Royal Commission for AlUla confirms USD 15 billion masterplan opportunity for public-private partnerships
With an estimated total development value of over USD 15 billion (SAR 57 billion), the world's largest oasis regeneration project – The Journey Through Time Masterplan – will create opportunities for responsible investment
USD 3.2 billion (SAR 12 billion) to be dedicated to the development of priority primary infrastructure with opportunities for private investment
USD 2 billion in government-backed seed funding already invested in critical projects, de-risking investment opportunities
ALULA, Saudi Arabia, April 28, 2021 /PRNewswire/ -- On the anniversary of the announcement of Vision 2030, The Royal Commission for AlUla (RCU) today confirmed that its regeneration project – The Journey Through Time Masterplan – represents a USD 15 billion (SAR 57 billion) opportunity for responsible investment in public-private partnership projects.
The Journey Through Time Masterplan, a roadmap to protect 200,000 years of natural and human history across the 20km-long core historical area of AlUla, is anchored by the regeneration of five heritage districts. It aims to set the benchmark for responsible and impactful investment in destination development by building social, economic and environmental sustainability into its blueprint. The masterplan aims to create a robust investment opportunity in AlUla, contributing to the diversification of the Saudi economy and creation of jobs as well as wider opportunities for the local community – all key goals of Saudi Vision 2030.
"With an estimated total development value of over USD 15 billion, The Journey Through Time Masterplan is an important opportunity to showcase AlUla's full potential. By de-risking investment opportunities through our USD 2 billion (SAR 7.5 billion) seed funding and creating a robust governance framework, we have created a platform for responsible and sustainable development to regenerate a unique location featuring a UNESCO World Heritage Site," stated Amr AlMadani, Chief Executive Officer of the Royal Commission for AlUla. "With USD 3.2 billion reserved for priority primary infrastructure, the development of AlUla will be anchored in building strong foundations as well as safeguarding AlUla's cultural and heritage assets."