RIYADH: Saudi Arabia’s Public Investment Fund–owned Soudah Development has signed a strategic partnership with the Future Investment Initiative Institute to advance sustainable investment and tourism in the Aseer region.
The collaboration, unveiled ahead of the FII9 conference in Riyadh from Oct. 27 to 30, will see both entities cooperate on thought leadership programs, global forums, and innovation initiatives aimed at promoting environmental responsibility and community development, the company said in a statement.
Established in 2021, the company aims to develop Soudah and parts of Rijal Almaa into a world-class luxury mountain tourism destination, emphasizing authentic cultural experiences and immersion in nature in line with Saudi Vision 2030.
Saudi Arabia’s tourism sector has exceeded expectations, hitting its original Vision 2030 target of 100 million visitors seven years early, and now aims for 150 million tourists by the end of the decade.
Richard Attias, chairman of the executive committee and acting CEO of the FII Institute, said: “Tourism is a powerful engine for economic growth and cultural exchange, but its future depends on regenerative approaches that restore ecosystems, empower communities, and preserve authenticity.”
He added: “Together, we aim to demonstrate how tourism can be both a driver of prosperity and a catalyst for long-term resilience.”
The partnership underscores the FII Institute’s focus on sustainable investment and supports Soudah Development’s efforts to advance tourism and economic growth
“Saudi Arabia is accelerating the realization of Vision 2030, and Soudah Development is proud to be contributing through Soudah Peaks, the Kingdom’s first luxury mountain destination,” said Saleh Aloraini, CEO of Soudah Development.
He added: “As a strategic partner of FII Institute, we are showcasing how this flagship project is driving the development of the Aseer region, attracting investment, and advancing the Kingdom’s economic diversification agenda.”
