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Saudi Arabia’s PIF launches SDC to create new $3bn destination

Saudi Arabia’s Public Investment Fund (PIF) has launched the Soudah Development Company (SDC) to create a $3 billion mountain destination in the Asir Region.

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SDC was announced by Saudi crown prince and chairman of PIF, Mohammed bin Salman. Soudah Development Company is fully owned by PIF.

The company will lead the development of a luxury mountain destination with immersive cultural experiences, as part of Vision 2030.

SDC will invest $3 billion in infrastructure and tourism projects to enhance the visitor experience in Soudah. This includes 2,700 hotel rooms, 1,300 residential units and 30 unique entertainment attractions.

The project will become a year-long sustainable destination that contributes an estimated $8 billion to Saudi Arabia’s cumulative gross domestic product (GDP) by 2030.

Entertainment attractions in Soudah

SDC will team up with the local community and investors to create a network of hospitality, residential, commercial and entertainment facilities.

The company aims to welcome more than 2 million visitors every year. It also plans to create 8,000 direct and indirect permanent jobs by 2030.

Yasir Othman Al-Rumayyan, governor of PIF, 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.”

Immersive cultural experiences from SDC

Saudi Arabia’s PIF recently launched Cruise Saudi, which will contribute to the country’s efforts to become a tourist destination, in line with Vision 2030.

Meanwhile, a $500 billion zero-carbon city has been unveiled in Saudi Arabia. THE LINE at NEOM will cover 105 miles and feature hyper-connected communities without cars or streets.

Saudi Arabia is creating a host of attractions and giga-projects as part of Vision 2030, including Qiddiya, the Red Sea Project and AlUla.

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Bea Mitchell

A journalist specialising in entertainment and attractions, Bea loves theme parks (mainly Disney) and is particularly interested in things of a gothic, horror or fantasy nature.

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