Nov 05 2008 |
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Historic Jeddah to get SR3.5bn facelift
JEDDAH: The downtown Balad area of Jeddah is to get a huge SR3.5 billion facelift starting Feb. 1. News of the regeneration project was revealed at the Land and Real Estate Owners Meeting held on Monday night at the Laylati Hall in Jeddah.Makkah Gov. Prince Khaled Al-Faisal attended the meeting and met companies behind the project, including the Urban Development Co. Ltd. (UDC) , Solidere International Ltd., Siraj Capital and Venture Capital Bank .
Ghassan Ahmad Al-Sulaiman, chairman of the Jeddah Central District Company that will be leading the project, said landowners would not be coerced into joining the project.
"The heart of Jeddah will beat again through these development plans which are in line with the government's future vision for the city," he said.
The prince also urged developers and citizens to participate in what he referred to as a "golden chance" in making the Kingdom a "first world country."
As part of the project, the old city will be divided into two major zones -- a waterfront area and a historic area. Developments will in future extend to the outskirts of the historic zone. The historic area would be preserved and developed for coming generations.
By Sultan Al-Tamimi
© Arab News 2008
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