Posted by : Aahil Shaik Friday, December 17, 2021

Saudi Crown Prince launches the Master plan of 75 billion Riyals to develop Jeddah Central 

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Deputy Prime Minister, Chairman of the Board of Directors of the Public Investment Fund and Chairman of the Board of Directors of Central Jeddah Development Company launched a master plan and main features of the "Jeddah Central (New Jeddah Downtown" project, with a total investment of 75 billion riyals allocated to develop 5.7 million square meters, financed by the Public Investment Fund and investors from inside and outside the Kingdom of Saudi Arabia.

The launch of the master plan of Jeddah Central project comes within the framework of Crown Prince’s interest in developing all regions and cities of the Kingdom, and in line with the objectives of the Saudi 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 in improving the economic position of the city of Jeddah.

- The "Jeddah Central" project also aims to achieve an added value to the Kingdom's economy by 47 billion riyals by 2030, as the project will include 4 major international landmarks, "an opera house, a museum, a sports stadium, ocean basins and coral farms", in addition to 10 entertainment and tourism projects. Similar : Oxagon - Largest floating industrial complex in the world

- Quality operational works of the project 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 hotel projects.

- 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 options for shopping. The project also aims to provide integrated solutions for the business sector.

- Contemporary designs have been adopted with international standards for the project, with keenness to apply the elements and components of the urban fabric inspired by the original Hijazi architecture, taking into account the application of the latest international technologies, so that it becomes a “smart destination” based on innovative technologies, in addition to adopting the use of the best sustainability techniques, including renewable energy, which 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 5 of the best expertise houses in the world. See Also : World's first non-profit city

- The project also contributes to achieving the goals of Saudi Vision 2030, which aims to build a prosperous economy and a vibrant society while providing the best lifestyle for residents and visitors, as the "Jeddah Central" 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 prepared 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 Kingdom.

- 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 Saudi Crown Prince. "Central Jeddah" receives Jeddah residents and visitors from inside and outside the Kingdom, and the company is currently working with all relevant authorities to ensure the implementation of all phases according to the approved time plan.

- The company will complete the project in 3 phases, the first of which is set to be finished by the end of year 2027. Follow Saudi Expatriates on imo

Saudi Crown Prince launches the Master plan of 75 billion Riyals to develop Jeddah Central -

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