Royal Commission for AlUla to invest $3B in 2024: Official

Sultan Albooq, General Council at the Royal Commission for AlUla

The Royal Commission for AlUla (RCU) aims to inject $3 billion investments in AlUla region this year, along with over $10 billion funds pumped to date, Sultan Albooq, General Council at RCU, told Asharq News on the sidelines of the World Economic Forum (WEF).

The capital spending on hospitality projects, etc. will increase to $20 billion by 2030, Albooq said, adding that projects under development in the region will emerge by 2035.

Moreover, 180,000 people visited AlUla in 2023. He expected the number of visitors to reach 250,000 this year, adding that AlUla eyes 1.2 million visitors by 2030.

The number of hotel rooms in AlUla reached 1,000. RCU targets 5,000 and 9,000 keys by 2030 and 2035, respectively.

RCU aims to make AlUla an attractive investment destination locally or globally, Albooq noted, adding that it offers several incentive packages to make investments feasible.