In a major step towards beginning the construction, the Jeddah Central Development Company, or JCDC, a wholly-owned subsidiary of the Public Investment Fund has completed the acquisition of the site for the first phase of the Jeddah Central Project. According to the agreement with the Royal Saudi Air Defense Forces Institute, the project"s first phase, measuring 1.5 million square meters, will include a sports stadium, beach, and recreation areas. The agreement was signed by Ahmed Al-Sulaim, CEO of JCDC, and Abdullah bin Hassan Al-Rabbaa, Commander of the Royal Saudi Air Defense Forces Institute in Jeddah. “With its tourism, sports, cultural and entertainment offerings, the project will further JCDC’s contributions to the Public Investment Fund’s efforts focused on accelerating the diversification and growth of Saudi Arabia’s economy in line with the objectives of Vision 2030,” said Al-Sulaim. The Jeddah Central Project will be developed in three phases, the first of which will be completed by the end of 2027. The project is expected to strengthen the economic status of Jeddah city through world-class tourist, sports, cultural, and entertainment destinations for residents of Jeddah and visitors from within the Kingdom and abroad.