About the company
Al-Balad Development Company is a wholly owned subsidiary of the Public Investment Fund (PIF) and the master developer and asset manager for the revitalization of Historic Jeddah. The company aims to provide an authentic experience, build a vibrant and innovative community, and establish a global economic, historical, and cultural hub based on Jeddah's rich heritage and diverse culture. The company's establishment stems from the directives of His Royal Highness the Crown Prince – may God protect him – to develop Historic Jeddah, a project initiated by His Royal Highness in 2019, and aligns with PIF's strategy and the goals of the Kingdom's Vision 2030 to make Jeddah a global destination.
