The agreement was signed by Jeddah Mayor Adel Fakieh, chairman of the JDURC, and Ghassan Al-Sulaiman, chairman of the Downtown Development Co.
The development project will cover the historic district, the beachfront and the Arbaeen Lake.
“The agreement aims to strengthen the partnership between the Jeddah Municipality represented by JDURC and the private sector represented by the Downtown Co., which is a coalition of domestic and Gulf investors,” Fakieh said after the signing ceremony.
The mayor said the project is in line with the Kingdom’s policy of providing opportunities to the private sector to participate in the implementation of major projects in the Kingdom. “The project will develop and revitalize downtown Jeddah covering an area of six million square meters and also 14 kilometers of the waterfront. It will also develop green surfaces at more locations, improve lakes, rehabilitate the historic districts, and construct public squares, pedestrian paths and amusement areas,” Fakieh said.
The mayor added that the project would also find solutions to problems such as the environmental pollution of lakes and the waterfront and the deterioration of the historic district. He said the project would be implemented in line with the country’s developmental plans and in collaboration with the Jeddah Governorate and the Saudi Commission for Tourism and Antiquities.
Development work at the historical city would be in compliance with the requirements of UNESCO as the city has been considered a World Heritage location, he said.
Infrastructure development in the downtown will be undertaken while preserving the existing streets and architectural heritage, he said.
“The Downtown Development Co. will work under the directives of Prince Khaled Al-Faisal and the Minister of Municipal and Rural Affairs Prince Mansour bin Miteb,” he said.
Fakieh also called on property owners in the area to participate in the project and benefit from the development.
Ghassan Al-Sulaiman said the project is aimed at restoring life to the heart of Jeddah by developing it and preserving its original heritage and cultural diversity.
