On Friday, Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud launched the master plan and key features for the "Central Jeddah" project, which has a total investment of 75 billion riyals allocated for the development of 5.7 million square meters, funded by the Public Investment Fund and investors from within and outside Saudi Arabia. This launch aligns with the Crown Prince's interest in developing all regions and cities of the Kingdom and is in harmony with the goals of Saudi Vision 2030. The project aims to create a global destination in the heart of Jeddah with a direct view of the Red Sea, contributing to enhancing the economic status of Jeddah.
### Four Major Landmarks
The "Central Jeddah" project aims to add 47 billion riyals to the Kingdom's economy by 2030 and will include four major global landmarks: an opera house, a museum, a sports stadium, and ocean pools with coral farms, in addition to 10 quality entertainment and tourism projects. The operational activities of the project will open opportunities for the local private sector to participate in the development and operation of promising economic sectors—tourism, sports, culture, and entertainment—according to international standards. Other sectors include the construction and development of modern residential areas that will include 17,000 housing units and various hotel projects providing more than 2,700 rooms.
The project will also feature a world-class marina and stunning beachfront resorts, along with a large selection of luxury local and international hotels, restaurants, and cafes, and diverse shopping options, as well as integrated business sector solutions. Modern designs with international standards have been approved for the project, focusing on applying elements and components inspired by traditional Hijazi architecture while incorporating the latest global technologies, making it a "smart destination" reliant on innovative technologies. Furthermore, the project will utilize the best sustainability techniques, including renewable energy, supporting environmental sustainability in line with the goals of the Saudi Green Initiative. More than 500 engineers and consultants from five of the world's leading expertise firms participated in designing the master plan.
The project contributes to achieving the goals of Vision 2030 aimed at building a prosperous economy and a vibrant society, providing the best lifestyle for residents and visitors. The "Central Jeddah" project boasts various natural features, including a 9.5 km waterfront, equipped with a world-class marina to accommodate yachts from within and outside the Kingdom, and a sandy beach spanning 2.1 km. Green spaces, open areas, and public services will account for 40% of the project's area.
### Public Investment Fund
This project is one of the quality domestic investments by the Public Investment Fund, which contributes to diversifying income sources, driving the national economy, and creating more job opportunities for the nation's youth. The development company for the project, "Central Jeddah Development Company," was established by the Public Investment Fund in 2019 and its board of directors was approved with the Crown Prince as chairman. The project will be implemented in three phases, with the first phase expected to be completed by the end of 2027, at which point "Central Jeddah" will begin welcoming residents and visitors from within and outside the Kingdom. The company is currently working with all relevant authorities to ensure that all phases are executed according to the approved timeline.
