Saudi Crown Prince launches SDC to construct mountain gigaproject – MEP MiddleEast

Saudi Crown Prince launches SDC to construct mountain gigaproject – MEP MiddleEast

The Kingdom of Saudi Arabia's Crown Prince, Deputy Prime Minister, and Chairman of the Public Investment Fund (PIF), HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, has launched the Soudah Development Company (SDC) in the Asir region in Saudi Arabia.

SDC, which will be fully owned by the Public Investment Fund (PIF), will lead the development of a luxury mountain destination with immersive cultural experiences, celebrating natural assets, and empowering the local and national economies.

Launched to be a key driver of the kingdom's Vision 2030 ambitions, SDC will infuse $3bn into infrastructure and tourism projects, aimed at enhancing visitor experiences 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 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 $8bn 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. The development company aims to attract more than 2 million visitors annually