Saudi Arabia’s Al Balad Development Company, by the Public Investment Fund, is transforming Jeddah’s UNESCO-listed Old Town. Three historic coral-stone homes—Beit Jokhdar, Beit Al Rayess, and Beit Kedwan—have been converted into boutique luxury hotels. The project blends traditional architecture with modern design, aiming to restore 34 heritage homes and boost cultural tourism under Vision 2030.