PIF-owned Soudah Development sets sustainability as core of vision for Saudi luxury destination

Special PIF-owned Soudah Development sets sustainability as core of vision for Saudi luxury destination
Srdan Susic, chief destination sustainability, Soudah Development, highlighted the company’s approach to integrating environmental concerns with development goals. AN Photo
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PIF-owned Soudah Development sets sustainability as core of vision for Saudi luxury destination

PIF-owned Soudah Development sets sustainability as core of vision for Saudi luxury destination

RIYADH: Soudah Development, a company backed by the Public Investment Fund, is placing sustainability at the core of its plan to transform Saudi Arabia’s southern region into a premier ultra-luxury destination.  

The company's commitment to ecological preservation and long-term climate resilience was highlighted at COP16 in Riyadh. 

Speaking to Arab News on the sidelines of COP16 in Riyadh, Srdan Susic, chief destination sustainability, highlighted the company’s approach to integrating environmental concerns with development goals. “We believe that without nature, you don’t have the people. Without people, you don’t have heritage. Without nature, without heritage, you don’t have a destination that we want to build,” he said.   

Soudah’s sustainability strategy includes proactive climate adaptation, ecosystem restoration, and rewilding. To date, the company has planted nearly 250,000 native trees, with a goal of one million by 2030. In addition, flagship species have been reintroduced into protected areas to promote natural recovery.  

“We want our ecosystems to continue providing ecosystem services for the communities who live there and for future visitors,” Susic added.  

The company is also focused on preparing for the long-term challenges of climate change. “Climate change adaptation is a process where you say there is climate change, there are going to be negative effects. Let me get as better prepared as I can for the future to mitigate these effects,” Susic explained.  

He emphasized that this approach would not only ensure sustainability but also enhance operational efficiency and financial viability. 

“Our hotel and other asset operators will be more willing to come to us because we are aware of our sustainability goals. Our insurers, the companies who will insure our assets for the next 40, 50, or 60 years of operation, will charge us less money because we know what the risks are and how to mitigate them.” 

Located at 3,015 meters above sea level, the Soudah Development project will feature 3,000 ultra-luxury hotel rooms, villas, and second homes, along with retail and infrastructure developments. 

It is expected to create jobs and provide new economic opportunities for local communities. “Soudah is very proud that we are a very important part of this vision and that we are helping to reduce the oil dependency of this country,” Susic said. 

Partnerships and future plans   

The company is finalizing several memoranda of understanding with government entities and a royal commission, aimed at supporting reforestation efforts and increasing the region’s biodiversity.  

One such agreement, with the Saudi Coffee Co., will involve planting coffee trees to boost both the local environment and the economy. “The agreements Soudah is planning to sign by the end of the year are very implementable, very efficient, and very precise,” Susic noted. 

Soudah Development’s efforts align with Saudi Arabia’s broader economic diversification goals. “We believe that Saudi Arabia is doing a big shift in its economic planning for the next generation to come,” Susic said.  

With a focus on tangible outcomes, Soudah Development aims to lead by example. “If you read our sustainability reports, you will see that we use past tense — we have done a lot,” Susic said. 

As COP16 highlights global sustainability initiatives, Soudah Development’s work underscores how luxury destinations can be developed while preserving nature and supporting local communities. 


Blinken says ‘ceasefire is holding’ in Lebanon

A damaged site in Beirut's southern suburbs where the US secretary of state said the ceasefire between Israel and Lebanon appear
A damaged site in Beirut's southern suburbs where the US secretary of state said the ceasefire between Israel and Lebanon appear
Updated 3 min 22 sec ago
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Blinken says ‘ceasefire is holding’ in Lebanon

A damaged site in Beirut's southern suburbs where the US secretary of state said the ceasefire between Israel and Lebanon appear
  • US Secretary of State Antony Blinken says all parties continue to want the cease fire
  • Both Israel and Hezbollah face accusations of having breached the truce

BRUSSELS: US Secretary of State Antony Blinken said Wednesday the ceasefire in Lebanon was “holding” despite a series of incidents between Israel and Iran-backed militants Hezbollah.
“The ceasefire is holding, and we’re using the mechanism that was established when any concerns have arisen about any alleged or purported violations,” Blinken told journalists on the sidelines of a NATO meeting in Brussels.
Both Israel and Hezbollah face accusations of having breached the truce that took effect last Wednesday to end a war that has killed thousands in Lebanon and sparked mass displacements on both sides.
“I think fundamentally, both parties, that is to say Israel and Hezbollah, through the Lebanese government, wanted and continue to want the cease fire,” said Blinken.
“But we have to make sure that it’s upheld. And we’re determined to do that,” he added.
A committee including France, UN peacekeepers, Israel, Lebanon and chaired by the United States is tasked with maintaining communication between the various parties and ensuring violations are identified and dealt with to avoid any escalation.
“The mechanism that we established with France to make sure that the ceasefire is effectively monitored and implemented is working, and we want to make sure it continues to work,” Blinken said.
“If there are concerns that one party or the other is violating the ceasefire, it comes to us, and one way or another, we engage the parties. That’s exactly what’s happened,” he added.
Israel stepped up its campaign in south Lebanon in late September after nearly a year of cross-border exchanges by Hezbollah in support of its ally Hamas, following the Palestinian group’s October 7, 2023 attack on southern Israel.


PIF-owned Soudah Development sets sustainability as core of vision for Saudi luxury destination

PIF-owned Soudah Development sets sustainability as core of vision for Saudi luxury destination
Updated 15 min 36 sec ago
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PIF-owned Soudah Development sets sustainability as core of vision for Saudi luxury destination

PIF-owned Soudah Development sets sustainability as core of vision for Saudi luxury destination

RIYADH: Soudah Development, a company backed by the Public Investment Fund, is placing sustainability at the core of its plan to transform Saudi Arabia’s southern region into a premier ultra-luxury destination.  

The company's commitment to ecological preservation and long-term climate resilience was highlighted at COP16 in Riyadh. 

Speaking to Arab News on the sidelines of COP16 in Riyadh, Srdan Susic, chief destination sustainability, highlighted the company’s approach to integrating environmental concerns with development goals. “We believe that without nature, you don’t have the people. Without people, you don’t have heritage. Without nature, without heritage, you don’t have a destination that we want to build,” he said.   

Soudah’s sustainability strategy includes proactive climate adaptation, ecosystem restoration, and rewilding. To date, the company has planted nearly 250,000 native trees, with a goal of one million by 2030. In addition, flagship species have been reintroduced into protected areas to promote natural recovery.  

“We want our ecosystems to continue providing ecosystem services for the communities who live there and for future visitors,” Susic added.  

The company is also focused on preparing for the long-term challenges of climate change. “Climate change adaptation is a process where you say there is climate change, there are going to be negative effects. Let me get as better prepared as I can for the future to mitigate these effects,” Susic explained.  

He emphasized that this approach would not only ensure sustainability but also enhance operational efficiency and financial viability. 

“Our hotel and other asset operators will be more willing to come to us because we are aware of our sustainability goals. Our insurers, the companies who will insure our assets for the next 40, 50, or 60 years of operation, will charge us less money because we know what the risks are and how to mitigate them.” 

Located at 3,015 meters above sea level, the Soudah Development project will feature 3,000 ultra-luxury hotel rooms, villas, and second homes, along with retail and infrastructure developments. 

It is expected to create jobs and provide new economic opportunities for local communities. “Soudah is very proud that we are a very important part of this vision and that we are helping to reduce the oil dependency of this country,” Susic said. 

Partnerships and future plans   

The company is finalizing several memoranda of understanding with government entities and a royal commission, aimed at supporting reforestation efforts and increasing the region’s biodiversity.  

One such agreement, with the Saudi Coffee Co., will involve planting coffee trees to boost both the local environment and the economy. “The agreements Soudah is planning to sign by the end of the year are very implementable, very efficient, and very precise,” Susic noted. 

Soudah Development’s efforts align with Saudi Arabia’s broader economic diversification goals. “We believe that Saudi Arabia is doing a big shift in its economic planning for the next generation to come,” Susic said.  

With a focus on tangible outcomes, Soudah Development aims to lead by example. “If you read our sustainability reports, you will see that we use past tense — we have done a lot,” Susic said. 

As COP16 highlights global sustainability initiatives, Soudah Development’s work underscores how luxury destinations can be developed while preserving nature and supporting local communities. 


Second Riyadh Dog Festival focuses on Arabian Saluki

Second Riyadh Dog Festival focuses on Arabian Saluki
Updated 18 min 44 sec ago
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Second Riyadh Dog Festival focuses on Arabian Saluki

Second Riyadh Dog Festival focuses on Arabian Saluki
  • Event features more than 1,000 dogs in various activities
  • Furry friends to compete in races, agility competitions and beauty contests

RIYADH: The Riyadh Dog Festival returns for its second year with a range of activities and competitions to draw an international crowd of dog lovers, with a spotlight on the Arabian Saluki breed.

The festival, part of Riyadh Season 2024, began on Dec. 2 and is scheduled to run until Dec. 7, featuring more than 1,000 dogs in various activities, according to the General Entertainment Authority.

It will host several competitions, including five main categories: Saluki races, agility dog races, working dog races, a dog beauty contest, and K9 shows.

Attendee Sara Abdulrahman brought her white miniature poodle Cloud, who struck a pose in his colorfully dyed ears and paws.

Abdulrahman told Arab News she attended the event to see what the festival had to offer.

“I want to see what they (Riyadh Season) have prepped for Saudi Arabia and who will win the competition. I also came to get a change of scenery and take a walk with Cloud.”

Wanting her pet to have a different look, Abdulrahman found a pet salon in the Kingdom that dyes animals’ coats with natural ingredients.

“I wanted a different look for my poodle. They are all usually white or brown so I wanted something new and stylish.”

Abdulrahman is one of the many visitors who attended the festival with their pets.

The event spotlights the Saluki breed with a specialized museum. The Saluki is one of the oldest purebred dogs in the world and is believed to have originated in the Middle East.

The museum includes an educational exhibit about the breed’s history and regional significance.

Other attractions at the festival include a Cat Lounge, with different breeds of cats visitors can feed and play with, and a Harley-Davidson motorcycle and classic car display featuring decked-out motorcycles and vintage vehicles.

Additional activities include dog fashion shows, grooming demonstrations, a dog park, and a sheepdog demonstration.

The event offers comprehensive facilities and services, including a dedicated dog club, diverse restaurants and cafes, retail shops, and fully equipped health clinics to ensure proper care for participating dogs.


Venture capital, banking key to driving sustainable finance

Venture capital, banking key to driving sustainable finance
Updated 24 min 57 sec ago
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Venture capital, banking key to driving sustainable finance

Venture capital, banking key to driving sustainable finance

RIYADH: Venture capital and the banking sector are key to advancing innovative solutions for environmental sustainability, according to the founder and CEO of KBW Ventures.

During a session titled “Redefining Sustainable Finance: From Competitive to Catalytic Impact,” on the second day of the fourth Saudi Green Initiative Forum in Riyadh, Prince Khaled bin Alwaleed explained the role of impact investing and how it is scalable, sustainable, and profitable.

This falls in line with the fact that sustainable finance is evolving from a competitive advantage to a catalyst for systematic change. With global environmental, social, and governance assets expected to reach $50 trillion by 2025, the focus is shifting toward driving large-scale impact.

“Venture capital is not competitive to traditional banking sector. The banking sector loves venture capital because they de-riskify concepts that haven’t been developed yet,” Prince Khaled said.

 “Really, it’s a marriage of different types of industries coming together harmoniously, and venture capital and banking complement each other really well,” he added.

The CEO went on to say: “For me personally, impact investing really plays a huge role, simply because it reflects a lot on the investor’s desire for financial return as well as being in fact positively impacting the environment, whether it’s people, whether it’s the environment, whether it’s social responsibility,” he added.

Prince Khaled also highlighted how venture capital is at the forefront of investing in ideas that haven’t yet materialized, bearing much of the risk in the process.

“Venture capital comes in and de-riskify these opportunities. And to fuel the growth and to fuel the scale, banks come in and feel that scale once the proven model is there once there’s profitability, once there’s product market fit,” he said.

The founder also shed light on how impact investing is yet to develop in the region.

“We’ve seen investing, but impact investing is starting to grow. We’ve seen that in the last three to four years, we haven’t seen much happening in that field, but it’s slowly going to happen simply because investors dictate ESG-driven models have to be implemented in certain companies or even in certain startups,” Prince Khaled said.

He also highlighted that policies don’t drive innovation; rather, innovation drives innovation.

“Blanket policies don’t necessarily translate really well internationally or worldwide. They work in a specific manner, and they have to be tailored for other areas in the world. And again, this is why I believe policy doesn’t necessarily dictate change. I think the market, I think innovation, I think private sector really dictates the way change is going to happen,” the CEO concluded.

This year’s edition of the Saudi Green Initiative Forum, held from Dec. 3-4 as part of COP16, aims to tackle pressing global environmental challenges, such as land rehabilitation, carbon reduction innovations, and sustainable financing. The gathering will also explore the role of natural solutions in helping communities adapt to climate change while emphasizing efforts to preserve the Kingdom’s rich biodiversity, according to an official statement.


Macron says Syria’s Assad cannot be an agent of Iran while acting against security of Israel and stability of Lebanon

In an exclusive interview with Annahar and Randa Takieddine (R), French President Emmanuel Macron talks about events in Syria.
In an exclusive interview with Annahar and Randa Takieddine (R), French President Emmanuel Macron talks about events in Syria.
Updated 14 min 9 sec ago
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Macron says Syria’s Assad cannot be an agent of Iran while acting against security of Israel and stability of Lebanon

In an exclusive interview with Annahar and Randa Takieddine (R), French President Emmanuel Macron talks about events in Syria.
  • “We and Saudi Arabia are convinced that a ceasefire is needed in Gaza that enables the liberation of the hostages…and protects the people of Gaza”: Macron

In an exclusive interview with Annahar and Randa Takieddine, French President Emmanuel Macron said recent events show that Syria’s future requires more than normalization with Syrian President Bashar Assad, whom he said cannot be an agent of Iran and act against the security of Israel and the stability of Lebanon.

You are making a state visit to Saudi Arabia. What are your expectations in bilateral terms, having recently received a Saudi business delegation, the minister of investment, and the director of Saudi Aramco?

This will be my third visit to Saudi Arabia. The prime minister and crown prince have also visited Paris several times, and we are in regular contact. This state visit is particularly important, however, as it will enhance our relations to a strategic partnership. It comes at a particular time in which Saudi Arabia is swiftly transforming, opening up and diversifying its economy. For France, this will be an opportunity to show our support for Saudi Vision 2030 and the international events Riyadh will be hosting.

I will also be visiting AlUla, which is the jewel of our cultural cooperation. This visit also comes at a critical time of multiple regional and international crises. It will therefore be an opportunity to take initiatives together to foster peace, security and international prosperity. Our two countries have a major role in this respect and can also strengthen ties between this part of the world and Europe, in the spirit of the ambition shown by the recent EU-Gulf Cooperation Council Summit.

Saudi Arabia has an important role in the region. What are your expectations for its involvement in Lebanon and the region? If there is a ceasefire, what role do you think you and Saudi Arabia can play in Lebanon and Gaza?

Strengthening our political dialogue is one of our goals. France and Saudi Arabia share the same commitment to regional security and stability and will work together to find lasting political solutions to crises. That will be at the heart of our discussions with the crown prince. Our efforts to achieve a de-escalation in regional conflicts are aligned, particularly in Lebanon, Gaza, Yemen and Sudan.

We and Saudi Arabia are both convinced that a ceasefire is needed in Gaza that enables the liberation of the hostages, including our two nationals, and of course protects the people of Gaza who are in an unacceptable situation of distress, while allowing humanitarian aid to be delivered. We have been calling for this ceasefire since November, and we have been waiting too long. It must come now, it must be permanent, and it must re-open the prospect of a two-state solution. I welcome the work by Saudi Arabia and its Arab partners in defining an Arab vision for peace, updating the Arab Peace Initiative of 2002 and sketching out a pathway out of the crisis. A credible framework needs to be worked on jointly to achieve a Palestinian state and guarantee Israel’s security. The UN Security Council and everyone who has a role to play must shoulder their responsibilities.

We will not stop calling for the ceasefire in Lebanon. It is essential for all parties — and this goes for both Hezbollah and Israel — to fulfill their obligations. The international community must continue its efforts to support the Lebanese Armed Forces, which are essential to this agreement and to the restoration of Lebanon’s sovereignty, in line with the conference we held in Paris on Oct. 24 this year.

Saudi Arabia contributes to Lebanon’s stability and has a role to play in bringing an end to the political crisis. At this crucial time for Lebanon’s future, it is important for us to discuss the reconstruction of the country, as well as the political prospects of the upcoming Jan. 9 session of the Lebanese Parliament with the aim of electing a president. All Lebanese actors must contribute to the solution. Hezbollah must facilitate consensus and foster Lebanese unity.

When will France recognize the Palestinian state?

It is urgent to preserve the two-state solution and the viability of a Palestinian state in the context of increased settlement-building, the measures taken against UNRWA and growing pro-annexation discourse. It is absolutely necessary to offer Palestinians real hope of a better life in an independent state and thus cut short any source of legitimacy for Hamas, which has nothing to offer but violence and destruction. The two peoples, Israelis and Palestinians, must be offered a response to their legitimate aspirations, otherwise the region cannot hope for lasting stability.

The recognition of the Palestinian state must contribute to speeding up the two-state solution, and France is ready. In that spirit, we supported Palestine’s accession to the UN as a fully-fledged member. We have voted for all UN General Assembly resolutions in this regard. For it to happen, recognition must take place in a context that enables a lasting end to the crisis. Alongside Saudi Arabia, we will co-chair a conference to give renewed political momentum to the two-state solution and will work on this in Paris.

Will resuming dialogue with Bashar Assad enable the return of Syrian refugees in Lebanon to Syria and control of the Syria-Lebanon border to prevent Iran from rearming Hezbollah?

Recent events have clearly shown that Syria’s future needs far more than normalization with Bashar Assad. The Syrian people need unity and hope. Dialogue with the regime is not an end in itself. The fighting in recent months has pushed many refugees, along with a million displaced Lebanese people, onto the roads toward Syria, but the question remains fully open. The Syrian regime must create an environment that enables the safe return of Syrians to their country. I have discussed this recently with my European and Arab counterparts. The UN High Commissioner for Refugees is talking about it with the Syrian regime, which must provide answers. Assad cannot be Iran’s agent and undermine Israel’s security and Lebanon’s stability.

What role will France play during this ceasefire? Do you think displaced persons will be able to return to the bombarded southern villages? What role can Saudi Arabia play in the implementation of this ceasefire?

France has always stood with Lebanon and the Lebanese people and does so, once again, at this critical moment. The ceasefire agreement follows months of joint diplomatic efforts with the US, and France is contributing to the monitoring mechanism. On Oct. 24, we laid the groundwork for its implementation by holding a conference that raised €1 billion ($1.05 billion) for Lebanon, including €800 million for displaced persons and €200 million for the Lebanese Armed Forces. This effort needs to continue, and France has already decided to deploy additional engineering and mine clearance assets to support the Lebanese army. I will send our army and foreign ministers to Lebanon very soon to work on all these points. Lebanon’s reconstruction will of course be another one of our priorities and will require a sustained international effort.

Will you continue talking to Israeli Prime Minister Benjamin Netanyahu despite France’s recognition of the International Criminal Court’s decisions? Could France’s independent judiciary itself execute the arrest warrant?

We have always supported international justice. France will fulfill its obligations under international law, in this case and all others. The judiciary’s decisions are totally independent.

France talks to everyone, and that is what enables it to play a role in the region. We must be clear-sighted: The region’s crises cannot be resolved without dialogue with the Israeli authorities.