Will Jeddah Central’s unveiling of major Saudi contracts boost tourism?

Wednesday, February 7, 2024

The Jeddah Central Development Company has reached a crucial juncture by securing four contracts, together worth SAR12bn, for the erection of three significant architectural wonders: the Stadium, the Opera House, and the Oceanarium, as well as the infrastructure for the initial phase of the Jeddah Central project.

In a ceremony, Ahmed bin Abdulaziz Al-Saleem, the Chief Executive of the Jeddah Central Development Company, declared the start of construction on these landmark structures and the infrastructure for the first stage. He stressed the intention for these projects to advance according to a predetermined timetable, with aspirations to adhere to the utmost international standards.

Anticipated to open its doors by the end of 2027, the Jeddah Central destination is poised to attract visitors, boasting a collection of architectural splendours in addition to a variety of facilities such as a sandy beach, a pier, a seafront promenade, and a marina.

Owned by the Public Investment Fund (PIF), the Jeddah Central Development Company is charged with the extensive redevelopment of Jeddah, a historic city in Saudi Arabia. The firm’s goals involve improving the city’s infrastructure, overseeing the refurbishment of historic buildings in Al Balad, and cultivating a blend of services, leisure, residential, commercial, hospitality, and office spaces.

Covering a development area of roughly 2.5 million square metres, the project will generate a total constructed area of about 3.7 million square metres. This comprehensive scheme includes the creation of 9,300 residential units, 1,800 hotel units, and nearly 1.3 million square metres allocated for commercial and office spaces.

Moreover, the Jeddah Economic Company (JEC) has resumed construction on the Jeddah Tower, set to be the tallest skyscraper globally, with the project rebooting in September of the preceding year.

The architectural and engineering facets of this monumental edifice are managed by the esteemed US-based Adrian Smith and Gordon Gill for architectural design, and Dar al-Handasah (Shair & Partners) from Lebanon as the engineering consultant. The JEC operates as a joint enterprise, with Kingdom Holding Company, Bakhsh Group, and Sharbatly Group holding shares of 40%, 40%, and 20% respectively.

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