Saudi Azm launches 1.1B riyal Jeddah Cove fund
Azzehrar Real Estate Development Company has announced a strategic partnership with Investment Capital to launch an investment fund worth 1.1 billion riyals for the development of the "Jeddah Cove" project on Jeddah's Corniche. This project is an integrated seafront, commercial, and entertainment destination covering an area of 140,000 square meters, with a waterfront stretching over more than a kilometer. The aim is to enhance Jeddah's waterfront appeal and to provide a luxurious tourism experience that combines commercial and entertainment activities, supporting the development of the tourism sector in line with Saudi Vision 2030. This investment is part of the expanding real estate market in Saudi Arabia and reflects the city's direction to develop its urban and maritime destinations to attract tourists and investments.
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