The upcoming Jeddah Central Project (previously known as New Jeddah Downtown) is slated to be a ‘world-class’ destination overlooking the Red Sea.

Developed by Jeddah Central Development Company, the project has been divided into three phases, the first of which is set to be finished by the end of 2027.

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, 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, recently launched the master plan of the project.

The SAR75bn Jeddah Central Project will cover 5.7mn sq m of land overlooking the Red Sea, and it will be financed by the Public Investment Fund, as well as local and international investors.

The project will have four notable landmarks, including an opera house, museum, sports stadium, and  oceanarium.

It will also have modern residential areas, encompassing 17,000 residential units and diversified hotel projects that offer more than 2,700 hotel rooms, and the provision of integrated solutions for the business sector.

In addition to these, the project will feature a world-class marina and stunning beach resorts, as well as restaurants and cafes, and diverse shopping options.

The Jeddah Central Project is expected to achieve an estimated added value of SAR47bn for the kingdom's economy by 2030, a press statement said. 

"It will open the way for the local private sector to participate in the country's development, which will help shape the operations of economic sectors like tourism, entertainment, culture, and sports," the statement said.

The release stated that the project will reflect the essence of the historical city of Hijazi in a contemporary way and will be designed to the highest international standards

It will apply the latest technologies to transform Jeddah into a ‘smart destination', in addition to adopting world-class sustainability programmes to support the environment, in line with the objectives of the Saudi Green Initiative. 

More than 500 expert engineers and consultants from five design houses participated in the development of the master plan.

The project contributes to achieving the objectives of Saudi’s Vision 2030, which aims to build a prosperous economy and a vibrant society while providing the best lifestyle for residents and visitors. 

The waterfront of the project is 9.5km long and includes a promenade, a marina to host local and international yachts, and a 2.1km long beach. 

Open spaces and public services will make up 40% of the project area, with the provision of designated walking areas to create a walkable environment.

Jeddah Central Development Company was established in 2019 by the Public Investment Fund. Its board of directors is headed by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud.

Following the completion of phase 1, the project will start welcoming both local and international investors.