Saudi Press: SDC Aims to Invest in Infrastructure and Development of Tourism and Entertainment Sectors

Friday 1442/7/14 - 2021/02/26
  • Share on Google+

Riyadh, February 26, 2021, SPA -- Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas.
Al-Yaum, Al-Bilad and Al Eqtisadiah newspapers reported in their editorials that since the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, has assumed the reins of rule and the work to achieve comprehensive and balanced development among all parts of the Kingdom of Saudi Arabia is in full swing.
Diversifying sources of income and strengthening the Saudi Arabia's economic capabilities are key pillars in the plans and strategies of its vision 2030, the papers said .
In this regard, 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 Asir Region, with expected investments exceeding SR11 billion, the papers added.
The entity, fully owned by PIF, aims to invest in the infrastructure and development of the tourism and entertainment sectors, by working to develop the project area, which includes Soudah and parts of Rijal Alma'a Governorate to become a luxurious mountain tourist destination, characterized by its authentic culture, unique heritage and charming nature, along with providing various residential and entertainment options, the papers further added.
SDC is within PIF companies, as it reflects the interest and keenness of the HRH the Crown Prince to invest the capabilities of the Soudah tourist area and makes it international tourist destination that provides various entertainment and residential options, the papers concluded.
14:36 LOCAL TIME 11:36 GMT