Dubai, UAE— In order to transform the commercial landscape across the kingdom, Saudi Arabia will lay foundation for 12 business centers in the country, to be called “downtown.”
Saudi Crown Prince Mohammed bin Salman announced the establishment of Saudi Downtown Company and the body has been tasked with building the business hubs in Saudi cities.
The company aims to establish and develop urban centers and multiple and diverse destinations across the kingdom, as well as strengthen strategic partnerships with the private sector and investors by providing many new investment opportunities in the business, shopping, tourism, entertainment, and housing sectors.
Downtown Saudi Arabia will launch projects in 12 cities, making the kingdom a pioneer in the Middle East and a major global competitor for major urban centers. This will help promote trade and investment and boost the Saudi economy.
The kingdom has launched the “Downtown Jeddah” project, a waterfront redevelopment project in the heart of Jeddah’s Corniche, intending to transform it into a vital area and a unique tourist, residential, and commercial destination to become the new Jeddah Downtown.
The project will cover 5 million square meters and house more than 58 thousand people. It will provide approximately 36,000 job opportunities and should finish in 2029.
The project also aims to create an attractive and distinguished environment that contributes to the development of Jeddah, attempting to place it among the top 100 cities in the world, as it consists of a residential area accounting for approximately 42% of the project area, with over 12,000 housing units, and retail and entertainment areas accounting for approximately 35% of the project area.
In addition, an office area accounts for 12% of the total area, with a hospitality area accounting for 11%.
A museum area, cultural and social activity centers, a central area for business and innovation activities, a commercial and shopping area, an area for gardens, recreational parks, and sports activities, a hospitality area, hotels and resorts, a beach area, marine activities, hiking, and a marina for private boats and yachts are all part of the project plan as well.
It is also expected to include the “Jeddah Tower,” which will be the world’s tallest skyscraper with a length of 1,000 meters, surpassing Dubai’s Burj Khalifa, which stands at approximately 830 meters.
The new Jeddah Tower is located north of Jeddah on the Red Sea and is built in a triangular shape that is sloped from the outside to resist winds while also being isolated from the hustle and bustle of the city.
The Jeddah Tower will have the world’s highest observation deck, rising 664 meters above the ground. Other facilities and services planned for the tower include a five-star Four Seasons hotel, 97 hotel apartments, work offices spanning seven floors, and 325 apartments.
When completed, the tower will be the “jewel” of the Jeddah Economic City project, commercial and residential development with 57 million square feet of space.
The tower’s owner, Saudi Prince Al-Waleed bin Talal, announced last month that “the tallest Jeddah tower in the world will soon be completed,” making it a great tributary to Downtown Jeddah and positively reflecting on the kingdom’s economy and supporting its vision of economic diversification.
The word “downtown” originated in the United States of America in 1830, to characterize Manhattan, the central business district of New York City.
“Downtown” New York is home to the city’s most notable landmarks, including Central Park and Times Square, as well as the most luxurious hotels, restaurants, homes, and businesses. An estimated 50 million tourists visit this area each year, making it one of the most popular tourist destinations.
As for “Downtown Tokyo,” it is one of the most innovative urban centers in the world due to digital technology, high labor productivity, and the expansion of human expertise and talent.
In addition to New York and Tokyo, London, Paris, Shanghai, Singapore, and Amsterdam also attract visitors and tourists due to the presence of their respective cultural centers and the presence of the most prominent tourist and economic attractions.
In major economic nations, urban downtown centers projects were developed to promote economic growth and development and enhance the quality of life, urban services, and competitiveness.
With the boom in construction and architecture in the Gulf region and the significant economic revival, downtown projects are starting to show up in the Gulf from Dubai.
The Dubai government launched the “Downtown Dubai” project in 1998, which enabled the city to become the fastest growing and prosperous city in the Emirates and an important economic and tourist destination in the region and worldwide.
Downtown Dubai includes the Emirate’s most prominent landmarks, including the tallest Burj Khalifa in the world, the Emirates Financial Towers, which include offices and branches of major international companies, which has made the city the focus of tourists from all over the world, with 7.28 million visitors in 2021.