The kingdom’s latest tourism development is expected to contribute US$12 billion to its economy by 2030
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince – also Deputy Prime Minister, Chairman of the Board of Directors of the Public Investment Fund and Chairman of the Board of Directors of Jeddah Central Development Company – has revealed the master plan and main features of the Jeddah Central Project.
The SR75 billion (US$20 billion) project will be built on 5.7 square kilometres of land overlooking the Red Sea and is part of HRH the Crown Prince’s efforts to develop Jeddah into a world-class destination and strengthen its economy.
The Jeddah Central Project will include four landmarks: an opera house, a museum, a sports stadium and an ‘oceanarium’. The goal of each venue is to contribute to the growth of tourism, entertainment, culture and sports.
The development will also feature modern residential areas, encompassing 17,000 units, and hotels featuring more than 2,700 hotel rooms. Facilities will include a marina, as well as restaurants, cafes and retail outlets.
In line with the objectives of the Saudi Green Initiative, the project has adopted sustainability programmes to contribute to supporting the environment. Open spaces make up 40% of the project area, with the provision of designated walking areas to create a walkable environment.
The project’s developer, Jeddah Central Development Company, was established in 2019 by the Public Investment Fund. The project will be completed in three phases, the first of which is set to be finished by the end of 2027.