Kingdom Holding Company (KHC) has selected Bechtel to supervise and develop the SR50 billion ($13.33 billion) Jeddah Project.

Bechtel was chosen out of seven companies that were in a competitive bid for the project, said a KHC statement.
The Jeddah Project, one of the major real estate developments planned by KHC, has an area of 5.3 million sq m and is located in the city’s northern area on the Red Sea coastline.
The project will comprise a skyscraper, residential and commercial buildings and hotels.
The residential area will cover 1.5 million sq m, the commercial area 470,000 sq m, education vicinity 150,000 sq m and offices 800,000 sq m.
The remaining land will be utilised for leisure facilities, tourism and the construction of four-star hotels, the company said.