PIF introduces Gulf Coast Development Company for Al Khafji destination

Original announcement: 07 September 2026.

PIF announced Gulf Coast Development Company on 7 September 2026 to develop a coastal residential and tourism destination in Al Khafji. The project is planned to cover around 20 square kilometres, including a waterfront extending approximately 10 kilometres.

What the announcement covers

The announcement describes a phased development with housing, hospitality, public facilities and marinas. At full completion, plans include more than 16,000 housing units and around 1,400 hotel keys. The first phase is scheduled for 2030.

Private sector and regional investor participation form part of the proposed development approach. The story highlights Al Khafji’s position near Kuwait and other Gulf markets. The published figures describe the planned destination and its future phases, rather than completed or currently operating facilities.

Source: PIF · official announcement. Checked 16 October 2026. Image credit: PIF.