SOUDAH-DEVELOPMENT
24.2.2021 19:02:05 CET | 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/
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20210224005860/en/
Link:
About Business Wire
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
Newmont Reports 2025 Mineral Reserves of 118.2 Million Gold Ounces and 12.5 Million Tonnes of Copper19.2.2026 22:08:00 CET | Press release
Newmont Corporation (NYSE: NEM, ASX: NGT, PNGX: NEM) (Newmont or the Company) reported gold Mineral Reserves ("reserves") of 118.2 million attributable ounces at the end of 2025 compared to 134.1 million attributable ounces at the end of 2024, mainly driven by the divestment of assets in 2025. Newmont's portfolio includes significant reserves from other metals, including 12.5 million attributable tonnes of copper reserves and 442 million attributable ounces of silver reserves. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260219894602/en/ Percentage of Gold Reserves by Jurisdiction "In 2025, Newmont maintained its position of having the industry's largest gold reserve base, declaring 118 million ounces of reserves, representing decades of production life with meaningful upside," said Natascha Viljoen, Newmont's President and Chief Executive Officer. "Through the disciplined application of technical rigor in our leading expl
Unveiling NVIDIA Solution Center: Grid Dynamics’ Family of AI Solutions to Cut Costs for Retail and Manufacturing19.2.2026 22:05:00 CET | Press release
Key Takeaways: Enables enterprises to replace high-cost and recurring SaaS licensing fees with high-performance and cost-efficient NVIDIA-based solutions Offerings are derived from Grid Dynamics’ proven customer solutions and leverage NVIDIA’s technology stack Commercially deployed, with additional customers expressing interest NVIDIA and Grid Dynamics jointly presented these solutions at the National Retail Federation (NRF) conference in January 2026 Learn more in NVIDIA’s published blog Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (Grid Dynamics), a premier AI transformation partner for the Fortune 1000, today announced the launch of its NVIDIA Solution Center. This suite of ready-to-deploy AI applications helps retail and manufacturing enterprises move away from costly, recurring SaaS licenses and subscription fees toward high-performance, NVIDIA-powered solutions. Learn more by reading NVIDIA’s recent announcement. The NVIDIA Solution Center is derived from Grid Dynamics’ proven suc
Rimini Street Announces Fiscal Fourth Quarter and Annual 2025 Financial and Operating Results19.2.2026 22:01:00 CET | Press release
Fourth Quarter and Full Year 2025 Financial Highlights Include:Remaining Performance Obligations (RPO) of $652.9 million, up 11.1% from the prior yearAdjusted Calculated Billings, full year 2025, up 4.2% from the prior yearAdjusted Annualized Recurring Revenue (ARR) up 3.1% from the prior year Rimini Street, Inc., (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced results for the 2025 fourth quarter and fiscal year ended December 31, 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260219293814/en/ Rimini Street Announces Fiscal Fourth Quarter and Annual 2025 Financial and Operating Results “Our fourth quarter results reflect solid execution and continued accelerating sales growth, adjusted for the Oracle PeopleSoft support and services wind
Ares Management Prices European Direct Lending CLO II at Over €300 Million19.2.2026 18:25:00 CET | Press release
Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today the pricing of its second European Direct Lending Collateralized Loan Obligation, Ares European Direct Lending CLO II (“EDL CLO II”), at over €300 million. Consistent with the underlying composition of its predecessor, EDL CLO II is a diversified CLO comprised entirely of directly originated and actively managed loans issued by over 70 middle-market companies predominantly based in Western Europe and primarily operating in resilient industries. The instrument is weighted towards senior-secured floating rate loans and will be rated by S&P and KBRA. Ares believes EDL CLO II is among the first multi-currency middle-market CLOs in Europe. “We are pleased to successfully price our second European Direct Lending CLO in less than 12 months as we continue building on our nearly 20 years of corporate direct lending experience in Europe,” said Michael Dennis, Partner and Co-Head of
Positive Phase 3 Data Demonstrate Potential for ENTYVIO® (vedolizumab) to Address Treatment Gap for Children and Adolescents with Moderate to Severe Ulcerative Colitis19.2.2026 18:00:00 CET | Press release
Pivotal Phase 3 global KEPLER study of vedolizumab intravenous (IV) in pediatric patients ages 2 to 17, who had an inadequate response to either conventional treatment options or tumor necrosis factor (TNF) antagonists, found nearly half (47.3%) of randomized patients achieved primary endpoint of clinical remission at 54 weeksVedolizumab’s safety profile was generally consistent with its known safety profile in adultsResults were presented at the 21st Congress of the European Crohn’s and Colitis Organisation (ECCO) Takeda (TSE:4502/NYSE:TAK) today announced positive data from the pivotal Phase 3 KEPLER trial, which demonstrated that ENTYVIO® (vedolizumab) can offer the possibility of clinical remission for patients ages 2 and older with moderately to severely active ulcerative colitis (UC), a chronic inflammatory disease of the gastrointestinal tract and one of the two most common types of inflammatory bowel disease.1,2 The results, presented at the 21st Congress of the European Crohn’
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