Saudi Arabia’s future hotel construction pipeline is valued at $42bn, driven by the Red Sea Project, Neom and the Al-Ula project in the Medina region
CASE STUDY: Jeddah Central Project
> Developer: Jeddah Central Development Company
> Stage: Design
> Estimated value: Phase 1 – $2bn; Phase 2 – $1bn
Jeddah Central is being developed on a 5.7 square-kilometre site and will comprise 17,000 residential units and 2,700 hotel keys, as well as an opera house, a museum, a sports stadium and an oceanarium.
It will have six districts, named Central, Marina, Beach, Sport Park, Cultural & Creativity and Wellness.
The scheme will be delivered in three phases.
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MEED's October 2022 special report on Saudi Arabia includes:
> ECONOMY | Saudi economy soars as globe flounders
> GOVERNMENT | Riyadh looks to renew investor appetite
> BANKING | Saudi lenders eye new growth opportunities
> UPSTREAM | Aramco paces ahead with upstream projects
> DOWNSTREAM | Saudi downstream schemes register progress
> CHEMICALS | Saudi Arabia accelerates chemical projects
> POWER: Saudi Arabia needs to ramp up renewables
> WATER | Riyadh to implement over $30bn of water projects
> CONSTRUCTION | Major projects drive Saudi construction
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