Jeddah signs landmark construction deals worth US$3.2 billion
07 February 2024
A public investment firm-backed firm has signed a contract worth SR12bn (US$3.2 billion) to construct major landmarks in Jeddah.
The Jeddah Central Development Company will be responsible for building three significant architectural landmarks, including a stadium, opera house and oceanarium.
Alongside this, the company is also responsible for the construction of infrastructure for the first phase of the Jeddah Central destination, according to a report by the Saudi Press Agency.
The Jeddah Central destination will open to visitors at the end of 2027 and will include several diverse architectural landmarks, in addition to a number of facilities such as a sandy beach, a pier, a seafront promenade, and a marina.
During a recently held ceremony, CEO Ahmed Al-Saleem of Jeddah Central Development Co. announced the immediate construction of landmarks and framework for the initial phase.