Malta group in deal to set up key hotel brand at Jeddah Central

Malta group in deal to set up key hotel brand at Jeddah Central

Saudi-based developer Jeddah Central Development Company (JCDC) has signed an agreement with Malta-based International Hotel Investments to set up its Corinthia brand of hotels within its beachfront lifestyle project in the Saudi city.

As per the deal, International Hotel Investments will be providing advisory services for the development and operation of these projects at Marina district located within the mega SR75-billion ($20 billion) Jeddah Central project.

A part of the Jeddah Central's 9.5-km waterfront on the Red Sea, the Marina District will feature a world class marina equipped for local and international boats, yachts, and superyachts.

The marina will serve as a gateway to the city on the Red Sea coast, creating a thriving residential marine community, including recreational facilities, retail outlets, restaurants, and cafes.

JCDC, a subsidiary of Saudi sovereign wealth fund PFI (Public Investment Fund) and the master developer of the Jeddah Central development, said this comes as part of its strategic plan to create a local attraction and global destination in the heart of the Saudi port city.

Being implemented on a 5.7-million-sq-m area in the Saudi port city, Jeddah Central has a stunning waterfront location with a 2.1 km of sandy beaches.

On the strategic partnership, CEO Engineer Ahmed Al Sulaim, said: