Sunday, February 11, 2024
The Jeddah Central Development Company has achieved a pivotal milestone by finalizing four contracts valued at SAR 12 billion. These contracts are for the construction of three marquee structures: the Stadium, the Opera House, and the Oceanarium, in addition to laying down the infrastructure for the Jeddah Central project’s initial phase.
In a notable ceremony, Ahmed bin Abdulaziz Al-Saleem, the company’s CEO, announced the commencement of these landmark projects and the foundational work for the first phase. He emphasized the commitment to progress these projects on a strict timeline, aiming to meet the highest international standards.
Set to inaugurate by the end of 2027, the Jeddah Central will emerge as a magnet for visitors, featuring an array of architectural marvels along with amenities like a sandy beach, a pier, a seafront promenade, and a marina.
Under the ownership of the Public Investment Fund (PIF), the Jeddah Central Development Company is tasked with the comprehensive makeover of Jeddah, a city steeped in history in Saudi Arabia. The company’s objectives include enhancing the urban infrastructure, renovating the historic buildings in Al Balad, and developing a mix of services and spaces for leisure, residential, commercial, hospitality, and office use.
Spanning approximately 2.5 million square meters for development, the project will result in a total built-up area of around 3.7 million square meters. It envisages the creation of 9,300 residential units, 1,800 hotel units, and close to 1.3 million square meters dedicated to commercial and office spaces.
Additionally, the Jeddah Economic Company (JEC) has recommenced the construction of the Jeddah Tower, aspiring to become the world’s tallest skyscraper, with the project resuming in September of the previous year.
The design and engineering of this towering structure are led by the renowned Adrian Smith + Gordon Gill Architecture from the US for its architectural aspects, and Dar al-Handasah (Shair & Partners) from Lebanon for engineering consultancy. The JEC is a collaborative venture involving Kingdom Holding Company, Bakhsh Group, and Sharbatly Group, holding stakes of 40%, 40%, and 20% respectively.
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