DUBAI: Saudi Arabia’s recently announced $15 billion masterplan for the development of AlUla will mean the arrival of some of the world’s most-famous hotel groups in the governorate, as hospitality has been identified as a key investment area in the plan.
“The Journey Through Time Masterplan” the first in a series of plans for AlUla’s development, which the Royal Commission for AlUla (RCU) released on April 7 will include 5,000 hotel rooms, with 1,000 rooms ready for use by 2023 and an overall target of 9,400 rooms by 2035 as part of a wider development strategy for AlUla.
The masterplan covers the core heritage area of AlUla and is being implemented in three phases until 2035, with the first phase set to be completed by 2023.
The Royal Commission for AlUla has unveiled $15 billion worth of investment opportunities for the private sector in Saudi Arabia s historical AlUla region within its Journey Through Time Masterplan, the largest oasis regeneration project in the world.
With an estimated total development value of over USD 15 billion (SAR 57 billion), the world's largest oasis regeneration project – The Journey Through Time Masterplan – will create opportunities for responsible investmen
Saudi Arabia Reveals $15 Billion Opportunities for Responsible Investments albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
Saudi Arabia opens $15bn PPP opportunities at mega AlUla development
RIYADH, 4 hours, 51 minutes ago On the anniversary of the announcement of Vision 2030, The Royal Commission for AlUla (RCU) today (April 28) confirmed that its regeneration project – The Journey Through Time Masterplan – represents a $15 billion opportunity for responsible investment in public-private partnership projects. The Journey Through Time Masterplan, a roadmap to protect 200,000 years of natural and human history across the 20-km-long core historical area of AlUla, is anchored by the regeneration of five heritage districts. It aims to set the benchmark for responsible and impactful investment in destination development by building social, economic and environmental sustainability into its blueprint, said the statement from RCU.