Today, Friday, Prince Mohammed bin Salman bin Abdulaziz Al Saud, the Crown Prince of Saudi Arabia, launched the general plan and the main features of the “Central Jeddah” project with a total investment of 75 billion riyals allocated to develop 5.7 million square meters, funded by the Public Investment Fund and investors from within the Kingdom of Saudi Arabia. Saudi Arabia and beyond.
The launch of the general plan of the Downtown Jeddah project comes within the framework of the Crown Prince’s interest in developing all regions and cities of the Kingdom, and in line with the objectives of the Kingdom’s Vision 2030, as the project aims to create a global destination in the heart of Jeddah with direct views of the Red Sea, which contributes to enhancing the economic position of the city of Jeddah.
4 main milestones
The “Central Jeddah” project also aims to achieve an added value to the Kingdom’s economy by 47 billion riyals by 2030, as the project will include four major international landmarks, “an opera house, a museum, a sports stadium, ocean basins and coral farms”, in addition to 10 recreational and tourism projects. The project’s operational work will contribute to opening the way for the local private sector to participate in the development and operation of promising economic sectors “tourist, sports, cultural and entertainment” with international standards, in addition to other sectors that include the construction and development of modern residential areas comprising 17,000 housing units with various hotel projects. It offers more than 2,700 rooms.
The project will also include a world-class marina and stunning beach resorts, in addition to a wide range of luxury local and international hotels, restaurants and cafes, and various shopping options. The project also aims to provide integrated solutions for the business sector.
Modern designs with international standards have been adopted for the project, taking care to apply the elements and components of the urban fabric inspired by the original Hijazi architecture, taking into account the application of the latest global technologies, so that it becomes a “smart destination” that depends on innovative technologies, in addition to adopting the use of the best sustainability technologies, including renewable energy. This will contribute to supporting environmental sustainability in line with the objectives of the Green Saudi Initiative, where more than 500 engineers and consultants participated in the design of the master plan, representing five of the best expertise houses in the world.
The project contributes to achieving the objectives of Vision 2030, which aims to build a prosperous economy and a vibrant society while providing the best lifestyle for residents and visitors. The “Jeddah Downtown” project has multiple natural components, including the waterfront with a water strip of 9.5 km in length, and contains a marina with international specifications ready to receive Yachts from inside and outside the Kingdom, and a sandy beach with a length of 2.1 km.
Green spaces, open spaces and public services will constitute 40% of the project area.
The project is one of the qualitative local investments of the Public Investment Fund, which contributes to diversifying sources of income, advancing the national economy, and creating more job opportunities for the sons and daughters of the country.
It is noteworthy that the company that developed the project, “Central Jeddah Development Company” was established by the Public Investment Fund in 2019, and approved the formation of its board of directors headed by the Crown Prince, which will implement the project in three phases, the first of which will be completed by the end of 2027, to start with it the “Central Jeddah” project in Receiving Jeddah residents and visitors from inside and outside the Kingdom. The company is currently working with all relevant authorities to ensure the implementation of all stages according to the approved time plan.