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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.

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Pakistan FM to Asharq Al-Awsat: Eastern Neighbor’s Ambitions Fueled by Dominance Desire

Pakistan’s Foreign Minister Mohammad Ishaq Dar
Pakistan’s Foreign Minister Mohammad Ishaq Dar
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Pakistan FM to Asharq Al-Awsat: Eastern Neighbor’s Ambitions Fueled by Dominance Desire

Pakistan’s Foreign Minister Mohammad Ishaq Dar
Pakistan’s Foreign Minister Mohammad Ishaq Dar

Saudi Arabia and Pakistan enjoy a special relationship with close cooperation on many issues. Pakistan’s Foreign Minister Mohammad Ishaq Dar described this bond as deep and long-standing, highlighting Saudi Arabia’s crucial support for Pakistan’s growth and prosperity.

Saudi Arabia hosts 28% of Pakistani expatriates, reflecting the strong ties between the two nations.

Pakistan’s top diplomat, in an interview with Asharq Al-Awsat, emphasized the importance of Saudi investments in strengthening the relationship between the two countries.

Dar highlighted shared priorities in promoting stability and addressing security threats in the Middle East, noting that recent security collaborations have further enhanced their ties.

The minister accused India of having expansionist ambitions in South Asia, particularly targeting Pakistan. He expressed concern over India’s growing military imports and its use of military power to intimidate neighboring countries.

Dar also stated that Pakistan will not recognize Israel until a fair resolution for the Palestinians is achieved. He highlighted that recent escalations show the consequences of Israel’s actions and ongoing violations of international law.

The minister stressed the enduring support between Pakistan and Saudi Arabia, driven by geographical proximity, religious and cultural ties. Both countries are focused on boosting bilateral trade, surpassing $2.5 billion, and sealing investment deals.

The Saudi Crown Prince had reiterated the Kingdom’s commitment to accelerating investment initiatives.

Dar pointed out the regular exchanges between business, civilian, and military leaders of both countries, showing the deep fraternal bond. He stressed the robust economic, political, and defense relations between Pakistan and Saudi Arabia, noting their shared interests.

He emphasized the vital role of Saudi support in Pakistan’s development, saying it strengthens the partnership.

Dar also noted an unprecedented level of bilateral exchanges and hoped the ongoing meetings between Pakistani and Saudi businessmen would benefit Pakistan economically.

The minister emphasized the vital role of Saudi investments in boosting fraternal relations. He expressed Pakistan’s interest in turning this connection into a mutually beneficial economic partnership.

Pakistan sees itself as an attractive market with untapped potential, offering significant benefits to partners.

Both Pakistan and India joined the Shanghai Cooperation Organization (SCO) in 2017.

When asked about the SCO’s role in reducing tension, Dar explained that while SCO forums allow member states to discuss common interests, they focus on enhancing multilateral cooperation and don't address bilateral issues.

He mentioned Pakistan’s organization of practical cooperation events as the current chair of the SCO Council of Heads of Government, with participation from India and other member states during 2023-2024.

Dar expressed concerns about India’s expansionist mindset, especially towards Pakistan, and its military buildup to assert dominance in South Asia. He highlighted worries about India’s increasing military imports, which could destabilize the region and upset strategic balance.