Saudi Arabia’s Public Investment Fund (PIF) launched a new venture that will invest $3 billion in developing tourism and infrastructure in the southwestern mountainous Asir region, according to Reuters and Saudi Arabia’s official press agency.
The Soudah Development Company (SDC) will develop Soudah, a mountainous area located 3,015 metres (9,892 ft) above sea level, and the ancient village of Rijal Alma’, into a tourist destination for residents and visitors. It aims to contribute an estimated $8 billion to the kingdom’s cumulative gross domestic product (GDP) by 2030.
Asir’s mountainous terrain.
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 $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.
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.
Asir province is in the southwest of the Kingdom, and is one of the least traveled places in Arabia by Western visitors. The provinces boasts a rich history and gorgeous topography.
In 2018, the BBC published a fascinating piece on Asir’s “flower men” who don colorful and ornate head dresses made of local flowers.
