Tourists visiting the ancient archaeological site of Hegra in AlUla, Saudi Arabia. Bloomberg
Tourists visiting the ancient archaeological site of Hegra in AlUla, Saudi Arabia. Bloomberg
Tourists visiting the ancient archaeological site of Hegra in AlUla, Saudi Arabia. Bloomberg
Tourists visiting the ancient archaeological site of Hegra in AlUla, Saudi Arabia. Bloomberg

PIF-owned AlUla Development Company launched to turn tourism site into global destination


Ian Oxborrow
  • English
  • Arabic

AlUla Development Company is launching operations with the aim of turning the city into a global tourism destination in Saudi Arabia.

The company, which is wholly owned by the Public Investment Fund (PIF), plans to deliver hospitality, residential, retail and infrastructure projects as part of the tourism push.

Planned developments include more than 7,500 hotel keys, 5,000 residential units, a staff village comprising more than 1,000 units, as well as infrastructure support, according to a statement on Monday.

"AlUla Development Company will create jobs and opportunities for local businesses and communities whilst preserving one of the world’s largest and oldest cultural sites," the statement said.

"The company’s mandate is in line with PIF’s strategy on unlocking the capabilities of promising sectors in Saudi Arabia that can help drive the diversification of the economy, increase private sector engagement and improve quality of life to support Saudi Arabia’s position regionally and internationally as a leading tourism and cultural destination in line with Vision 2030."

The company will work in collaboration with the Royal Commission of AlUla (RCU) and private sector entities.

AlUla is expected to contribute about 120 billion Saudi riyals ($32 billion) to Saudi Arabia’s economy.

Saudi megaprojects 2023: Neom, AlUla and more

  • The Line is one of 10 districts in Saudi Arabia's $500 billion Neom megacity. Photo: Neom
    The Line is one of 10 districts in Saudi Arabia's $500 billion Neom megacity. Photo: Neom
  • Sindalah Island is set to be the first destination open to the public within the Neom mega project. Photo: Neom
    Sindalah Island is set to be the first destination open to the public within the Neom mega project. Photo: Neom
  • Trojena, a mountain tourism destination, will be the first major outdoor skiing site in the GCC. Photo: Neom
    Trojena, a mountain tourism destination, will be the first major outdoor skiing site in the GCC. Photo: Neom
  • Oxagon, part of the Neom mega project, is a futuristic new industrial city in the sea. Photo: Neom
    Oxagon, part of the Neom mega project, is a futuristic new industrial city in the sea. Photo: Neom
  • AlUla is a budding tourist magnet in the north-western Madinah region. AFP
    AlUla is a budding tourist magnet in the north-western Madinah region. AFP
  • When it opens in 2023, Nujuma, a Ritz-Carlton Reserve, will form part of The Red Sea project. Photo: Marriott International
    When it opens in 2023, Nujuma, a Ritz-Carlton Reserve, will form part of The Red Sea project. Photo: Marriott International
  • Amaala has unveiled the design for its Triple Bay Yacht Club. Photo: Amaala
    Amaala has unveiled the design for its Triple Bay Yacht Club. Photo: Amaala
  • Qiddiya City is an entertainment development project to be established in Riyadh.
    Qiddiya City is an entertainment development project to be established in Riyadh.
  • Salwa Palace is the largest standing structure in the historic city of Diriyah. Photo: Diriyah Gate Development Authority
    Salwa Palace is the largest standing structure in the historic city of Diriyah. Photo: Diriyah Gate Development Authority
  • A screen grab of aerial footage of the King Salman Park in Riyadh. The project is set to become the world’s biggest urban park.
    A screen grab of aerial footage of the King Salman Park in Riyadh. The project is set to become the world’s biggest urban park.

The RCU forecasts that the population of the area will triple to 130,000 by 2035, generating about 38,000 new jobs.

The RCU was established in 2017 to preserve and develop AlUla, in line with the heritage and preservation priorities of Saudi Arabia’s Vision 2030 programme.

AlUla is among a number of projects in Saudi Arabia which form part of its diversification efforts.

Others include the $500 billion Neom smart city in the north-west of the kingdom, the Red Sea Project, which includes an archipelago of 92 islands, 50 dormant volcanoes, mountain ranges and sand dunes, and Ad Diriyah, the 300-year-old city considered to be the birthplace and capital of the first Saudi state.

Visitors to Saudi Arabia spent 27 billion riyals during the first six months of last year, making tourism one of the kingdom's most promising sectors.

The Ministry of Investment said 3.6 million foreign tourists visited the kingdom during the second quarter of the year, greatly contributing to a plan to diversify sources of income as part of Vision 2030.

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Rating: 3/5

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Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.

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The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.

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Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.

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Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.

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Name: Greg Heinricks

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Record fish: 56kg sailfish

Member of: International Game Fish Association

Company: Arabian Divers and Sportfishing Charters

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Company%20profile
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Updated: January 30, 2023, 1:44 PM