HRH Crown Prince Launches Revamping Downtown Jeddah Project Plan

It aims to achieve an added value at SR47bln by 2030, to the Kingdom GDP*

HRH Crown Prince Mohammed bin Salman bin Abdulaziz, Chairman of the Board of Directors of the Public Investment Fund (PIF) and Chairman of the Board of Directors of the Central Jeddah Development company, launched the general plan and main features of the Downtown Jeddah revamping project (formerly dubbed as “New Jeddah Downtown”), with a total investment of SR75 billion, allocated to develop 5.7 million square meters, funded by the PIF and investors from inside the Kingdom and abroad.

Launching of such a unique general plan for the Downtown Jeddah project, falls in line with the framework of the Crown Prince’s interest, in developing all regions, and cities of the Kingdom, and in tandem with the objectives of the Kingdom’s Vision 2030, as the project aims to create a global destination, at the heart of Jeddah, with direct panoramic views of the Red Sea, contributing, thus, to enhancing the economic position of the city of Jeddah.

The “Downtown Jeddah” project also aims to achieve an added value to the SR47 billion, by 2030, to the Kingdom GDP, as the project will include four major international landmarks.

They are the following:  An opera house, a museum, a sports stadium, ocean basins and coral farms,” in addition to 10 entertainment and tourism projects. Quality is the ultimate goal, as the 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, such as tourist, sports, culture, entertainment, with internationally recognized class standards, in addition to other sectors that include the construction and development of modern residential areas, comprising 17,000 housing units, with hotelier projects.

The project will also include a world-class marina and stunning beach resorts, in addition to a wide range of luxurious 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, taking full care to apply the elements and components of the urban fabric, inspired by the original Hijazi architecture, as well as taking into account the application of the latest international technologies, so that it becomes a “smart destination” that relies on innovative technologies.

In addition to adopting use of the best practice, in terms of sustainability techniques, including renewable energy, which will contribute to supporting environmental sustainability, in line with the objectives of the Green Saudi Initiative.

The latter, is a project with more than 500 engineers and consultants participated in designing the master plan, representing five of the best renowned expertise houses, in the world.