PIF’s AlUla Development Co. starts works to back maintainable advancements

(MENAFN) The AlUla Development Co., entirely possessed by Saudi Arabia’s Public Investment Fund, has started its works to back maintainable improvements in the district, as the nation carries on with its green tourism journey along with the aims underlined in Vision 2030.

The works of the firm are targeting to place AlUla as a top tourist and cultural location for travelers, a said in a mutual press release reported by the company and PIF.

The firm, also known as UDC, is going to operate in cooperation with the Royal Commission of AlUla as well as several private industry entities to back the improvements and functions of a world-class portfolio of worldwide hospitality, residential, retail, commercial in addition to infrastructure assets.

This contains strategic improvement ventures in AlUla which is going to establish more than 7,500 hotel rooms, 5,000 housing units, a staff village consisting of over 1,000 units, in addition to other backing infrastructure.

On its official Twitter account the PIF published that “The real estate business will support the sustainable development and preservation of AlUla, one of the world’s largest and oldest cultural sites, and create jobs and opportunities for Saudi businesses.”


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