Capital Investment Buys Jeddah Cove for 1.1bn Riyals

AlInvest Capital, the investment arm of the Saudi Investment Bank, has acquired the "Jeddah Cove" project valued at 1.1 billion riyals, with the goal of developing a commercial and entertainment destination along Jeddah's corniche stretching over a one-kilometer length. The project includes a land area of 140,000 square meters and is situated near major hotels and tourist landmarks in the city. Its aim is to offer a luxurious experience that combines shopping, entertainment, and quality of life, reflecting current trends in modern real estate development in Jeddah. This initiative is part of an expansion plan for the real estate market and underscores Jeddah's position as a leading tourist destination in Saudi Arabia.