The Public Investment Fund (PIF)-owned Jeddah Central Development Company (JCDC) and Kerzner International, the international hospitality conglomerate behind the well-known Atlantis and One&Only brands, have launched a significant joint venture with Midad Real Estate Company.
Ahmed Al Khateeb, Saudi Arabia’s Minister of Tourism, and Mohammad Al Shaibani, Chairman of the Board of Directors at Kerzner International, attended the signing of the agreement during the TOURISE Global Summit.
The cooperation will introduce the first Atlantis and One&Only destinations to Saudi Arabia, both of which are situated in Jeddah Central, a revitalized waterfront area on the Red Sea coast that aims to become one of the Kingdom’s top tourist and entertainment attractions.
Transforming Jeddah’s waterfront
As the project’s developer, Midad Real Estate will oversee the development of Atlantis Jeddah and One&Only Jeddah, two flagship locations intended to transform Jeddah Central into a premier leisure and cultural destination.
In addition to more than 20 restaurants, upscale shops, and a waterfront entertainment pier, Atlantis Jeddah will have branded homes, the Lost Chambers Aquarium, and the area’s first Aquaventure Waterpark.
The brand’s first Private Homes community in Saudi Arabia will be available within the One&Only Jeddah resort, along with rooms, suites, and villas. Seven famous restaurants, the Club One Wellness Center, private beach access, and special event facilities are all available to visitors. Both projects will use modern architecture and coral-inspired landscaping to honor Jeddah’s Corniche legacy.
Sustainable and vision-driven
Both projects will be centered around sustainability, with eco-friendly design, energy-efficient technology, and programs that safeguard urban and marine habitats.
Eng. Ahmed bin Abdulaziz Al Sulaim, CEO of Jeddah Central Development Company, said: “This partnership reinforces Jeddah Central’s status as a global waterfront destination. It reflects the power of collaboration between Saudi developers and international hospitality leaders, contributing directly to Saudi Vision 2030.”
Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate, added: “This is a defining moment for Midad Real Estate. Together with Kerzner and JCDC, we will set new benchmarks for luxury, sustainability, and hospitality in Saudi Arabia.”
Philippe Zuber, CEO of Kerzner International, said: “The launch of Atlantis and One&Only in Jeddah marks a new era for the Kingdom’s tourism sector. We are proud to play a role in shaping this exciting future.”
Strategic milestone
- Marks the Saudi Arabian debut of Kerzner International.
- Bolsters the upscale hospitality portfolio of Midad Real Estate.
- Promotes Jeddah Central as a worldwide destination for urban life, entertainment, and culture.
- Encourages tourism, investment, and job growth in order to support Saudi Vision 2030.
The historic partnership highlights Jeddah’s rise to prominence as a vibrant coastal destination poised to raise the bar for travel and hospitality in the area.
