AlUla’s Sharaan Resort closer to completion with rock excavation at site 

Sharaan Resort excavation. Royal Commission for AlUla
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Updated 25 March 2024
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AlUla’s Sharaan Resort closer to completion with rock excavation at site 

RIYADH: A 38-suite resort in AlUla is a step closer to completion after the city’s royal commission announced the inaugural rock excavation at the development’s site.  

The Royal Commission for AlUla has marked this as a significant milestone in the development of the Sharaan Resort, set to open in 2024, according to a statement.   

This move falls in line with the project’s uniqueness, which lies in having excavated areas structured on top of each other.  

This comes as RCU and its contractor partners have developed construction techniques which takes the ancient practice of creating spaces within rocks and then applying modern engineering methods to make habitable spaces that are similar to modern-day expectations.   

“The Sharaan Resort is our most ambitious project yet. This initial excavation is tangible evidence of our continued efforts to develop AlUla into a premier destination that harmonizes luxury tourism with the preservation of unique cultural and natural heritage,” Chief Development and Construction Officer at RCU Ben Hudson said.   

“Our work is fully guided by RCU’s environmental, social and health impact processes, and we are ensuring that all stakeholders appreciate the special location we are working in,” Hudson added.

The development, aligned with Saudi Arabia’s Vision 2030 and the AlUla Sustainability Charter, represents RCU’s dedication to pioneering eco-conscious building practices. 

It also serves as a model for innovative planning, creative construction techniques, and operational strategies designed to minimize environmental impact while elevating the luxury tourism experience in northwest Arabia.

RCU’s commitment to the Sharaan Resort cements its goal to transform AlUla into a leading global destination and the world’s largest living museum, dedicated to advancing sustainable hospitality.

In June, construction work for the project began.

At the time, an agreement was inked between officials from the RCU and Bouygues Construction, a French engineering group that would manage the retreat’s development through a joint venture with Almabani, a leading Saudi engineering firm.

“The resort was designed with complete reverence for the human and natural history of AlUla, and we are committed to sustainable building practices in line with this same philosophy,” Mohammed Altheeb, RCU chief development and construction officer said at the time. 


The Family Office to host global investment summit in Saudi Arabia

Updated 18 January 2026
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The Family Office to host global investment summit in Saudi Arabia

RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.

The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.

The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.

Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.

Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.

The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.

The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.

With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.

The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.