March 13, 2023

Jeddah Central Development Company Participates in "Public Investment Fund and Private Sector Forum"

Saudi Arabia's Jeddah Central Development Company (JCDC), a wholly owned company of the Public Investment Fund (PIF) and the developer of the Jeddah Central Development, is participating in the "Public Investment Fund and Private Sector Forum" in Riyadh on March 14-15, 2023. The event aims to bring together investors and suppliers with the Fund's portfolio companies in a bid to boost the local private sector.


Visitors of the forum will have a close look at the design that is Inspired by Jeddah's heritage at JCDC’s booth. Displaying the four unique landmarks: the Museum, the Opera House, the Stadium, and the Oceanarium along with the overall masterplan of the development.


Ahmed bin Abdulaziz Al-Sulaim, the CEO of Jeddah Central Development Company, expressed his excitement about participating in the forum. He emphasized that empowering the private sector is among JCDC’s top priorities, as 70% of the company’s content in 2022 was produced locally as per contracts signed to grow the local economy, aligning with the goals of Vision 2030.


Al-Sulaim also mentioned that the Jeddah Central Development is a shining example of how the public and private sectors can work together to create economic value. By 2030, the Development aims to achieve a direct added value of up to 47 billion riyals for the Kingdom.


The Public Investment Fund and Private Sector Forum is designed to be a platform for dialogue between the Public Investment Fund, its subsidiaries, and the private sector. The event will enable suppliers interested in registering with the Fund's subsidiaries to learn about the latest programs to empower the private sector.


Jeddah Central is located right at the heart of Jeddah on an area of 5.7 million square meters. The smart destination is committed to ensuring the use of the best suitability standards and renewable energy in line with the goals of Green Saudi initiative. JCD offers unique investment opportunities through partnerships between the public and the private sectors in various sectors, including residential, cultural, recreational, sports, offices, commercial shops, and hotels, contributing to the development of the tourism sector in Jeddah.