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
Operio Group Named Distributor for Schaefer Technologies in the United Kingdom and European Union9.3.2026 23:00:00 EET | Press release
Operio Group has signed a distribution agreement with Schaefer Technologies, a manufacturer of semi-automatic encapsulation equipment. Operio Group, a holding company building a global group of brands serving the solid dose manufacturing industry, will be the official distributor of Schaefer Technologies’ products in the United Kingdom and the European Union. Schaefer Technologies develops semi-automatic capsule filling systems, including equipment that produces banded capsules for liquid and pellet formulations used by nutraceutical and pharmaceutical manufacturers. Leadership from both companies worked together to establish the agreement, including Kevin Schaefer, CEO of Schaefer Technologies Inc., and Alastair Sanderson, Chief Business Development Officer at Operio Group. “Schaefer Technologies is looking forward to our new relationship with Operio Group,” said Schaefer. “Their understanding of the pharmaceutical equipment market makes them a strong partner as we combine our experti
Kinaxis Goes All-In on Innovation at Upcoming Kinexions in Las Vegas9.3.2026 20:00:00 EET | Press release
Registration is officially open for Kinexions North America, the premier global supply chain orchestration conference hosted by Kinaxis® Inc. (TSX: KXS). Taking place June 1–3 in Las Vegas, Nevada, the event brings together supply chain leaders, innovators and practitioners from around the world to explore how organizations can leverage AI-driven strategies and technologies to connect data, people and decisions. After a year defined by market volatility, geopolitical risk and disruption, this year’s conference will focus on how intelligent supply chain orchestration enables organizations to move beyond reactive planning to building true enterprise adaptability. The program promises to be the most immersive and future-forward Kinexions yet, with renowned author, entrepreneur and innovation expert, Peter Hinssen confirmed as a featured keynote address. “Kinexions has always been the place where the best in supply chain come together to calibrate and share ideas, rethink what’s possible a
Radial Selects Riskified to Power Payment Fraud and Refund/Return Protection for Merchant Client Portfolio9.3.2026 16:00:00 EET | Press release
Riskified (NYSE: RSKD), a leader in ecommerce fraud and risk intelligence, today announced a strategic partnership with Radial, a leading 3PL set to become Paxon later this year. Radial will integrate with Riskified’s AI-powered platform to help its merchants approve more legitimate orders and reduce losses from payment fraud, including many merchants that use Shopify as their ecommerce platform. Radial supports many of the world’s most recognized retail brands with a global ecommerce fulfillment network of more than 20 centers across North America, helping merchants deliver orders quickly and cost effectively. By bringing Riskified’s AI-powered fraud decisioning into its commerce ecosystem, Radial gives merchants the surgical ability to calibrate the checkout experience according to risk—without slowing fulfillment. This also supports brands seeking to expand into new markets. Riskified empowers Radial's customers with accurate, real-time fraud decisions at checkout, approving or decl
Andersen to Announce Fourth-Quarter and Full-Year 2025 Financial Results9.3.2026 16:00:00 EET | Press release
Andersen Group Inc. (NYSE: ANDG) (“Andersen”), a leading provider of independent tax, valuation and financial advisory services to individuals and family offices, businesses and funds in the United States, will announce its financial results for the full year and fourth quarter 2025 after the market closes on Tuesday, March 17, 2026. Andersen CEO and Chairman, Mark L. Vorsatz, and Andersen Chief Financial Officer, Neal Livingston, will host a conference call to discuss Andersen’s financial results on Tuesday, March 17, 2026 at 5PM ET. Participants can join the webcast at https://event.choruscall.com/mediaframe/webcast.html?webcastid=J3Hvslre. The webcast replay link will be archived on Andersen’s Investor Relations website at investor.andersen.com within a few hours of the event and will remain on the website for six months. About Andersen Andersen is a leading provider of independent tax, valuation and financial advisory services to individuals, family offices, businesses and alternat
Safe Software Announces the Peak of Data and AI 2027, a Premier Global Conference, in London, UK9.3.2026 15:00:00 EET | Press release
Safe Software (Safe) officially announced today the return of its global user conference, the Peak of Data and AI, taking place March 9–11, 2027, at the QEII Centre in London, UK. A Partner Summit will kick off the event on March 8, 2027, bringing together Safe’s global partner community ahead of the main conference. Hosted every two years, the Peak of Data and AI has evolved from Safe Software’s long-running user conference into a premier global event for data and AI professionals. The conference alternates between North America and international locations, with previous events held in Bonn, Germany (2023) and Seattle, Washington (2025). “At the Peak of Data and AI, we bring together the people who are shaping how organizations use data to drive real-world outcomes,” said Don Murray, CEO of Safe Software. “With London as our host city in 2027, we’re excited to connect with the global community to learn, listen, and share what’s next for data and AI.” The three-day conference will feat
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