Jeddah Central plan based on demand-supply analysis, first phase completion in 2027: CEO

Jeddah Central Development Co. CEO Ahmed Al Sulaim

Planning for Jeddah Central project started with studying the supply and demand in the market, as well as identifying the categories of assets, such as housing, guest houses, offices and restaurants, Al Arabiya TV reported, citing Jeddah Central Development Co. CEO Ahmed Al Sulaim.

The planning also includes identifying the financial model upon which the project will be designed.

The first phase will be completed in 2027, and the second phase will start before the end of the first phase, the CEO said.

He added that work on the second phase will reach its peak in 2027, while securing entrances for visitors to enjoy the work completed of the first phase.

The project aims to create a promising tourism industry in the center of Jeddah, through providing architectural landmarks for all classes of society, Al Sulaim said.

Saudi Crown Prince Mohammed bin Salman launched the master plan and main features of Jeddah Central project (formerly New Jeddah Downtown) at a total investment value of SAR 75 billion, Argaam earlier reported.