Al Balad Development Company Announces Plans for Historic District in Jeddah
BDC to Invest in Infrastructure, Restoration, and Services
Wholly-owned subsidiary of Public Investment Fund
Jeddah, Saudi Arabia – Al Balad Development Company (BDC), a Public Investment Fund (PIF) subsidiary, has unveiled plans to transform Jeddah's historic Al Balad district. As part of its mandate to preserve and enhance heritage assets, BDC will focus on upgrading infrastructure, restoring historic buildings, and developing service facilities.
"Our aim is to revitalize Al Balad, while maintaining its cultural integrity and preserving its historic charm," said BDC CEO Abdullah Al-Qahtani. "We believe that by investing in this district, we can unlock its potential as a vibrant cultural destination."
BDC's plans include enhancing pedestrian walkways, restoring traditional buildings, and introducing new services such as restaurants, cafes, and cultural centers. The company will also work with local residents and businesses to ensure the project benefits the community.
Al Balad is recognized for its architectural heritage and vibrant cultural traditions. The district is home to numerous historical sites, including the Al-Tayebat Mosque, the Bab Makkah, and the Souq Al-Alawi.
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