His Royal Highness Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, today, Sunday, patronized the launch of Al Khobar Downtown, a project by Saudi Downtown, a PIF company within the Urban Development & Livability ecosystem. The ceremony was attended by HRH Prince Saud bin Bandar bin Abdulaziz, Deputy Governor of the Eastern Region, and Eng. Ibrahim Mohammed Al-Sultan, Chairman of the Board of Directors of Saudi Downtown.
The project aims to develop an integrated urban destination on the waterfront of Al Khobar Governorate, bringing together residential, business, retail, and entertainment offerings.
HRH the Eastern Region Governor affirmed that the development and investment projects taking place across the region reflect the wise leadership’s continued commitment to comprehensive development, urban development, and economic diversification. These efforts help leverage the region’s potential and advance its development journey. His Royal Highness also emphasized the importance of supporting the local economy and fostering investment opportunities in line with the aspirations of the region and its residents.
Saudi Downtown CEO Eng. Fahad Alhammad explained that Al Khobar Downtown spans more than 829,000 square meters along the waterfront. The project features more than 4,000 residential units, over 500 hotel rooms, more than 40,000 square meters of office space, over 139,000 square meters dedicated to retail, restaurants, and cafés, and more than 103,000 square meters of green spaces and public parks.
Alhammad emphasized that the project creates opportunities for growth and partnerships, supports the tourism, hospitality, and retail sectors, and generates direct and indirect employment opportunities, contributing to sustainable economic development in the Eastern Region.
He added that the project represents an important step toward creating an integrated urban environment that reflects Al Khobar’s identity and aligns with its future aspirations, positioning it as a vibrant urban heart. He also noted that Saudi Downtown’s projects build on the Public Investment Fund’s efforts to develop regions across the Kingdom by leveraging their respective strengths and competitive advantages and translating them into investment opportunities that enhance their economic appeal. At the conclusion of the ceremony, HRH the Eastern Region Governor honored the supporting entities.
Al Khobar Downtown represents an important step toward creating an integrated urban environment that reflects Al Khobar’s identity and aligns with its future aspirations, positioning it as a vibrant urban heart.
Saudi Downtown’s projects build on the Public Investment Fund’s efforts to develop regions across the Kingdom by leveraging their respective strengths and competitive advantages and translating them into investment opportunities that enhance their economic appeal. These efforts also reflect the Fund’s role in empowering the private sector and expanding investment partnerships, contributing to sustainable economic and social value that extends to cities and local communities.
Saudi Downtown, a PIF company within the Urban Development & Livability ecosystem, develops and builds vibrant urban destinations and mixed-use centers that generate sustainable economic and social value across cities in the Kingdom. The company’s projects are designed to stimulate local economic activity, enhance quality of life, and expand the range of choices across multiple sectors, including retail, entertainment, hospitality, tourism, office spaces, and residential offerings.
