Jeddah Central Development Company

Jeddah Central Development Company is an urban and real estate development company based in Jeddah, Saudi Arabia. The company was founded in December 2021 by Crown Prince Mohammed bin Salman as part of Saudi Vision 2030. JCDC is owned by the Public Investment Fund. The company is responsible for the development of the $20 billion Jeddah Central project.

History

JCDC was officially launched by Mohammed bin Salman on 17 December 2021 as part of Saudi Vision 2030 plan to diversify the Saudi Economy away from oil.

Projects

Jeddah Central

In September 2023, Jeddah Central Development Company launched Jeddah Central, a $20 billion project to develop central Jeddah. The project spans over an area of 5.7 km² and includes 4 main landmarks, which are: a stadium, museum, oceanarium and opera house. The stadium is expected to host both 2027 AFC Asian Cup and 2034 FIFA World Cup.