Prime Highlight
- Saudi Arabia will host its first Atlantis and One&Only resorts through a $2.03 billion joint venture.
- The resorts will combine luxury hospitality, iconic attractions, and sustainable design, reinforcing the Kingdom’s Vision 2030 goals for tourism and economic growth.
Key Facts
- Atlantis Jeddah will feature the region’s first Aquaventure Waterpark, the Lost Chambers Aquarium, over 20 dining venues, luxury retail outlets, and a waterfront entertainment pier.
- One&Only Jeddah will include luxury rooms, suites, villas, the brand’s first Private Homes community in Saudi Arabia, seven specialty dining venues, a wellness centre, event facilities, and a private beach.
Background
Saudi Arabia is set to welcome its first Atlantis and One&Only resorts under a landmark $2.03 billion joint venture between Midad Real Estate Co., Jeddah Central Development Co., a subsidiary of the Public Investment Fund, and global hospitality leader Kerzner International. The agreement was signed during the TOURISE Global Summit in the presence of Minister of Tourism Ahmed Al-Khateeb and Kerzner International Chairman Mohammad Al Shaibani.
The two developments will shape the Jeddah Central waterfront master plan, a major Red Sea project that aims to turn the city into a top destination for tourism, entertainment, and culture. Midad Real Estate will lead development efforts for both properties.
The project includes two flagship destinations: Atlantis Jeddah and One&Only Jeddah. Atlantis Jeddah will feature branded residences, the region’s first Aquaventure Waterpark, the Lost Chambers Aquarium, over 20 signature dining venues, luxury retail outlets, and a waterfront entertainment pier.
One&Only Jeddah will offer luxury rooms, suites, villas, and the brand’s first Private Homes community in Saudi Arabia. Guests will also have access to seven specialty dining venues, the Club One Wellness Centre, event facilities, and a private beach.
Both resorts will use modern designs inspired by Jeddah’s Corniche heritage. Designs will include sustainable, coral-influenced landscaping and low-impact construction methods to support environmental preservation.
Officials from all three partners highlighted the strategic importance of the venture. Ahmed bin Abdulaziz Al-Sulaim, CEO of Jeddah Central Development Co., said the project strengthens Jeddah’s position as a global waterfront destination and aligns with Saudi Vision 2030.
Midad Real Estate President Abdulelah bin Mohammed Al-Aiban called the collaboration a defining milestone, noting that it sets new standards for luxury and sustainability.
Kerzner International CEO Philippe Zuber said the partnership will help bring world-renowned entertainment and hospitality experiences to the Kingdom.
