Announcement archive · 7 September 2026
PIF launched Gulf Coast Development Company to develop a residential and tourism destination in Al-Khafji, according to its 7 September announcement.
The plan spans around twenty square kilometres, including a ten-kilometre waterfront. At completion it is intended to include eight neighbourhoods, more than 16,000 homes, about 1,400 hotel keys and marinas.
Development is planned in three phases with private sector participation. The first phase is scheduled for 2030. These are development plans and targets; the stated homes and hotel capacity should not be presented as already completed.
Source: Public Investment Fund. Reporting date: 2026-09-07.
