Jeddah
From The Report: Saudi Arabia 2015
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The Kingdom’s second-largest city and its most significant seaport, Jeddah is one of Saudi Arabia’s key economic engines. While rapid population growth has placed a strain on both housing and public infrastructure, economic growth remains strong, with GDP per capita increasing by 2.4% in 2014 while employment rose by 3.4%. Expansion plans for Jeddah Islamic Port, which is key to the region’s growth and already handles 55m-60m tonnes of shipped goods per year, are expected to increase its capacity by 45%. Among the numerous other development projects are under way, most notable is Kingdom City in Obhor to the north of Jeddah, whose centrepiece will be the world’s first building to be over 1 km tall: Kingdom Tower. This chapter contains an interview with Mazzen Batterjee, Vice-Chairman, Jeddah Chamber of Commerce and Industry.

Articles from this Chapter

Overview

A wealth of developments: From infrastructure to housing, the projects in the pipeline should help to raise the city’s profile
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The Kingdom’s second-largest city and its most significant seaport, Jeddah is a key engine of the Saudi economy. The “Bride of the Red Sea” is currently experiencing rapid population growth, as rural dwellers and migrant workers arrive in search of jobs and opportunities. To meet the infrastructural challenge presented by the pace of growth, municipal authorities and the central government have embarked upon an ambitious programme of investment in infrastructure and housing, in which partnership…

Interview

A clear advantage: OBG talks to Mazen Batterjee, Vice-Chairman, Jeddah Chamber of Commerce and Industry
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Interview: Mazen Batterjee To what extent is activity in the private sector currently underpinning non-oil economic growth? MAZEN BATTERJEE: Most infrastructure projects in the country are dependent on government spending. As a result, when the oil price is high, more public projects are initiated, and vice versa. Indeed, one may say that the price of oil is reflected in many industries across the Kingdom, most notably within the construction sector. Nonetheless, the local private sector, including…

Analysis

On the heritage trail: World Heritage status is prompting rapid tourism sector growth
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Visitors to Jeddah in January 2015 were witness to a rare treat: as part of the festivities surrounding the opening of the 2nd Historic Jeddah Festival, an operetta called “Your Sun Shines” was performed by 100 local folk artists. The subject of the operetta was highly apposite: it told the story of historic Jeddah’s social life, how later generations drifted from such ways, and how eventually “the sun started shining again”, as the city’s heritage achievements were recognised by UNESCO. Organisers…

Analysis

Spreading out: Rising demand is being met through large-scale developments
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With Jeddah’s population continuing to grow at pace, the Jeddah Development and Urban Regeneration Company (JDURC) estimates that demand for housing in the city will rise to 40,000 units by 2023, up from a current figure of 18,000-25,000 units per year. Meeting this demand would present a challenge in any city, yet in Jeddah the municipal authorities have the additional problem of redeveloping significant tracts of existing urban development. An estimated 20% of the population currently lives…