Two PIF-owned companies – master developer Jeddah Central Development Company and Cruise Saudi – have signed an MoU to this effect.
Jeddah Central Development Company (JCDC), master developer of Jeddah Central Project (JCD), has signed an initial agreement with Cruise Saudi, to develop the design for JCD’s International Luxury Cruise Terminal.
JCDC is a wholly owned subsidiary of the Public Investment Fund (PIF) and Cruise Saudi, which specialises in cruise ecosystem development, is also owned by the Saudi sovereign fund.
The Marina and terminal will contribute to transforming Jeddah’s coastline and foster the growth and development of the Kingdom’s marine tourism industry, the companies said, while establishing the city as one of the region’s superyacht and luxury cruise destinations.
“Jeddah’s proximity to the sea has greatly influenced its economic and cultural development over the years. Our plan is to develop a world-class marina that includes a luxury cruise destination, as a continuation of this rich maritime legacy,” Ahmed bin Abdulaziz Al-Sulaim, JCDC chief, said. “Our partnership with Cruise Saudi will help us accelerate our efforts as we work to diversify the Kingdom’s tourism and entertainment industries, which is a key PIF and Saudi Vision 2030 objective,” he added.
When complete, Jeddah Central will have 2,700 hotel rooms and 17,000 residential units. The project will be completed in three phases. Phase One, which is expected to be completed by 2027, includes the creation of one of the largest public beaches in the city, a pier, marina, parks and playgrounds located along the promenade.
Phase Two, estimated to be completed by 2030, includes the creation of a Green Garden, innovative educational facilities and a mosque of modern design. It will also have a library, a coral bay and a smart technology-equipped museum. Phase Three will further enhance the facilities at JCD.
