The project is expected to benefit the country’s luxury tourism sector. Credit: Newsbeat Wire/GlobeNewswire.

Saudi Arabia-based Soudah Development has revealed its master plan for a new project, Soudah Peaks, in Soudah and Rijal Almaa in the Aseer region of the country.

This new project is set on the country’s highest peak and is intended as a luxury mountain tourism destination.

The project is considered an important part of the country’s Public Investment Fund’s (PIF) attempts to expand its economy by developing key sectors such as hospitality, tourism and entertainment while contributing to Aseer’s development strategy.

By 2033, Soudah Peaks is set to feature 2,700 key hotels, 1,336 housing units, and 80,000m² of commercial space, and intends to provide hospitality services to more than two million visitors per year.

The project will be constructed in three phases, with Phase I comprising 940 hotel keys, 391 residential units and 32,000m² of retail space, with an expected finished date in 2027.

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Each zone will offer hotels, mountain resorts, residential chalets, villas, mansion sites, entertainment services and commercial facilities.

The zones will also include outdoor amenities dedicated to sports, wellness, adventure and culture.

Soudah Development is a closed joint-stock company wholly owned by the PIF.

Saudi Arabia Crown Prince and Soudah Development Board of Directors chair Mohammed bin Salman said that Soudah Peaks is aligned with the country’s Vision 2030 goals.

Bin Salman added: “Soudah Peaks will be a significant addition to the tourism sector in Saudi Arabia and place the Kingdom on the global tourism map, whilst highlighting and celebrating the country’s rich culture and heritage.”