Riyadh: Saudi Arabia's Jeddah Central Development Company (JCDC), a wholly owned company of the Public Investment Fund (PIF) and the developer of Jeddah Central Project, concluded its participation at the 22nd edition of the World Travel and Tourism Council (WTTC) Global Summit, which was hosted from November 28 to December 1, 2022, at King Abdul Aziz International Conference Center in Riyadh.
Themed "Travel for a Better Future," the summit's guest list featured senior officials and pioneers of Travel and Tourism, including the former Secretary-General of the United Nations, Ban Ki-moon. In addition to special delegates, WTTC covered different topics ranging from the challenges affecting the Travel and Tourism sector after the pandemic to the building of cities of tomorrow.
Eng. Ahmed Al-Sulaim, CEO of Jeddah Central Development Company, discussed the positive effect that Events Tourism has on growing the Tourism industry, that is expected to reach $1.6 trillion by 2028-, in a panel titled " winning the bid: Investing in Events Tourism."
Alongside the panel discussion, JCDC provided a captivating virtual reality experience, in addition to physical models and displays, at their designated event space throughout the four days, allowing visitors to walk through the development in an immersive virtual experience.
Located right in the heart of Jeddah, Jeddah Central is inspired by the heritage of the old town, Al Balad, but built in a contemporary way using sustainable design and materials.
This identity is intended to bridge the past and the future celebrated by a vibrant community and spirit bringing Saudi contemporary culture and soul to the world.
About the Jeddah Central Project
The Jeddah Central Project aims to turn the heart of Jeddah into one of the world’s largest and most alluring tourist, sporting, cultural, recreational, commercial, and residential destinations. The project will feature four exceptional landmarks—Opera house, Museum, Stadium and Oceanarium. The construction features distinctive architecture highlighting Jeddah’s historic culture identity while incorporating modern design elements.
The project will receive investment up to SAR 75 billion for the development of all phases. The 5.7-million-square-meter project features a prime location with a 9.5-kilometer shoreline, including 2.1 kilometers of sandy beaches. It also includes a world-class marina to accommodate local and international yachts.
The project will be implemented in three phases, the first one will be completed by 2027. After which it will start receiving Jeddah residents and visitors. The second phase is to be completed by 2030. The rest of the development will take place after 2030. The company is currently working with the relevant authorities to ensure the implementation of all stages according to the approved time plan.
About Jeddah Central Development Company
Jeddah Central Development Company (JCDC) is the master developer of Jeddah Central Project. The company is wholly owned by the Public Investment Fund (PIF) and was established in 2019 to oversee the development and operations of the project.
Its aim through this project is to contribute towards PIF’s objectives of diversifying the national economy, creating more job opportunities for Saudis, and developing crucial business sectors including real estate, hospitality, services, and retail, among many others. The expansion activities are in line with the directives of Vision 2030 that call for diversification of the kingdom’s economy.