Jeddah Central Development Company (JCDC) is a government company established in 2019 in the Kingdom of Saudi Arabia. It is wholly owned by the Public Investment Fund (PIF), and it supervises the development and operation of the Jeddah Central Project, which overlooks the Red Sea coast, reinforcing the Kingdom's position as a tourist country and creating a world-renowned destination at the heart of Jeddah Province.
Establishment of the Jeddah Central Development Company
The JCDC is chaired by the Crown Prince, Prime Minister, and Chairman of the Board of Directors of the PIF, His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz Al Saud. On December 17, 2021, the crown prince launched the master plan and announced the main landmarks of the Jeddah Central Project, which is funded by both the PIF and investors from inside and outside of Saudi Arabia.
A total investment of approximately SAR75 billion has been dedicated to the project, which will be developed over an area spanning 5.7 million m. The project was designed by 500 engineers and consultants from five global design firms and will be implemented in three phases: the first of which will be completed by the end of 2027, the second in 2030, and the third will be after 2030.
Jeddah Central Project Objectives
The Jeddah Central Project will improve the city's economic role and create SAR47 billion of added value for the Saudi economy by 2030. This will be achieved by developing several vital sectors, including tourism, sports, and entertainment. The project also features four world-class landmarks: an opera house, a museum, and a sport stadium, in addition to oceanariums and coral farms.
Jeddah Central Project Landmarks
The Jeddah Central Project includes four main landmarks. The first is the Oceanarium and Coral Farms, while the second is the Opera House, which includes public performance venues and rehearsal studios. The third is the Sports Stadium built in a traditional architectural style drawn from Jeddah's heritage. These three landmarks will be implemented in the first phase, which accounts for 45% of the project. The fourth landmark is the Jeddah Central Museum, and it will be implemented in the second phase of the project. This museum will represent the region's historical and cultural heritage and embody Jeddah's history and its relationship with the Red Sea.
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