The club has started talks on upgrading the 60,000-seat stadium.
The office complex in Upper Hill will be known as Tanzania Towers.
The funds will build a new office tower and furnish an existing one.
The project will be funded through Korea Exim Bank.
Jeddah Tower will be taller than Dubai’s Burj Khalifa by 180 metres.
The megacity is now expected to span just 2.4 kilometres by 2030.
The US firm had signed a deal with Kenya for the mRNA vaccine facility.