PIF-owned Soudah Development joins UN's ‘Mountain Partnership’

Saudi Arabia’s Crown Prince Mohammed bin Salman launched the Soudah Development Company in February (SPA)
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Updated 17 November 2021
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PIF-owned Soudah Development joins UN's ‘Mountain Partnership’

JEDDAH: Saudi Arabia's Soudah Development (SD) is the first real estate development company to become a member of the UN's Mountain Partnership, a statement revealed.

Owned by the Public Investment Fund (PIF), SD aims to enhance building environmental sustainability through joining the program.

The Mountain Partnership, established in 2002, is a voluntary alliance of more than 400 global members, including government organizations, private companies, and civil society groups committed to improving the lives of local communities and protecting mountain systems.

SD aims to lead the development of a luxury mountain tourism destination, in Asir, southwestern Saudi Arabia.


India seals $3bn LNG agreement with UAE

Updated 19 January 2026
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India seals $3bn LNG agreement with UAE

  • Leaders hold talks to strengthen trade, defense ties

NEW DELHI, DUBAI: India signed a $3 billion deal on Monday to buy liquefied natural gas from the UAE, making it the Gulf country’s top customer, as the leaders of both countries held talks to strengthen trade and defense ties.

The agreement was signed during a very brief two-hour visit to ‌India by UAE ‌President Sheikh Mohammed bin Zayed Al-Nahyan for talks with Indian ‌Prime Minister Narendra Modi. 

They pledged to double bilateral trade to $200 billion in six years and form a strategic defense partnership.

Abu Dhabi state firm ADNOC Gas will supply 0.5 million tonnes of LNG a year to India’s Hindustan Petroleum Corp. for 10 years, the companies said.

ADNOC Gas said the agreement brings the total value of its contracts with India to over $20 billion.

“India is now the UAE’s largest customer and a ‌very important part of ADNOC Gas’ LNG strategy,” ‍the company said.

The UAE is ‍India’s third largest trading partner and Sheikh Mohammed was accompanied ‍by a government delegation that included his defense and foreign ministers. The two sides signed a letter of intent to work toward forming a strategic defense partnership, India’s Foreign Secretary Vikram Misri told reporters.

Misri, however, said that the signing of the letter of intent with the UAE does not mean that India will get involved in regional conflicts.

“Our involvement on the defense and security front with a country from the region does not necessarily lead to the conclusion that we will get involved in ‌particular ways in the conflicts of the region,” he said.