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Jeddah Central Development Company

From Wikipedia, the free encyclopedia

Jeddah Central Development Company
Native name
شركة وسط جدة للتطوير
Company typePrivate
IndustryUrban development
Real estate development
Founded17 December 2021; 2 years ago (2021-12-17)[1]
FounderMohammed bin Salman
Headquarters
Jeddah
,
Saudi Arabia
Key people
[2]
OwnerPublic Investment Fund
SubsidiariesJeddah Central
Websitewww.jeddahcentral.com

Jeddah Central Development Company (JCDC; Arabic: شركة وسط جدة للتطوير) is an urban and real estate development company based in Jeddah, Saudi Arabia. The company was founded in December 2021 by Crown Prince Mohammed bin Salman as part of Saudi Vision 2030. JCDC is owned by the Public Investment Fund.[3] The company is responsible for the development of the $20 billion Jeddah Central project.[4]

History

JCDC was officially launched by Mohammed bin Salman on 17 December 2021 as part of Saudi Vision 2030 plan to diversify the Saudi Economy away from oil.[5]

Projects

Jeddah Central

Main article: Jeddah Central

In September 2023, Jeddah Central Development Company launched Jeddah Central, a $20 billion project to develop central Jeddah. The project spans over an area of 5.7 km2 and includes 4 main landmarks, which are: a stadium, museum, oceanarium and opera house.[6] The stadium is expected to host both 2027 AFC Asian Cup and 2034 FIFA World Cup.[7]

See also

References

  1. ^ "Saudi Crown Prince launches SR75bn master plan to develop Jeddah Central". Saudi Gazette. 17 December 2023. Retrieved 16 March 2024.
  2. ^ "Jeddah Central Development Company". jeddahcentral.com. Jeddah Central Development Company. 24 February 2023. Retrieved 16 March 2024.
  3. ^ "Crown Prince launches Jeddah Downtown $20bn master development plan". Arab News. 17 December 2021. Retrieved 16 March 2024.
  4. ^ Denman, Selina (17 December 2021). "Ambitious masterplan for 5.7 million-square-metre Jeddah Central Project unveiled". The National News. Retrieved 16 March 2024.
  5. ^ "Saudi crown prince launches Jeddah Central Project -state news agency". Reuters. 17 December 2021. Retrieved 12 February 2024.
  6. ^ Sambidge, Andrew (18 December 2023). "Saudi Crown Prince unveils $20bn plan to transform Jeddah". Arabian Business. Retrieved 16 March 2024.
  7. ^ Nair, Sarangi (2 February 2024). "Central Jeddah Stadium, with a cubic design, to open in Saudi Arabia by 2030". Parametric Architecture. Retrieved 16 March 2024.

External links

This page was last edited on 1 May 2024, at 09:40
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