Latest news with #SoudahDevelopment
Arab News
3 days ago
- Business
- Arab News
First phase of historic Sheikh's Fortress renovation completed in Rijal Almaa
RIYADH: The first phase of renovating the historic Sheikh's Fortress site in Rijal Almaa was recently completed by Soudah Development, a Public Investment Fund company. It is one of the heritage sites in Jareen, one of six development zones within the Soudah Peaks project, according to a report. Sheikh's Fortress is one of three heritage sites receiving emergency repairs through a collaboration between Soudah Development and the Tourist Villages Cooperative Society of Rijal Almaa, under a deal signed last year. The collaboration includes emergency repairs of Sheikh's Fortress, Bee House and Hamidiyah Fortress, the report said. It is part of broader efforts by Soudah Development to preserve and protect architectural and cultural heritage within the Soudah Peaks project area, which includes about 300 historical and cultural sites. The goal is to provide exceptional experiences for tourists and residents, create job opportunities, and boost the regional and national economy. With the first phase of repairs complete, Sheikh's Fortress will symbolize the region's rich architectural, cultural and historical identity, and help promote local heritage. Soudah Peaks will be a luxury mountain destination inspired by local architectural identity. The project includes six distinctive zones: Tahlal, Sahab, Sabrah, Jareen, Rijal and Red Rock. It will offer luxury tourism, hospitality and residential experiences, and is expected to create thousands of direct and indirect jobs while generating long-term economic impact for the region and the Kingdom.
Zawya
5 days ago
- Business
- Zawya
Soudah Development Completes first phase of emergency repairs at 'Sheikh's Fortress' heritage site in Rijal Almaa
Soudah, Saudi Arabia – Soudah Development, a Public Investment Fund company, has announced the completion of the first phase of emergency repairs at the historic 'Sheikh's Fortress' site in Rijal Almaa. It is one of the heritage sites located in Jareen, one of the six development zones within the Soudah Peaks project. Sheikh's Fortress is one of three heritage sites receiving emergency repairs under a collaboration between Soudah Development and the Tourist Villages Cooperative Society of Rijal Almaa, as part of an MoU signed last year. The collaboration includes emergency repairs of Sheikh's Fortress, Bee House, and the Hamidiyah Fortress. This initiative is part of broader efforts by Soudah Development to preserve and protect the architectural and cultural heritage within Soudah Peaks project area, which encompasses around 300 historical and cultural sites. With the first phase of the emergency repairs now complete, Sheikh's Fortress will serve as a symbol of the region's rich architectural, cultural, and historical identity, and will contribute to promoting the local heritage and identity. Soudah Peaks will be a luxury mountain destination inspired by local architectural identity. The project includes six distinctive zones: Tahlal, Sahab, Sabrah, Jareen, Rijal, and the Red Rock. It will offer luxury experiences in tourism, hospitality, and residential, and is expected to create thousands of direct and indirect job opportunities while generating long-term economic impact for both the region and the Kingdom.
Argaam
28-05-2025
- Business
- Argaam
Aseer draws SAR 50B investments: ADA
Hashem Al-Dabbagh, CEO of Aseer Development Authority (ADA), said that the authority exceeded its investment targets. The private sector investments in Aseer reached around SAR 25 billion, excluding investments by the Public Investment Fund (PIF), which also amount to about SAR 25 billion—bringing the total investments in the region to about SAR 50 billion. In an interview with Argaam on the sidelines of the Aseer Investment Forum, Al-Dabbagh, added that the first edition of the forum, held two years ago, saw investments worth SAR 1.7 billion. This figure grew over the following two years to exceed SAR 5 billion. The current forum witnessed the announcement of new investments worth SAR 4 billion, in addition to projects under study estimated at SAR 15 billion. PIF implements strategic projects in the region at a total value of nearly SAR 25 billion. These projects include Soudah Development Co., which involve luxury hotel and residential developments across six locations in Soudah, with investments exceeding SAR 10 billion. He also cited Al-Wadi project, which is developed by Ardara Co. in central Abha. The project aims to revive the historical riverbed through a comprehensive development of the surrounding areas, with investments of over SAR 10 billion. PIF's investments in the region also include other companies such as Aseer Investment, Qiddiya Development, with some projects still under study. Regarding ADA's strategy, Al-Dabbagh affirmed that it focuses on enhancing the tourism sector and its supporting industries, such as entertainment, agri-tourism, and retail centers. He pointed out that most of the investments attracted during the forum fall within these areas. He added that ADA is also exploring investment opportunities in other sectors, including renewable energy, mining, industry, and agriculture. Al-Dabbagh also revealed that the authority is working with relevant entities to implement a comprehensive development project for Abha Airport. The project aims to increase the airport's capacity to 10 million passengers annually in its first phase, and to 13 million in the second phase—compared to its current capacity of just 1.8 million passengers per year. The existing airport is operating beyond its designed capacity, currently handling more than 4 million passengers annually. This has led to the launch of a global design competition for a new airport with a Saudi countryside theme. One of the updated designs has been approved by the leadership. The project is being implemented through a public-private partnership, in coordination with the General Authority of Civil Aviation (GACA), the National Center for Privatization & PPP, and the Matarat Holding Company. Al-Dabbagh described the project as one of the key enablers of tourism and economic transformation in the region.
