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  • 19-12-21

    Crown Price of KSA initiates Jeddah Downtown development scheme worth of USD20b

    (MENAFN) Saudi Arabia’s Crown Prince Mohammed bin Salman has inaugurated the master development Downtown Jeddah scheme, previously referred to as “New Jeddah Downtown”, to expand 5.7 million square meters with an overall investment of SR75 billion (USD19.98 billion).

    The scheme is going to be employed by the Public Investment Fund’s Central Jeddah Development in three stages, the first of all is going to be finished towards the end of the year 2027.

    Then Downtown Jeddah is going to start welcoming citizens and visitors from inside and outside the country.

    According to Saudi Press Agency, it is going to be funded by the PIF and stockholders from inside and outside the country.

    MENAFN19122021000045013568ID1103395438

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