Jeddah Central Development Company, a subsidiary of the Public Investment Fund (PIF), has entered into an investment partnership with Midad Real Estate Company to develop the Atlantis and One&Only hotels within the Jeddah Central destination.
The agreement was signed on the third day of the TOURISE Summit in Riyadh, in the presence of Minister of Tourism Ahmed Al-Khateeb and Mohammed Ibrahim Al-Shaibani, Chairman of the Board of Kerzner International.
Through this partnership, Midad Real Estate has signed an agreement with Kerzner International — the owner of the Atlantis and One&Only brands — to develop and operate both luxury projects in Jeddah, marking the brands’ debut in the Kingdom.
With an investment value exceeding SAR 7 billion, the partnership highlights the caliber of projects being drawn to the Jeddah Central destination. The Atlantis Jeddah project will feature branded hotel rooms, luxury residences, a water park, and integrated entertainment facilities, while the One&Only Jeddah resort will offer hotel suites and premium residences designed to provide an exceptional Red Sea beachfront experience.
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