Royal Commission for AlUla inks strategic partnerships to promote business development

Signing agreement ceremony

The Royal Commission for AlUla (RCU) signed two prominent strategic partnerships to support the business development process in AlUla, as it moved from the planning stage to implementation, following the launch of its masterplan in April this year.

The agreements signed during the Future Investment Initiative (FII) with California-based AECOM and a French consortium, comprising Assystem, Egis and Setec, set a comprehensive development schedule, based on three phases to be implemented in a row until 2035, Saudi Press Agency reported.

The development value of the first phase amounted to SAR 57 billion, where it will be invested in the historic area of AlUla, which extends 20 kilometers, and includes many social and economic projects in the five regions, in addition to focusing on the sectors of infrastructure, hospitality, arts, culture and social and community development.

Under the agreement, AECOM will provide a range of integrated services in four key areas, namely, the Project Delivery Office, which will work with the commission to implement best practices, complete project requirements from design to construction and operation, develop professional skills, and provide opportunities for human cadres in AlUla by investing in training 400 young people to help them obtain specialized job qualifications.

Amr Almadani, Chief Executive Officer (CEO) of RCU, said that these strategic partnerships are necessary to establish the standard of sustainable tourism, and partnerships that will accelerate business and investment opportunities, starting from 2022.

In April this year, Crown Prince Mohammed bin Salman launched “The Journey Through Time” masterplan to turn AlUla into a global destination for travelers offering heritage, nature, art and culture, in line with Vision 2030, according to data compiled by Argaam.