Jeddah Central Project Set to Be Prominent Development Project in Kingdom’s Vision 2030

Jeddah Central Project will push the Saudi city into a development movement that will enhance its presence among the top 100 global cities (Asharq Al-Awsat)
Jeddah Central Project will push the Saudi city into a development movement that will enhance its presence among the top 100 global cities (Asharq Al-Awsat)
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Jeddah Central Project Set to Be Prominent Development Project in Kingdom’s Vision 2030

Jeddah Central Project will push the Saudi city into a development movement that will enhance its presence among the top 100 global cities (Asharq Al-Awsat)
Jeddah Central Project will push the Saudi city into a development movement that will enhance its presence among the top 100 global cities (Asharq Al-Awsat)

Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz launched a development plan for the Jeddah Central Project on Friday. The undertaking sets out to be one of the most prominent development projects of the Kingdom’s national program for transformation, Vision 2030.

It aims to develop the city of Jeddah in support of its ambitions to become one of the top 100 cities in the world.

The project will contribute to developing a vital area suitable for recreation, entertainment, and shopping, transforming the city into a unique destination for various segments of society, including residents and visitors.

The project will be implemented by the Public Investment Fund’s Central Jeddah Development in three phases, the first of which will be completed by the end of the year 2027.

Downtown Jeddah will then begin to receive residents and visitors from inside and outside the Kingdom.

The project aligns with the Kingdom’s Vision 2030, especially developing tourism sites that live up to the highest international standards. It also provides investment opportunities that contribute to the development of the private sector and the tourism, hospitality, and entertainment sector.

In addition, the city will benefit from the building and development of modern residential areas, encompassing 17,000 residential units and diversified hotel projects that offer more than 2,700 hotel rooms, and the provision of integrated solutions for the business sector.

The project will feature a world-class marina and stunning beach resorts, as well as restaurants and cafes and diverse shopping options.

The waterfront of the project is 9.5 km long, which includes a promenade, a marina to host local and international yachts, and a 2.1 km long beach. Open spaces and public services make up a significant part of the project area, with the provision of designated walking areas to create a walkable environment.



UK Economy Shrinks 0.1% in May

The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)
The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)
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UK Economy Shrinks 0.1% in May

The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)
The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)

Britain's economic output shrank by 0.1% in May, official data showed on Friday.

Economists polled by Reuters had mostly forecast that gross domestic product would rise by 0.1% from April's level.

Britain's economy expanded rapidly in the first quarter of 2025, outstripping growth in other countries in the Group of Seven advanced economies. In May the Bank of England revised up its full-year growth forecast to 1%.

However, much of the growth in early 2025 was likely to have been linked to the expiry of a tax break for some home purchases in April which boosted the sector before the deadline, and a rush by manufacturers to beat higher US import tariffs.

The BoE has said it thinks the economy grew by about 0.25% in the second quarter of 2025.