Jeddah Economic City Phase 1 to create 30,000 jobs
The Jeddah Economic Company, the developer of the $20b Jeddah Tower, restated the importance of the project to Saudi Vision 2030
The Jeddah Economic Company, the developer of the $20b Jeddah Tower, restated the importance of the Jeddah Economic City and tower projects to Saudi Vision 2030.
Eng. Talal Al Maiman, CEO of Kingdom Holding and member of JEC board of directors, said: “We have calculated more than 30,000 possible job opportunities that Phase 1 of the project will offer, serving all the residential, commercial, cultural, administrative and recreational activities taking place in the city.
“In few months, these land lots will be ready for developers, complete with services and supporting amenities.”
During a visit to the project site last week, Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company, said that construction on the tower has been delayed to 2019, pushed nearly a year from its original due date.
Now reaching the 54th floor in its development, Prince Alwaleed also said that the official height of the $20bn tower will not be disclosed until six month before its official opening.
“The final height will be decided by the end of the year,” he said.
Hammoud added: “The remaining parts of Phase 1 will gradually be developed by local and international developers according to the regulations set forth by JEC’s Master plan, and under the company’s direct supervision.”
The Jeddah Economic City will be developed in three phases and will provide a fully-equipped living, working and entertainment environment spread across 1.5 sq km of space.
The area will also focus on securing job opportunities for locals and the rising demand for quality housing.