Movies to sunbath: Mohammad bin Salman invests $20 billion to develop beach resorts, opera in Jeddah

1 min read
2020 11 08T111622Z 609092601 RC2ZYJ9EDJVA RTRMADP 3 USA ELECTION SAUDI

Riyadh: Saudi Arabia is investing $20 billion to develop world-class marina and beach resorts, as well as restaurants and cafes, and diverse shopping options at Jeddah.

Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has launched a development plan of the Jeddah Central Project with a total investment of $20 billion.


The project will be developed on 5.7 million square meters of land overlooking the Red Sea, Xinhua news agency reported.

The Jeddah Central Project is expected to achieve an estimated added value of 47 billion riyals for the kingdom’s economy by 2030.

It will include four landmarks, which are opera house, museum, sports stadium, and oceanarium. It will pave the way for local private sector to participate in the development.

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.

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

Saudi Arabia recently hosted its first-ever film festival and lifted the ban on cinemas

Discover more from The Kashmir Monitor

Subscribe now to keep reading and get access to the full archive.

Continue reading