2023-10-05 21:16:12
Riyadh: One of the oldest cities in Saudi Arabia, Jeddah is a world-class tourist destination. For this, huge development projects are being planned in the historical areas of Jeddah Balad. A special company named Al Balad Development was established for this purpose under the Public Investment Fund. The main objective of the company is the development of the historic areas of Jeddah Balad, which has been included in the UNESCO World Heritage List. Through this, the aim is to elevate Jeddah as a global financial center, a cultural heritage center and a major tourism destination.
Along with the development of infrastructure in the area, the restoration of historic buildings, service facilities and entertainment centers will also be built. Also 9,300 residential units and 1800 hotel units will be established. Commercial and office facilities will also be built on 13 lakh square meters. The development activities of the company will be implemented in a total area of 37 lakh square meters. State-of-the-art urban projects will also be implemented in historic areas in collaboration with the private sector.
Residents of Jeddah will have access to attractive investment opportunities and quality commercial facilities. The project, which will help achieve the goals of Vision 2030, is being led by Crown Prince Mohammed bin Salman.
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