Market Outlook•
Al Balad's $3.6B Bet: Transforming Jeddah Historic District into Hospitality Hub
Preserving heritage while meeting contemporary tourism demands has become integral to Saudi Arabia’s urban planning strategies and economic sustainability objectives. A prime example is the ongoing revitalization of Jeddah’s Al Balad District. Central to these efforts is a $3.6 billion investment by PIF’s Al Balad Development Company to transform the district’s hospitality landscape. The initiative creates a scalable model for heritage conservation and sustainable urban development, generating multiple avenues for value creation within the hospitality and tourism sectors. Jeddah’s Al […]
