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Jeddah Central District Regeneration
Country: Kingdom of Saudi Arabia
Nature of Investment: Regeneration
Year: 2006
This challenging project involves the regeneration of Al Balad District, the central district of Jeddah and the Historical Area, covering an area of over 5 million m2, which faces serious problems of decaying properties and outdated amenities.
VCBank is a member of a Consortium that has developed the master plan and built the economic model for the project in close coordination with Jeddah Municipality. The master plan has been endorsed by the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul Aziz Al Saud.
VCBank believes that this is one of the most unique regeneration projects in the region that will modernise the Central District of Jeddah whilst maintaining a wealth of historical properties. As a result, significant value has been created to the Consortium that will stem from the revenue streams arising primarily from the management of the project during the course of the project implementation.
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Country: Kingdom of Saudi Arabia
Nature of Investment: Regeneration
Year: 2006
This challenging project involves the regeneration of Al Balad District, the central district of Jeddah and the Historical Area, covering an area of over 5 million m2, which faces serious problems of decaying properties and outdated amenities.
VCBank is a member of a Consortium that has developed the master plan and built the economic model for the project in close coordination with Jeddah Municipality. The master plan has been endorsed by the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul Aziz Al Saud.
VCBank believes that this is one of the most unique regeneration projects in the region that will modernise the Central District of Jeddah whilst maintaining a wealth of historical properties. As a result, significant value has been created to the Consortium that will stem from the revenue streams arising primarily from the management of the project during the course of the project implementation.
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