JCDC signs deal to develop Atlantis, One&Only hotels with over SAR 7B investments

Logo of Jeddah Central Development Co. (JCDC)

Jeddah Central Development Co. (JCDC), a company owned by the Public Investment Fund (PIF), announced signing an investment partnership with Midad Real Estate to develop the Atlantis and One&Only hotels within Jeddah Central destination.

Under this partnership, Midad signed an agreement with Kerzner International, owner of the Atlantis and One&Only brands, to develop and operate the two projects in Jeddah, marking the first presence of these luxury hotel brands in Saudi Arabia, according to the state-run SPA.

The partnership represents a total investment of over SAR 7 billion, highlighting the scale of high-value investments attracted to Jeddah Central.

The Atlantis Jeddah project will feature hotel rooms and luxury branded residences, alongside a water park and integrated entertainment facilities. The One&Only Jeddah resort will include hotel suites and luxury residences, offering a premium beach experience along the Red Sea coast.

The partnership underscores the investment opportunities at Jeddah Central for both local and foreign investors, positioning the destination as a leading hub for high-quality projects that enhance the city’s global tourism profile.

The two projects also support Saudi Arabia’s Vision 2030 goals by diversifying the economy, attracting investment, and creating quality jobs in the tourism and entertainment sectors.