Jeddah Central Development Company
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Jeddah Central Development Company (JCDC; ) is an
urban Urban means "related to a city". In that sense, the term may refer to: * Urban area, geographical area distinct from rural areas * Urban culture, the culture of towns and cities Urban may also refer to: General * Urban (name), a list of people ...
and
real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parce ...
company based in
Jeddah Jeddah ( ), alternatively transliterated as Jedda, Jiddah or Jidda ( ; , ), is a List of governorates of Saudi Arabia, governorate and the largest city in Mecca Province, Saudi Arabia, and the country's second largest city after Riyadh, located ...
,
Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area of about , making it the List of Asian countries ...
. The company was founded in December 2021 by
Crown Prince A crown prince or hereditary prince is the heir apparent to the throne in a royal or imperial monarchy. The female form of the title, crown princess, is held by a woman who is heir apparent or is married to the heir apparent. ''Crown prince ...
Mohammed bin Salman Mohammed bin Salman Al Saud (; born 31 August 1985), also known as MBS or MbS, is the ''de facto'' ruler of the Saudi Arabia, Kingdom of Saudi Arabia, formally serving as Crown Prince of Saudi Arabia, Crown Prince and Prime Minister of Sa ...
as part of
Saudi Vision 2030 Saudi Vision 2030 (, sometimes called Project 2030) is a government program launched by Saudi Arabia which aims to achieve the goal of increased diversification economically, socially, and culturally, in line with the vision of Saudi crown pri ...
. JCDC is owned by the
Public Investment Fund The Public Investment Fund (PIF; ) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of billion. It was created in 1971 for the purpose of investing funds on be ...
. The company is responsible for the development of the $20 billion
Jeddah Central Jeddah Central () is a real-estate development project under construction in Jeddah, Saudi Arabia. Jeddah Central project is developed by Jeddah Central Development Company (JCDC), one of companies founded by the Saudi Public Investment Fund. The ...
project.


History

JCDC was officially launched by
Mohammed bin Salman Mohammed bin Salman Al Saud (; born 31 August 1985), also known as MBS or MbS, is the ''de facto'' ruler of the Saudi Arabia, Kingdom of Saudi Arabia, formally serving as Crown Prince of Saudi Arabia, Crown Prince and Prime Minister of Sa ...
on 17 December 2021 as part of
Saudi Vision 2030 Saudi Vision 2030 (, sometimes called Project 2030) is a government program launched by Saudi Arabia which aims to achieve the goal of increased diversification economically, socially, and culturally, in line with the vision of Saudi crown pri ...
plan to diversify the
Saudi Economy The economy of Saudi Arabia is highly reliant on its petroleum sector. Oil accounts for approximately 30% of Saudi GDP and 55% of government revenue, with substantial fluctuations depending on oil prices each year. The kingdom has the seco ...
away from
oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) and lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturate ...
.


Projects


Jeddah Central

In September 2023, Jeddah Central Development Company launched
Jeddah Central Jeddah Central () is a real-estate development project under construction in Jeddah, Saudi Arabia. Jeddah Central project is developed by Jeddah Central Development Company (JCDC), one of companies founded by the Saudi Public Investment Fund. The ...
, a $20 billion project to develop central
Jeddah Jeddah ( ), alternatively transliterated as Jedda, Jiddah or Jidda ( ; , ), is a List of governorates of Saudi Arabia, governorate and the largest city in Mecca Province, Saudi Arabia, and the country's second largest city after Riyadh, located ...
. The project spans over an area of 5.7 km2 and includes 4 main landmarks, which are: a
stadium A stadium (: stadiums or stadia) is a place or venue for (mostly) outdoor sports, concerts, or other events and consists of a field or stage completely or partially surrounded by a tiered structure designed to allow spectators to stand or sit ...
,
museum A museum is an institution dedicated to displaying or Preservation (library and archive), preserving culturally or scientifically significant objects. Many museums have exhibitions of these objects on public display, and some have private colle ...
,
oceanarium An oceanarium can be either a marine mammal park, such as Marineland of Canada, or a large-scale Public aquarium, aquarium, such as the Lisbon Oceanarium, presenting an ocean habitat with marine (ocean), marine animals, especially large ocean dwe ...
and
opera house An opera house is a theater building used for performances of opera. Like many theaters, it usually includes a stage, an orchestra pit, audience seating, backstage facilities for costumes and building sets, as well as offices for the institut ...
. The stadium is expected to host both
2027 AFC Asian Cup The 2027 AFC Asian Cup will be the 19th edition of the AFC Asian Cup, the quadrennial international men's association football, football championship of Asia organised by the Asian Football Confederation (AFC). The tournament involves 24 nationa ...
and
2034 FIFA World Cup The 2034 FIFA World Cup will be the 25th FIFA World Cup, a quadrennial international Association football, football tournament contested by the List of men's national association football teams, men's national teams of the member associations of ...
.


See also

* List of Saudi Vision 2030 Projects *
Saudi Vision 2030 Saudi Vision 2030 (, sometimes called Project 2030) is a government program launched by Saudi Arabia which aims to achieve the goal of increased diversification economically, socially, and culturally, in line with the vision of Saudi crown pri ...
* Al Balad Development Company * Soudah Development Company *
Al-Ula Development Company Al-Ula Development Company (UDC; ) is a Hospitality industry, hospitality and real estate development company based in Al-Ula, Saudi Arabia. The company was founded in January 2023 by the Public Investment Fund as part of Saudi Vision 2030. The ...


References


External links


Official Website (English)
{{Saudi Arabia topics Business organisations based in Saudi Arabia Public Investment Fund