Saudi Arabia’s Crown Prince Mohammed bin Salman has launched the masterplan for Jeddah Central Project, formerly known as New Jeddah Downtown. The 75 billion Saudi riyals ($19.9 billion) project will involve the development of 5.7 million square metres of land overlooking the Red Sea.
Financed by the Public Investment Fund and local and international investors, the project will be anchored by four key landmarks: an opera house, museum, sports stadium and oceanarium. It is hoped the project will play a pivotal role in helping the city develop the economic sectors of tourism, entertainment, culture and sports.
The development will also be home to 17,000 residential units and 2,700 hotel rooms, as well as a marina, beach resorts, restaurants, cafes and retail facilities.
The design offers a modern interpretation of the traditional Hijazi architecture and blocks of the historic city of Jeddah. It aims to utilise the latest technologies to become a “smart destination” for residents and visitors. Sustainability has also been a key consideration in the design, which involved more than 500 engineers and consultants.
The waterfront project is 9.5 kilometres long and is flanked by a promenade and 2.1km beach. Open spaces and public services account for 40 per cent of the project’s footprint, with the provision of plenty of walking areas.
The project will be completed in three phases, the first of which is due for completion by the end of 2027.
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
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Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
Killing of Qassem Suleimani
Zayed Sustainability Prize
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million