WHO WE ARE
Soudah Development (SD), a closed joint-stock real estate development company owned by the Public Investment Fund (PIF) of Saudi Arabia, aims to drive the development of Soudah and parts of Rijal Alma’a Governorate in the Asir region, to create a luxury mountain destination. Announced by HRH Crown Prince Mohammad bin Salman bin Abdulaziz Al-Saud, Deputy Prime Minister and Chairman of the Public Investment Fund (PIF) on 24th February 2021, SD was launched with an investment exceeding SAR 11 billion.
SD is an integral part of PIF’s contribution to Saudi Vision 2030 goals of enhancing and developing the tourism and entertainment sectors in the Kingdom.
Home to the highest peak in Saudi Arabia, situated over 3,000m above sea level, the destination maintains cool temperatures all year and offers sweeping valleys, thrilling hiking trails and serene sights of mountain peaks nestled amidst enchanting rain clouds. The destination at present enjoys a thriving domestic tourism demand. SD will protect the region’s natural resources as well as celebrate its unique cultural heritage to create a destination that has both local and international appeal.
PRESERVING NATURE AND CELEBRATING CULTURE AND HERITAGE
With sustainability at its core, Soudah Development will invest in the infrastructure of Soudah and Rijal Alma’a, advancing the entertainment, residential and commercial sectors, while increasing access to its unique culture, national treasures and heritage sites.
SAUDI ARABIA’S VISION 2030
In line with Saudi Arabia’s Vision 2030 goals to enhance and develop the tourism and entertainment sector in the Kingdom, SD initiatives will contribute SAR 29 billion towards the Kingdom’s cumulative GDP by 2030.
Soudah Development projects offer an array of investment opportunities to both, local and international investors with the goal of creating potential partnerships within the public and private sectors. With an investment exceeding SAR 11 billion, SD will work towards building a sustainable tourism infrastructure and attractions to create a unique yearlong travel destination.
Preserving the environmental integrity and protecting the destination’s natural assets will be a priority and the development will follow a rigorous regulatory framework and urban planning code to underpin all its development activities. SD aims to attract over 2 million visitors annually by 2030.
OUR DEVELOPING PROJECTS
With over SAR 11 billion in investment, which includes over SAR 3 billion dedicated to upgrading the infrastructure, the planned developments include 2,700 hotel rooms,1,300 residential units, and 30 unique commercial and entertainment attractions that will create 8,000 direct and indirect jobs by 2030, and thousands of temporary jobs during peak periods.