Saudi Arabia’s Public Investment Fund has launched Gulf Coast Development Company to deliver a large-scale tourism and residential destination on the Al-Khafji coast in the Kingdom’s Eastern Province.
The project will cover around 20 square kilometres and include a 10-kilometre waterfront along the Arabian Gulf. Its position near Kuwait and other Gulf markets gives the scheme strategic value for regional hospitality, tourism, residential and leisure development.
For organisations working across destination planning, attraction design, hospitality, public realm, cultural programming and mixed-use development, the launch signals another major procurement and partnership opportunity linked to Saudi Arabia’s wider tourism and real estate growth plans.
Gulf Coast Development Company is expected to work with private-sector partners, as well as local and regional investors, to respond to demand for accommodation and visitor infrastructure in the northern Eastern Province.
Mixed-Use Model With Tourism And Residential Scale
Once complete, the destination is planned to include eight residential neighbourhoods with more than 16,000 housing units. The masterplan also includes around 1,400 hotel keys, commercial areas, tourism facilities, educational components and dedicated boat marinas.
This combination points to a destination model designed around long-term community use as well as visitor economy activity. Rather than focusing solely on hotels or leisure assets, the scheme brings together housing, waterfront access, hospitality, learning infrastructure and marine facilities.
For B2B suppliers, this creates a broad project ecosystem. Potential areas of demand could include masterplanning, landscape architecture, attraction strategy, marina design, hotel development, wayfinding, placemaking, cultural interpretation, F&B planning, transport integration and destination operations.
The inclusion of educational facilities also suggests scope for knowledge-based programming and community-facing services, giving the project a broader role than a conventional waterfront resort.
Phased Delivery Through To 2030
Development is planned across three phases, with the first phase scheduled for completion in 2030. This initial stage will include three neighbourhoods and establish the platform for the wider tourism and residential community.
A phased approach will be important for managing infrastructure, utilities, public realm, commercial activation and investor confidence. For major mixed-use destinations, early delivery phases often define the operating character of the site and set performance expectations for later stages.
PIF has placed the project within its Urban Development and Livability ecosystem under its 2026-2030 strategy. This positions Gulf Coast Development Company within a broader national agenda covering real estate growth, quality of life, private-sector participation and long-term value creation.
Saad Alkroud, PIF’s head of Local Real Estate Investments, has indicated that the development will build on Al-Khafji’s cultural and logistical strengths while creating opportunities for residents, improving infrastructure and increasing private-sector involvement.
Relevance For The Visitor Experience Sector
The Al-Khafji project arrives as Saudi Arabia continues to grow its tourism and real estate sectors under Vision 2030. The Kingdom has already passed its original target of 100 million annual visitors and is now aiming for 150 million visitors by 2030.
For the international visitor experience supply chain, the project adds to a growing pipeline of large-scale Saudi developments requiring specialist design, operations and delivery expertise. Its Gulf Coast location, waterfront scale and mixed-use structure may create opportunities for firms with experience in family attractions, cultural destinations, waterfront leisure, hospitality environments and public space programming.
PIF’s wider financial position also provides context for the scale of activity. The fund reported revenue of $120bn in 2025, up 9% year on year, while net profit rose to $17bn. Assets under management exceeded $900bn, with most assets allocated domestically.
For global experience-sector businesses, Gulf Coast Development Company should be viewed as part of Saudi Arabia’s continuing move to build liveable, investment-led destinations that combine tourism, residential growth and regional economic development.
