SDC CEO: We Seek Investing $800 Mln in Infrastructure Development

SDC CEO Husameddin Al-Madani
SDC CEO Husameddin Al-Madani
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SDC CEO: We Seek Investing $800 Mln in Infrastructure Development

SDC CEO Husameddin Al-Madani
SDC CEO Husameddin Al-Madani

With Crown Prince Mohammed bin Salman announcing the creation of the Soudah Development Company (SDC) in Saudi Arabia’s Asir region, the kingdom is set for building a luxury mountain destination that features immersive cultural experiences.

The destination adds another dimension to Saudi Arabia’s ambitious tourism goals, and complements those destinations created on the Red Sea coast and around the capital city of Riyadh.

SDC CEO Husameddin Al-Madani, in an interview with Asharq Al-Awsat, confirmed that the company is seeking to invest more than SR 3 billion ($800 million) in infrastructure development in the targeted region.

This will contribute an estimated SR29 billion ($7.7 billion) to the Kingdom’s cumulative GDP by 2030, Madani confirmed, adding that the company will reveal more details about its general plans soon.

Madani revealed that the SDC will work on quality projects through the development of the kingdom’s tourism and entertainment sectors.

Planned developments include 2,700 hotel rooms, 1,300 residential units, and 30 unique commercial and entertainment attractions that aim to attract over 2 million visitors annually.

“Soudah is home to the tallest peak in the kingdom, with an elevation of over 3,000 meters. It also offers a large number of heritage villages, archeological sites, and juniper forests,” Madani said, stressing that the area has great potential to become a global mountain destination.

When asked on the date of releasing the SDC’s comprehensive general scheme, Madani confirmed that the company is working with a team of development experts and that the project’s plans will be announced later.

“The SDC aims to attract 2 million domestic and international tourists year-long by 2030,” Al-Madani asserted, pointing out that the size of expected investments in the development project will reach around SR 11 billion ($2.9 billion) with opportunities offered to both local and international investors.

Madani affirmed that the company aims to attract international investments to the region, give local investors opportunities, and support small and medium enterprises.

He further revealed that the SDC has practically started working on preserving the region’s heritage and culture, paying attention to its originality, and empowering the local community.



UN Coordinator in Syria: Optimistic About Reconstruction if Transition Succeeds

UN Resident and Humanitarian Coordinator in Syria Adam Abdelmoula (Asharq Al-Awsat)
UN Resident and Humanitarian Coordinator in Syria Adam Abdelmoula (Asharq Al-Awsat)
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UN Coordinator in Syria: Optimistic About Reconstruction if Transition Succeeds

UN Resident and Humanitarian Coordinator in Syria Adam Abdelmoula (Asharq Al-Awsat)
UN Resident and Humanitarian Coordinator in Syria Adam Abdelmoula (Asharq Al-Awsat)

Since 2012, the United Nations Resident Coordinator's developmental role in Syria has been put on hold by the UN. However, the fall of former president Bashar al-Assad’s regime has revived this role.

In an interview with Asharq Al-Awsat, Adam Abdelmoula, the UN Resident and Humanitarian Coordinator in Syria, outlined plans for reconstruction in partnership with the new government in Damascus.

Abdelmoula expressed “great optimism” about Syria’s rebuilding but stressed that the key to rapid recovery is the “success of the transition.”

He explained that this means the transitional period—until a new constitution is agreed upon and an elected government is formed—must be secure and supported by consensus among all Syrians.

Additionally, momentum is building for Syria’s reconstruction, with Gulf Cooperation Council (GCC) countries proposing an international donor conference next spring to raise funds.

Abdelmoula said the UN is consulting with the new Syrian administration to prepare projects and cost estimates for the event.

The UN is preparing aid and technical support for Syria’s new administration, along with a development plan focusing on rebuilding infrastructure, restoring electricity, reviving health services, and supporting agriculture and irrigation to boost the economy.

“We’ve informed the new administration of our work through a letter sent to the foreign minister,” said Abdelmoula.

He told Asharq Al-Awsat that the UN’s “early recovery strategy,” launched last November, is still in place, though its fund has yet to be registered with the trust fund office in New York.

He promised to prioritize its registration and said: “When reconstruction begins in Syria, we will work to establish a dedicated reconstruction fund.”

As for relying on donors for rebuilding Syria, Abdelmoula said: “The UN doesn’t have the billions of dollars needed, but lessons from similar crises show the importance of focusing on strategic priorities, especially rebuilding the economic foundations.”

Abdelmoula noted that UN agencies can secure funding from donors who support development activities in various countries, a process that had been stalled in Syria for over a decade.

“Since the fall of the Syrian regime, many countries, particularly Arab and neighboring ones, have provided significant aid, and this is expected to increase,” he said.

“There are also positive signals from donors, especially Europeans, about boosting humanitarian aid, including continuing the annual Brussels Conference to support Syria,” added Abdelmoula.

He revealed that the mission has learned the European Union will resume hosting the conference this year, despite the fall of Assad’s regime.

The UN official addressed Syria’s sanctions, stating that those harming the Syrian people should be lifted.

He noted that the recent Riyadh meeting showed a strong intention from key international players to ease or fully lift the sanctions.

Abdelmoula pointed out the US decision to suspend some sanctions for six months and mentioned an upcoming EU foreign ministers' meeting to discuss either lifting or easing sanctions to support Syria’s economy, humanitarian aid, banking, and market access.

He explained that some sanctions are imposed by countries like the US, Germany, France, and the UK, which are discussing the best way forward. However, he said fully lifting sanctions may take time due to laws like the US Caesar Act.

Abdelmoula stressed that efforts should focus on reducing the impact of sanctions under the Caesar Act and working to pass new legislation to cancel it. He said this should also apply to sanctions from other countries in the form of laws.

He explained that lifting sanctions would make it easier for the UN and help both the Syrian government and people. A direct benefit would be Syria’s ability to access direct funding, concessional loans from international funds and the World Bank, and grants.

Abdelmoula explained that the UN’s humanitarian work in Syria focuses on helping people in need, regardless of which political group controls the area.

“Our efforts have included people in regions outside the former regime's control in northwestern and northeastern Syria,” he said.

As the UN Resident Coordinator, Abdelmoula represents the UN in the country.

“The government recognized until December 8 was Bashar al-Assad’s, which is why my credentials were sent to it, as is the usual practice,” he noted.

Abdelmoula also pointed out that the UN’s development work in Syria was halted since 2012 due to a UN decision.

“After the regime fell, we announced that we would resume our development work,” he affirmed.