<The Royal Commission for the Governorate of AlUla has announced the launch of an ambitious plan to introduce 21 new investment projects with a total value of SAR 6 billion (USD 1.6 billion), as part of AlUla's efforts to achieve the goals of Vision 2030 to diversify the economy and reduce dependence on oil revenues.
The Ula Governorate investment plan aims to attract private capital and diversify the sources of funding for its major development projects. According to Philip Jones, CEO of Tourism at the Royal Commission for Ula Governorate, on the sidelines of the Reuters Next Gulf Summit, the new projects will be announced by the end of this year or early next year, noting that Ula has secured funding for its budget for the next five years.
Jones explained that Ula Governorate is moving strongly towards attracting private investments to diversify its financing portfolio, and aims to increase the number of annual visitors from 300,000 currently to about one million visitors by 2030, pointing out that AlUla is preparing to complete the second phase of its development plan by 2030, in preparation for launching a third phase that provides more investment opportunities.

AlUla is preparing to complete the second phase of its development plan by 2030, in preparation for the launch of a third phase that provides more investment opportunities.