Crown Prince Mohammed bin Salman has launched the master development Downtown Jeddah project, formerly known as “New Jeddah Downtown”, to develop 5.7 million square meters with a total investment of SR75 billion ($19.98 billion).Source: https://www.arabnews.com/node/1988621/business-economyThe project will be implemented by the Public Investment Fund’s Central Jeddah Development in three phases, the first of which will be completed by the end of the year 2027.