Fahad bin Mohammed Al-Melhem, Head of the Commercial Investment Development Department at Jubail Industrial City, revealed the commercial and industrial investment opportunities in Jubail Industrial City for 2016, noting that residential investment reached 25.56 billion riyals, while commercial investments approached 7 billion riyals. He highlighted the high demand for investment in the Authority, which is offering projects to build and operate a world-class 5-star hotel with an investment volume of 1.01 billion riyals, as well as the construction and operation of residential buildings and commercial stores with an investment of 1.59 billion riyals; the construction and operation of a hospital with an investment of 1.3 billion riyals; and the construction and operation of a shopping mall with an investment of 284.8 million riyals, in addition to a number of other opportunities involving the management and operation of schools, daycare centers, restaurants, a gas station, and cafes.
During a meeting with business leaders and investors at the Jeddah Chamber of Commerce the day before yesterday, Al-Melhem emphasized that they encourage new ideas that serve the city’s investment sector. He reiterated their support for the private sector to contribute as much as possible to land development and the operation of commercial facilities, and to overcome any obstacles facing investors through the incentives and facilities they provide, while encouraging new ideas and fostering an optimal investment climate that facilitates efficient operations.
He noted that there is an approved mechanism for project allocation, which involves announcing commercial and residential investment opportunities through local newspapers and other available channels, once all investment opportunities are technically complete (property description, type of use, planning criteria, and timelines). This is followed by a recruitment phase, during which the city seeks out investors and distinguished international brands that are qualified in their respective investment fields.
