The project will open the Jeddah Central destination to receive visitors at the end of 2027
The Jeddah Central Development, a company (JCDC) owned by the Public Investment Fund (PIF), has signed four construction contracts worth SAR12 billion for three major architectural landmarks, including the Stadium, the Opera House, and the Oceanarium, besides the infrastructure construction work for the first phase of the Jeddah Central destination.
The Jeddah Central Development Company is a PIF-owned developer, mandated with redeveloping Saudi Arabia’s historic city. The JCDC destination will include several diverse architectural landmarks such as the Stadium, the Opera House, the Oceanarium, and several facilities, to list a few a sandy beach, a pier, a seafront promenade, and a marina.
Read more: Aramco Boosts its VC Program with US$4 Billion Injection
The First Phase
The CEO of the Jeddah Central Development Company, Eng. Ahmed bin Abdulaziz Al-Saleem, said during a ceremony held on Tuesday, that the construction work for the main architectural landmarks and infrastructure for the first phase will begin according to a timeline to accomplish the projects following the best international practices. The JCDC will open the Jeddah Central destination to receive visitors at the end of 2027 from inside and outside the Kingdom.
The Stadium will be a multi-purpose venue that can host various sports and entertainment events, with a capacity of 50,000 spectators. The Opera House will be a cultural and artistic hub that can accommodate 2,000 visitors, featuring a main hall, a small hall, a rehearsal hall, and a museum. The Oceanarium will be a marine life attraction that will showcase the biodiversity of the Red Sea, with a total area of 36,000 square meters.
Read more: Saudi Arabia Just Landed a $45 Million Gaming Sector Deal
The Jeddah Central destination is part of the PIF’s efforts to diversify the Saudi economy with attention to enhancing its citizens’ and residents’ quality of life. The project is also expected to create many direct and indirect jobs and eventually contribute positively to the GDP by 2030.
Moreover, JCDC is collaborating with other PIF-owned companies, such as Al Balad Development Company, and Marafy, to coordinate and integrate the development plans for the city of Jeddah, and to create a unique and attractive destination that certainly reflects the cultural and historical identity of the city.
