What Soudah Development does

Soudah Development (السودة للتطوير) is a Saudi Arabian real estate development company wholly owned by the Public Investment Fund (PIF), established on February 24, 2021, by Crown Prince Mohammed bin Salman. The company is developing Soudah Peaks (قمم السودة), a luxury mountain tourism destination at Saudi Arabia's highest peak (3,015 meters elevation) in the Asir region, spanning 636.5 km² across Soudah and parts of Rijal Almaa. The masterplan is structured around six themed development zones — Tahal, Sahab, Sabra, Red Rock (Sakhra Hamra), Jrein, and Rijal — with capacity targets of 2,810 hotel rooms, 1,337 residential units, 80,000+ m² of commercial space, and 30+ entertainment attractions. Phase 1 targets delivery of 940 hotel rooms, 391 residential units, and 32,000 m² of commercial space by 2027, with full masterplan completion targeted for 2033.

The company's core technology is a sustainable environmental framework integrating a six-zone masterplan architecture, urban code systems, environmental impact assessments, and heritage documentation systems covering over 200 documented heritage sites including 20 unique rock engravings estimated at 4,000–5,000 years old. Supporting infrastructure includes a wildlife reintroduction program (23 mountain ibex released in 2021, 10 Admi antelope in 2023) with wireless transmitter monitoring, a Million Trees afforestation initiative, and SAR 1.3 billion of contracted electrical infrastructure (132/380 kV substation, 500 MVA capacity) with the National Grid Company. The destination targets 2 million annual visitors by 2033, a cumulative 29 billion SAR GDP contribution, and 10,700+ direct and indirect jobs.

Soudah Development's business model is built on five revenue streams: luxury hospitality and hotel operations (room revenue, F&B, wellness), luxury residential and branded real estate (villa, apartment, chalet sales and leases), retail and commercial space leasing (80,000+ m² to luxury brands and local artisans), tourism and adventure experience revenue (paragliding, mountain biking, hiking, golf, rock climbing), and workforce training services. Pricing is not publicly disclosed as the project is still in development. The company pursues a dual GTM motion — direct enterprise engagement with international luxury hotel operators and institutional investors at events like ATM Dubai, WTM London, ILTM France, and the FII conference, complemented by global media partnerships (notably a one-year Warner Bros. Discovery deal for documentary distribution across Discovery Channel, Travel Channel, Eurosport, YouTube, and Weibo). The board is chaired by the Crown Prince, with CEO Saleh Al-Oraini leading operations, and governance is anchored to Saudi Vision 2030 and the Saudi Green Initiative.

Name

Soudah Development

Legal name

Soudah Development (السودة للتطوير)

Website

https://soudah.sa

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

Soudah Development is a PIF-owned Saudi real estate developer building Soudah Peaks, a luxury mountain tourism destination at Saudi Arabia's highest peak (3,015m) in the Asir region, targeting 2,810 hotel rooms, 1,337 residences, and 2 million annual visitors by 2033.

Ownership category

akta.pro rank

Product category

Luxury Mountain Tourism Destination Development

NAICS

Nature Parks and Other Similar Institutions (71219), Historical Sites (71212), Tour Operators (561520)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Mountain & Adventure All-Inclusive Resorts (THAGAKAH)

akta.pro secondary industries

Ultra-Luxury Villas & Estates (THAMAEAA), Resort-Area Full-Service Hotels (Non–All-Inclusive) (THAGAAAD)

Keywords

• Luxury mountain tourism
• Mountain resort development
• Destination master planning
• Hospitality real estate
• Mixed-use mountain development

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales, Technology or R&D, Supply Chain, Others

Revenue model

1. Luxury Hospitality & Hotel Operations: Development and operation of 2,810 luxury hotel rooms and resorts across six themed development zones, offering premium mountain hospitality experiences year-round. Revenue generated through room bookings, F&B, wellness services, and ancillary hospitality offerings targeting domestic and international luxury travelers.
2. Luxury Residential & Branded Real Estate: Sale and lease of 1,337 residential units (villas, apartments, and chalets) within the development zones, targeting high-net-worth individuals and investors seeking luxury mountain living with curated lifestyle services.
3. Retail & Commercial Space Leasing: 80,000+ square meters of retail and commercial space across the development zones, leased to luxury brands, local artisans, F&B operators, and experiential retailers. Revenue generated through rental income and potentially revenue-sharing arrangements.
4. Tourism & Adventure Experience Revenue: Income from adventure and recreational activities including paragliding, mountain biking, hiking, golf, rock climbing, and horse riding, as well as nature wellness experiences, cultural tours, and event venues across the destination.
5. Tourism & Hospitality Scholarship & Training Services: Programs including international scholarships, on-the-job training, English language courses, and vocational stonemasonry apprenticeships serve the local community while building a skilled workforce pipeline for the destination's hospitality and tourism operations.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Soudah Development develops and operates the Soudah Peaks luxury mountain tourism destination — a 636.5 km² master-planned project at 3,015 meters elevation in the Asir region of Saudi Arabia, comprising six themed development zones (Tahal, Sahab, Sabra, Red Rock, Jrein, Rijal) with 2,810 luxury hotel rooms, 1,337 residential units, 80,000 m² of retail/commercial space, and 30+ entertainment attractions. Revenue is generated through hospitality operations, sale and lease of branded residential properties, retail and F&B leasing, tourism and adventure experience fees, and longer-term real estate appreciation. Supporting community programs include international tourism and hospitality scholarships, vocational stonemasonry apprenticeships, English language and on-the-job training, and environmental initiatives including afforestation and wildlife reintroduction.

Product overview

Soudah Development (السودة للتطوير), a wholly-owned company of Saudi Arabia's Public Investment Fund, is developing the Soudah Peaks (قمم السودة) luxury mountain tourism destination at 3,015 meters elevation in the Asir region. The core offering is the Soudah Peaks destination project spanning 636.5 km² with six development zones (تهلل, سحاب, سبرة, الصخرة الحمراء, جرين, رجال), featuring 2,810 hotel rooms, 1,337 residential units, 30+ entertainment attractions, cycling tracks, hiking trails, golf courses, and wellness centers. Supporting community empowerment programs include an International Tourism and Hospitality Scholarship, Traditional Stonemasonry Apprenticeship, English Language, and On-the-Job Training programs. Environmental initiatives include the Million Trees planting and Wildlife Conservation programs.

Differentiator

Problem solved

Functional benefit

Brands

• Soudah Peaks: Main luxury mountain tourism destination project at 3,015 meters elevation covering 636.5 km² in Asir region, featuring 6 development zones: Tahalal, Sahab, Sabra, Red Rock, Jareen, and Rijal.

Products and services

• Soudah Peaks (قمم السودة)
• Cycling Tracks
• Tourism and Hospitality Scholarship Program
• Traditional Stonemasonry Apprenticeship Program
• English Language Program
• On-the-Job Training Program
• Million Trees Initiative
• Wildlife Conservation and Release Program

Quantifiable outcome

• Target of 2 million visitors annually by 2033
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

20 partnerships are on record, tiered core and supporting.

• National Grid (الشركة الوطنية لنقل الكهرباء)coreImplementation/ SI/ Consulting Partner · 2 December 2025SAR 1.3 billion agreement with the National Grid Company (wholly owned by Saudi Electricity Company) to design and build an integrated electrical infrastructure for Soudah Peaks. Includes a 132/380 kV central substation with 500 MVA capacity and two 13.8/132 kV secondary substations, forming the core electrical backbone for all tourist, residential, commercial, and public facilities.
• WSPcoreStrategic or Co-development Partner · 10 November 2025Strategic agreement with global professional services leader WSP to develop a regional planning framework for the Soudah Peaks project and surrounding areas. The framework defines land use, development controls, and governance mechanisms, emphasizing environmental sustainability and cultural preservation, in alignment with Saudi Vision 2030.
• Future Investment Initiative (FII) InstitutecoreGTM or Marketing Partner · 1 October 2025Strategic partnership with the FII Institute (non-profit global institution) to advance strategic investments in Soudah Peaks. The collaboration includes joint initiatives and thought leadership platforms throughout the year, generating actionable insights and promoting sustainable growth solutions ahead of and following the FII9 conference in Riyadh.
• AECOMcoreImplementation/ SI/ Consulting Partner · 28 November 2024Appointed as lead design consultant for Phase 1 of the Soudah Peaks project. AECOM, a globally leading infrastructure advisory firm, provides architectural and engineering design, construction management, environmental services, and program management. The appointment represents a major milestone in the project's development and reflects the company's commitment to sustainability in design and development.
• The Royal Institute of Traditional Arts (WRTH) [المعهد الملكي للفنون التقليدية]coreStrategic or Co-development Partner · 6 November 2024Launched Saudi Arabia's first traditional stonemasonry apprenticeship program — a 12-month vocational training program in traditional architecture and building techniques — aimed at preserving local cultural heritage and empowering Saudi craftsmen. Three-phase program: traditional stone construction introduction (6 months), restoration techniques with modern tools (6 months), and advanced skills development (6 months). Trainees receive a monthly stipend and direct expert supervision.
• Warner Bros. Discovery InternationalcoreGTM or Marketing Partner · 29 May 2024One-year media partnership to produce short documentary films about the natural landscapes, cultural heritage, traditions, unique architecture, and local community customs of Soudah and Rijal Almaa. Content will be broadcast across WBD's European, US, MENA, and African television and digital platforms, including Discovery Channel, Travel Channel, Eurosport 1 and 2, YouTube, and Weibo in China.
• The Royal Institute of Traditional Arts (WRTH) [المعهد الملكي للفنون التقليدية]supportingStrategic or Co-development Partner · 28 November 2023Cooperation to develop human capabilities in the field of traditional arts, building on the partnership to preserve and promote traditional crafts and cultural heritage in the Asir region.
• National Center for Wildlife Development (المركز الوطني لتنمية الحياة الفطرية)coreStrategic or Co-development Partner · 22 November 2023Ongoing collaboration to reintroduce endangered wildlife species to their natural habitats. Releases have included 23 mountain ibex (2021) and 10 Admi antelope (2023), with ongoing monitoring via wireless transmitters on each animal. Birth of multiple ibex kids documented in the wild, demonstrating successful ecological restoration.
• ParsonscoreImplementation/ SI/ Consulting Partner · 20 February 2022Contracted to provide project management and construction consulting services for Soudah Peaks. With over 65 years of regional presence and 6,000+ employees, Parsons brings expertise in urban development, smart mobility, asset management, design, urban planning, sustainability, and landscape architecture. The partnership supports Vision 2030 objectives for tourism and entertainment sector development.
• United Nations World Tourism Organization (UNWTO)supportingStrategic or Co-development Partner · 1 December 2021Soudah Development became an associate member of the UNWTO, the 25th member from the Middle East region in an alliance of over 500 members. Membership provides a platform for dialogue, information exchange, and collaboration to promote tourism and contribute to UN Sustainable Development Goals.
• Ministry of Tourism (Saudi Arabia)coreStrategic or Co-development Partner · 22 November 2021Initial MoU to develop human capabilities and empower the local workforce in the tourism sector, laying the foundation for training and capacity-building programs in the Asir region.
• UN Mountain PartnershipsupportingStrategic or Co-development Partner · 17 November 2021Soudah Development became a member of the UN Mountain Partnership, the first real estate development company in Saudi Arabia and the Gulf to join. The partnership, with over 400 global members, aims to protect mountain environments, improve livelihoods for mountain communities, and exchange best practices in sustainable mountain development.
• KAUST Beacon CompanysupportingTechnology or Integration · 21 October 2021Partnership with the Beacon company affiliated with King Abdullah University of Science and Technology (KAUST) to conduct environmental impact assessments for development projects, ensuring scientifically rigorous environmental due diligence.
• Aseer Region Municipality (أمانة منطقة عسير)supportingImplementation/ SI/ Consulting Partner · 29 August 2021Collaboration to monitor and remove sources of visual pollution, improve the urban landscape, and create an attractive tourism environment in the project area. Covered main roads including Al-Baha-Soudah Road 214, Taba Road 2520, Aqabat Al-Samra Road 2442, and the main Rijal Almaa Road 211.
• National Center for Vegetation Coverage Development and Combating Desertification (المركز الوطني لتنمية الغطاء النباتي ومكافحة التصحر)coreStrategic or Co-development Partner · 2 August 2021MoU to preserve the natural wealth of Soudah and Rijal Almaa through vegetation coverage development and combating desertification, supporting the Saudi Green Initiative and environmental sustainability goals of the project.
• Saudi Coffee Company [شركة القهوة السعودية]supportingStrategic or Co-development PartnerCollaboration to support local coffee farmers through training on sustainable practices, improving crop quality and increasing revenues. Leverages the region's distinguished reputation for high-quality coffee production to create economic opportunities.
• Tourist Villages Cooperative Society in Rijal Almaa [جمعية القرى السياحية التعاونية في رجال ألمع]coreStrategic or Co-development PartnerPartnership focused on preserving architectural heritage through restoration of historic sites and promoting sustainable tourism. Emphasizes community participation and ensuring continuity of the region's cultural identity for future generations. Includes emergency restoration of Sheikh's Fort, Beit Al-Nahl, and Hamidiyah Fortress in Jrein zone.
• International Council on Monuments and Sites (ICOMOS)supportingStrategic or Co-development PartnerCollaboration focused on preserving cultural and natural heritage in Soudah Peaks, including approximately 200 documented heritage sites. Aims to empower the local community by creating economic opportunities in tourism and heritage sectors and ensuring community involvement in preserving this legacy.
• Ministry of Tourism (Saudi Arabia)coreStrategic or Co-development PartnerCollaboration to enable the local community through training programs in tourism and hospitality, creating thousands of jobs by 2033, supporting small businesses, and building a skilled workforce to drive economic growth and meet rising tourism demand in the region.
• Saudi Heritage Preservation Society [الجمعية السعودية للمحافظة على التراث]supportingStrategic or Co-development PartnerMoU to strengthen cooperation in protecting and documenting tangible and intangible cultural heritage in the Soudah Peaks project areas. Includes support for registering heritage elements on international lists, documenting oral narratives, developing a joint digital heritage database, and implementing training programs in documentation, enumeration, and handicrafts for local residents.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Red Sea Global: Saudi PIF-owned developer of the Red Sea luxury island destination. Direct peer because it shares the same sovereign sponsor, same Vision 2030 mandate, same luxury hospitality + residential + commercial mix, and overlapping international operator partnerships.
• Royal Commission for AlUla (AlUla Development Company): Government-backed heritage-and-luxury tourism developer in Saudi Arabia. Direct peer given aligned heritage-preservation mandate, similar tourism-diversification remit under Vision 2030, and overlapping high-end operator partnerships (e.g., Aman, Habitas).
• NEOM / Trojena: Saudi PIF-owned NEOM's Trojena mountain-destination project. Direct peer because it is the most direct competitor — another Saudi mountain tourism masterplan targeting year-round activity, adventure sports and luxury hospitality at high elevation.
• Jabal Omar Development Company: Saudi-listed developer of a luxury mixed-use hospitality and residential destination near the Grand Mosque in Makkah. Direct peer given shared Saudi origin, large-scale master-planned hospitality/residential mix, and premium-leisure positioning with global operator tie-ups.
• Diriyah Company: Saudi PIF-owned developer of the Diriyah heritage and cultural destination near Riyadh. Direct peer due to overlapping PIF ownership, similar heritage-tourism positioning, and the comparable mix of cultural restoration, branded residences and luxury hospitality.

Broad incumbents

• Six Senses Hotels Resorts Spas (IHG): Global ultra-luxury wellness and mountain resort brand now part of IHG. Broad incumbent comparable because it defines the luxury wellness-and-adventure benchmark that Soudah is targeting in its adventure/wellness revenue streams and is a likely operator partner rather than direct competitor.
• Aman Resorts: Ultra-luxury global resort brand with iconic mountain properties (e.g., Aman Le Mélézin, Aman Kyoto). Broad incumbent comparable because the brand defines the apex pricing and experiential standard that Soudah's residences and hotels will benchmark against — and could be an operating partner.
• Orascom Development Holding: Public owner-operator of integrated mountain-town destinations including Andermatt Swiss Alps and El Gouna. Broad incumbent comparable as an established developer-operator of large integrated mountain/lifestyle destinations with a hospitality + residential + retail mix.

Regional players

• Bürgenstock Resort (Lake Lucerne, Switzerland): Mountain-lake luxury integrated resort in Switzerland with mixed hospitality, residences, wellness and F&B. Regional player comparable for the operating model of a self-contained luxury mountain destination rather than direct competition geographically.

Others

• Tourism Development Fund (Saudi Arabia): Saudi government tourism-funding entity. Relevant ecosystem participant because it co-finances and de-risks the same tourism-supply chain (training, SMEs, hospitality operators) that Soudah depends on for talent and tenants.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/soudahdevco

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Soudah Development