Logo of The Jeddah Central Development Co. (JCDC)
The Jeddah Central Development Co. (JCDC), the master developer of the Jeddah Central Project and a wholly-owned subsidiary of the Public Investment Fund (PIF), signed a contract to commence the construction works of the project, Saudi Press Agency reported.
In a statement, the developer stated that the contract includes the implementation of infrastructure and marine works, as well as the removal of the existing 400 buildings and infrastructure at the first stage. The project also includes re-shifting the infrastructure services, which include electrical ground installations, as well as sewage and water supply pipes over 6.5 km.
In December 2021, Saudi Crown Prince Mohammed bin Salman launched the master plan and main features of Jeddah Central project, at a total investment value of SAR 75 billion. These investments were allocated for the development of 5.7 million square meters (sqm) to create a world-class destination in Jeddah, financed PIF as well as local and foreign investors, according to data available with Argaam.
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