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Thursday, 08 June 2023
Saudi Arabia's Crown Prince launches Jeddah Central Project
Mohammed bin Salman-Crown Prince/Facebook page

Thr Khaleej Times reported according to Reuters that Saudi state news agency said on Friday, Saudi Arabia's Crown Prince Mohammed bin Salman has launched the plan and main features of the Jeddah Central Project, previously known as New Jeddah Downtown, with total investments of 75 billion riyal ($19.99 billion).

SPA said in a statement: "The ambitious 75 billion Saudi riyal project will develop 5.7 million square metres of land overlooking the Red Sea to be financed by the Public Investment Fund and from local and international investors."

Saudi Arabia-Streets of Jeddah/Pixabay
Saudi Arabia-Streets of Jeddah/Pixabay

SPA said, the project is expected to achieve an estimated added value of 47 billion riyals for the Kingdom's economy by 2030.

Source: khaleejtimes