, plus a luxury hotel and observation deckThe Jeddah Tower has reached another major milestone. John Peronto, the engineer and project manager for the future tallest building in the world, located in Jeddah, Saudi Arabia, told Newsweek on Tuesday, Oct. 6 that the tower "has now surpassed the world's tallest all-residential tower, Central Park Tower, and is nearing 500 meters [over 1,640 feet]. "Central Park Tower, located in New York City, stands at 1,550 feet. Credit: Amel Pain/EPA-EFE/ShutterstockThe Jeddah Tower, designed by Adrian Smith + Gordon Gill Architecture, is intended to stand at more than twice the height of Central Park Tower when complete, at 3,280 feet, PEOPLE previously reported. At that height, the Jeddah Tower will also surpass that of the Burj Khalifa in Dubai, which currently holds the record for the world's tallest building at 2,717 feet by a large margin.