HRH Prince Mohammed bin Salman Announces Soudah Development Company (SDC)
24.2.2021 21:00:00 EET | Business Wire | Press release
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Chairman of the Public Investment Fund (PIF), has announced the launch of Soudah Development Company (SDC) in the Asir region in Saudi Arabia. The new entity, fully owned by the Public Investment Fund (PIF), will lead the development of a luxury mountain destination with immersive cultural experiences and celebration of the natural assets empowering the local and national economies.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210224005860/en/
HRH Prince Mohammed bin Salman announces Soudah Development Company (SDC) (Photo: AETOSWire)
Launched to be a key driver of the Kingdom’s Vision 2030 ambitions, SDC will infuse USD 3 billion into infrastructure and tourism projects, aimed at enhancing the visitor experience in Soudah and parts of Rijal Alma'a Governorate in the Asir region of Saudi Arabia. The planned developments include 2,700 hotel rooms, 1,300 residential units, and 30 unique commercial and entertainment attractions. SDC aims to develop the project area into a repeat, year-long sustainable destination for residents and visitors that will contribute an estimate of USD 8 billion to the Kingdom’s cumulative GDP by 2030. SDC intends to partner with the local community and investors to build a robust and diverse network of offerings across the hospitality, residential, commercial and entertainment sectors. It aims to attract over 2 million visitors annually and create 8,000 direct and indirect permanent jobs by 2030.
HE Yasir Othman Al-Rumayyan, Governor for the Public Investment Fund, said: “Our investment in the Asir region reflects our confidence in the character of the location, which is a rich amalgamation of identity, heritage and experience. Through careful and considerate development, (SDC) will provide yet another remarkable destination in the diverse and growing portfolio of Saudi Arabia’s experiences capturing the imagination of a broad range of investors and travelers.” The Public Investment Fund (PIF) will inject at least USD 40 billion a year into the local economy and aims to grow assets under management to over USD 2 trillion by 2030.
The destination adds another dimension to Saudi Arabia’s ambitious tourism goals and complements destinations being created on the Red Sea coast and around the capital city of Riyadh.
SDC aims to create a roadmap to transform the region’s vast public areas to highlight the region’s distinct culture, geography and its verdant nature. Preserving the environmental integrity of the destination will be a priority and the development will follow a rigorous regulatory framework and urban planning code.
For more information, visit the PIF and SDC website
For any media queries, please reach out to our communications team on press@soudah.sa
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210224005860/en/
Contact information
Ahmad S. Nabelsi
ANabelsi@Alsoudah.sa
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Printing the Future of Oncology: CTIBIOTECH Invests €3M and Secures €1.25M from France 2030 to Revolutionize Personalized Cancer Care28.4.2026 15:28:00 EEST | Press release
CTIBIOTECH Announces the CTIONCOTEST ™ Project to Revolutionize Cancer Research with 3D Bioprinted Microtumors, Backed by France 2030 and Bpifrance This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260428242352/en/ The CTIONCOTEST™ platform by CTIBIOTECH is an innovative 3D bioprinting technology that revolutionizes preclinical cancer research . It provides an automated, industrial-scale process to produce high-throughput, patient-specific human "microtumors" directly from primary tumor cells . Designed to tackle the 95% clinical failure rate of new cancer drugs, it faithfully replicates the complex tumor microenvironment, including critical hypoxic and necrotic zones . Targeting high-mortality breast, colon, and pancreatic cancers, the platform features three complexity levels: standard (cancer cells), intermediate (+fibroblasts), and advanced (+immune/endothelial cells) . A key breakthrough is its record cellular viability of
BMG and Concord Combine to Create World’s Leading Independent Music Company28.4.2026 15:11:00 EEST | Press release
BMG and Concord today announced a definitive agreement to combine their businesses, creating the leading independent music company in the world. Operating under the BMG name, the combined company will bring together two highly complementary businesses to establish a scaled, global company delivering superior service to artists, songwriters, and partners – firmly grounded in an independent, artist-first model. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260427537841/en/ Thomas Coesfeld and Bob Valentine, Courtesy of BMG and Concord The combination comes amid significant transformation in the global music market, where scale, global reach, and technology investment are increasingly critical to remain competitive. Together, BMG and Concord will form a fully integrated global music company spanning music publishing, recorded music, theatrical rights, and digital distribution. This increased scale will enable deeper investment
Masimo SET ® Pulse Oximetry Performed Accurately on Hospitalized Newborns of All Skin Tones in Largest-Ever Prospective Real-World Study28.4.2026 15:00:00 EEST | Press release
Masimo (NASDAQ: MASI) today announced the findings of a study evaluating the accuracy of Masimo SET® pulse oximetry among critically ill neonates and demonstrating less than 1% overall statistical bias. Importantly, there were no clinically meaningful skin pigmentation-related discrepancies and no occult hypoxemic events among Black or Hispanic patients, and in only one Caucasian patient overall. The Neonatal Pulse Oximetry Accuracy and Disparities by Skin Pigmentation (NeoPODS) study findings were presented from the podium at the Pediatric Academic Society in Boston, MA on Monday, April 27th at 10 am EST by lead author Dr. Heather Siefkes on behalf of colleagues at the University of California, Davis and the University of Mississippi, Jackson, alongside online publication in the Journal of Pediatrics. As the authors noted, “[W]e found no evidence of clinically meaningful skin tone-related discrepancies, suggesting equitable monitoring performance for this device in this clinical setti
KAYTUS AI Compute Pod Wins 2026 iF Design Award and Red Dot Award, Setting a New Standard for AI Data Center28.4.2026 12:54:00 EEST | Press release
KAYTUS, a leading provider in AI infrastructure and liquid-cooling solutions, announced that its AI Compute Pod has received both the 2026 iF Design Award and Red Dot Award. This dual recognition not only stems from its outstanding performance in green, low-energy operation—achieving up to 130 kW cooling capacity per rack and a PUE as low as 1.1 through optimized thermal and power design—but also from its innovative approach to intelligent control and efficient O&M. The solution enables second-level synchronization between cooling and IT workloads, and leverages a dual-group control strategy to improve cooling energy efficiency by over 10%. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260428825343/en/ KAYTUS AI Compute Pod Wins 2026 iF Design Award and Red Dot Award, Setting a New Standard for AI Data Center Jury panels from both awards highlighted the AI Compute Pod's excellence in miniaturization, modularity, and intelli
Braskem to Showcase Sustainable Packaging Solutions at interpack 202628.4.2026 11:00:00 EEST | Press release
Braskem (B3: BRKM3, BRKM5, and BRKM6, NYSE: BAK, LATIBEX: XBRK) the largest polyolefins producer in the Americas, as well as a global market leader and pioneer producer of biopolymers on an industrial scale, will be at interpack 2026 in hall 9, booth A32, presenting packaging solutions made from bio-based, recycled and traditional polyolefins, enabling circular plastics, end-to-end. At interpack, Braskem will highlight I’m green™ bio‑based polyethylene grades specifically engineered for food‑contact applications, as well as Medcol V7040, a new grade for Healthcare and Hygiene. These innovations mark the first time Braskem has offered sustainably sourced sugarcane‑derived plastics for these segments. In an environment where packaging decisions are increasingly evaluated on both sustainability ambitions and business impact, Braskem positions itself as a materials partner offering multiple, complementary pathways toward circularity and lower emissions. Rather than a one‑size‑fits‑all solu
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom