In the northwest corner of Saudi Arabia lies the treasure trove of AlUla, a region pulsating with history, captivating natural formations, and a rich tapestry of cultural heritage.
AlUla Development Company (UDC), a Public Investment Fund (PIF) company, is entrusted with the task of supporting the development of AlUla and transforming it into a global tourism destination, all while meticulously preserving its unique character and ecological wonders.
Fabien Toscano, CEO of UDC, in an exclusive interview with TTN Middle East, shed light on the company’s alignment with PIF’s strategy to diversify the economy including real estate and tourism, which is aligned with Vision 2030; and on ensuring the cultural legacy of AlUla thrives for generations to come.
Launched in 2023, UDC focuses on developing a world-class portfolio of hospitality, residential, real estate, and commercial assets in AlUla. However, their vision extends far beyond mere luxury; they aim to build a sustainable destination that benefits the entire region, fostering a symbiotic relationship between economic growth and environmental responsibility.
“UDC is a real estate company that will support the next chapter of AlUla’s legacy by developing and operating the world-class destination,” says Toscano. “It will provide unprecedented opportunities to business partners and a chance to be part of its exciting story.”
PARTNERING ECOSYSTEM
Recognising the power of collaboration, the UDC approach extends beyond independent development, offering a wealth of opportunities for both local and international partners. The company fosters a spirit of partnership, aiming to create a dynamic ecosystem where businesses can thrive. This commitment to collaboration is evident in their partnerships with renowned brands like Six Senses, Marriott International, and KUN Investment Holding to develop the Aman Hegra project.
“AlUla Development Company’s hospitality, residential, retail, real estate, commercial and infrastructure assets and projects offer an array of opportunities to both local and international investors with the goal of creating potential partnerships within the public and private sectors.”
The development of Aman Hegra, a breathtaking luxury eco-resort nestled within the UNESCO World Heritage Site of Hegra, serves as a prime example of UDC’s dedication to marrying sustainable practices with unparalleled hospitality experiences.
The partnering ecosystem also looks inwards and means that community development lies at the core of UDC’s philosophy. Their initiatives are designed to empower local businesses, entrepreneurs and residents, creating long-term employment opportunities and fostering a sense of shared ownership in AlUla’s transformation.
“Through various community-driven initiatives such as the recent strategic sponsorship agreement with AlUla FC – where we aim to develop and nurture local talent by offering them unparalleled opportunities in sports, empowering them to achieve their athletic dreams – we continue to contribute to the growth of the local community, making a positive impact on their lives,” Toscano tells us.
MULTIFACETED CHARM
“AlUla’s historical landmarks and hidden stories, which can be experienced through ancient inscriptions and symbols, continue to captivate visitors. The warm hospitality of its people and the culinary offerings further enrich the experience – combining innovative culinary offerings with breathtaking views.”
AlUla’s allure lies in its rich tapestry of history, culture and breathtaking natural beauty. From the awe-inspiring sandstone formations of Hegra, a UNESCO World Heritage Site, to the vibrant and ever-evolving art scene, AlUla offers a kaleidoscope of experiences for every visitor.
History buffs can delve into the ancient Nabataean tombs, deciphering the stories etched in the rocks, while adventure seekers can scale the majestic sandstone cliffs or embark on thrilling desert expeditions.
For those seeking a more introspective experience, the star-studded desert sky offers a moment of unparalleled tranquillity.
DIVERSE EXPERIENCES
“In respect of AlUla’s extraordinary natural beauty and cultural heritage, AlUla Development Company adopts a careful development strategy to preserve and enhance the historical region as it builds and operates a wide array of real estate, development, retail and residential assets.”
UDC’s diverse portfolio caters to a wide range of visitors, ensuring there’s something for everyone to discover within AlUla’s magical embrace.
Caravan by Habitas offers an immersive glamping experience, allowing guests to reconnect with nature and forge meaningful connections with fellow travellers.
Banyan Tree AlUla, a luxurious sanctuary nestled amidst breathtaking scenery, provides a haven for relaxation and rejuvenation.
Habitas AlUla, nestled within a desert oasis, boasts captivating art installations and a focus on wellness and nature exploration.
And for those seeking a truly unique experience, Maraya, the world’s largest mirrored building, offers a breathtaking venue for concerts, art exhibitions, and other cultural events, reflecting the captivating desert landscape in its mirrored facade.
AlUla Development Company is poised to unlock the immense potential of this extraordinary region. By fostering responsible development practices and prioritizing community engagement, UDC is creating a destination that celebrates the past while embracing a sustainable future.