Culminating a landmark year for AlUla, the Royal Commission for AlUla (RCU) is marking its transition from phase one to phase two of its long-term vision, shifting gears towards a new era of sustainable development, community engagement, and economic diversification. At the recent Future Investment Initiative (FII8), Saudi Arabia’s largest investment forum, Abeer M. AlAkel, Acting CEO of the RCU, shed light on AlUla’s ongoing transformation and the ambitious plans that lie ahead. Under the guidance of His Highness Prince Badr bin Abdullah bin Farhan Al Saud, the RCU is steadily working to make AlUla a model for sustainable and resilient urban development in the Kingdom.
From ancient crossroads to modern city
AlUla has long been recognised as an ancient crossroads of civilisation, a place where cultures met and thrived against a backdrop of dramatic landscapes and storied history. Now, this cultural heritage is becoming the foundation for AlUla’s future, with the RCU aiming to balance the preservation of its unique heritage with the demands of modernisation. AlUla is not just being developed as a tourist destination; it’s evolving into a well-managed city with world-class infrastructure that supports year-round growth, investment, and a high quality of life for residents and visitors alike.
Abeer M. AlAkel highlighted the significance of this transition at FII8, stating that the RCU is committed to using AlUla’s natural and cultural assets to unlock economic potential. “We are building a resilient and diversified economy that goes beyond tourism,” AlAkel explained, “and by doing so, we’re creating a compelling future where the past and future can come together.”
Diversifying AlUla’s economy beyond tourism
While tourism remains a cornerstone of AlUla’s economy, the RCU is actively expanding into other sectors to build a more resilient and sustainable economic base. Agriculture, a traditional mainstay of AlUla, is being revived with innovative practices, turning fertile lands into a productive and sustainable sector once again. The commission is also seeking investment from new industries, including film and sports, as these sectors can bring year-round opportunities, diversify the economic landscape, and create jobs.
The integration of diverse industries aligns with Saudi Vision 2030, the Kingdom’s roadmap for economic transformation. By inviting investments into these new sectors, the RCU is helping to build a stable economy less reliant on any single industry, thus fostering resilience against economic fluctuations.
Announcements of new partnerships and initiatives at FII8
At FII8, AlAkel introduced a series of new investment milestones that reinforce AlUla’s potential as a destination for international and domestic investors. Key announcements included the introduction of a Business Incentive Programme designed to attract companies to establish themselves in AlUla. This initiative will encourage long-term investment by offering attractive benefits, thus enabling businesses to flourish in an environment primed for growth.
One of the centrepieces of the RCU’s vision is Sidrat AlUla, an integrated real estate development aimed at creating a new urban landscape. The registration of interest for Sidrat AlUla marks the beginning of a transformative project that will incorporate sustainable architecture, modern infrastructure, and a strong community ethos. AlAkel also unveiled plans for a health and wellbeing centre operated by Tiara Health, underscoring the RCU’s commitment to creating a destination where people can live, work, and thrive for generations to come.
A community-centred approach
At the core of AlUla’s transformation is its local community. The RCU is committed to building an inclusive economy that uplifts and empowers AlUla’s residents. Through job creation, upskilling initiatives, and educational opportunities, the commission is actively promoting community engagement and participation in the region’s development. By encouraging locals to take an active role in AlUla’s future, the RCU is fostering a sense of ownership and pride that will be crucial to the long-term sustainability of the city.
AlAkel emphasised that the RCU’s work is fundamentally about creating a place that respects the past while building a vibrant future. “At the heart of all we do is – of course – our community. By building a resilient and diversified economy, and encouraging active participation through upskilling and job creation, we are creating a compelling future,” she said. This approach ensures that AlUla’s transformation is not only beneficial to investors and visitors but also enhances the lives of its residents.
Looking to the future
As AlUla enters this pivotal second phase, it stands as a beacon of what the future holds for Saudi Arabia. Through innovative development strategies, sustainable practices, and a commitment to preserving cultural heritage, the RCU is transforming AlUla into a model for resilient, high-quality urban living. By aligning with the goals of Saudi Vision 2030, the commission is not only creating a world-class destination but also a sustainable community where past and future seamlessly intersect.
For investors, businesses, and travellers alike, AlUla offers a unique blend of ancient heritage and modern ambition. With initiatives like the Business Incentive Programme and the Sidrat AlUla real estate development, the Royal Commission for AlUla is building a future that honours its storied past while embracing the opportunities of tomorrow. As AlAkel stated, “AlUla is evolving from a tourism destination into a well-managed city; where world-class infrastructure supports a destination primed for year-round growth and investment.”
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Photo top of page – SAFE / Barnes 2024
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