#Royal commission for alula upgrade
#Royal commission for alula full

The tourism potential of AlUla is evident in the interest it has generated amongst hoteliers and designers, including global luxury brands Aman, Accor/Banyan Tree and Habitas. In parallel, the broader development strategy for AlUla – encompassing multiple masterplans – will lay the foundations for a strong tourism industry with a total of 9,400 hotel keys by 2035, of which 5,000 keys will sit within the Journey Through Time Masterplan. $3.2 billion (SAR 12 billion) to be dedicated to the development of priority primary infrastructure with opportunities for private investment It has already invested $2 billion in development projects, including the expansion of AlUla International Airport, bolstering the county’s security infrastructure and developing key tourism assets, including Ashar estate and the iconic Maraya multi-purpose venue. The RCU is committed to de-risking future investments for partners and will support the development of heritage assets and primary infrastructure.

#Royal commission for alula upgrade

A key component to unlocking AlUla’s future as a sustainable development destination, this will include a 46km low-carbon tramway (22km for the first phase) increasing clean power capacity, with at least 50% of demand supplied through renewable energies by 2035 increasing potable water capacity, with a centralised and upgraded water supply system including a new water supply of desalinated water and a tailor-made water conservation programme and increasing wastewater capacity with an upgrade of the wastewater treatment plant in Mughayra. “With USD 3.2 billion reserved for priority primary infrastructure, the development of AlUla will be anchored in building strong foundations as well as safeguarding AlUla’s cultural and heritage assets.”Īn estimated $3.2 billion will be injected into developing AlUla’s priority infrastructure. By de-risking investment opportunities through our $2 billion (SAR 7.5 billion) seed funding and creating a robust governance framework, we have created a platform for responsible and sustainable development to regenerate a unique location featuring a UNESCO World Heritage Site,” stated Amr AlMadani, Chief Executive Officer of the Royal Commission for AlUla.

#Royal commission for alula full

“With an estimated total development value of over $15 billion, The Journey Through Time Masterplan is an important opportunity to showcase AlUla’s full potential. The masterplan seeks to create a robust investment opportunity in AlUla, contributing to the diversification of the Saudi economy and the creation of jobs, as well as wider opportunities for the local community – all key goals of Saudi Vision 2030. It aims to set the benchmark for responsible and impactful investment in destination development by building social, economic and environmental sustainability into its blueprint. The Journey Through Time Masterplan, a roadmap to protect 200,000 years of natural and human history across the 20km-long core historical area of AlUla, is anchored by the regeneration of five heritage districts. The Royal Commission for AlUla (RCU) has confirmed that its regeneration project – The Journey Through Time Masterplan – represents a $15 billion (SAR 57 billion) opportunity for responsible investment in Public-Private Partnership projects.