Historic Jeddah is getting new hotel rooms, homes, and more

The move aims to position Jeddah as a global economic hub…

Saudi Arabia’s Public Investment Fund (PIF) is launching the cool new Al Balad Development Co. to position Jeddah as yet another prime tourist hotspot here in the Kingdom.

According to Arab News, the new company will be focused on improving the infrastructure of the region, supervising the restoration of historical buildings in the area, and developing service facilities, as well as recreational, residential, commercial, hotel and office spaces.

The company will become the main developer of Jeddah’s historic Al Balad district, in line with His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz’s vision to revitalize the UNESCO World Heritage site.

The overall project area will comprise approximately 2.5 million square meters, with a total built-up area of 3.7 million square meters including 9,300 residential units, 1,800 hotel units and around 1.3 million square meters of commercial and office space.

Al Balad Development Co. also aims to provide a culturally rich experience where you can explore the historic dimensions of the district and bask in the heritage.

Al Balad is a gorgeous stretch on the Red Sea coast and was historically a frequent spot for travellers journeying along the Silk Road, welcoming visitors for over 3,000 years. Currently, the development encompasses over 600 buildings and 36 mosques, including the Al-Shafi’i Mosque, which dates back to the thirteenth century.

Moving forward, Al Balad Development Co. will take on the role of restoring and developing the whole area.

Visit: pif.gov.sa