The Governor of the Eastern Region, HRH Prince Saud bin Naif bin Abdulaziz, has patronised the launch of Al Khobar Downtown, a waterfront urban development scheme.

The event was attended by Deputy Governor HRH Prince Saud bin Bandar bin Abdulaziz and Saudi Downtown Chairman Eng. Ibrahim Mohammed Al-Sultan. Saudi Downtown, a Public Investment Fund (PIF) company, operates within the Urban Development & Livability ecosystem.

The project covers more than 829,000 square metres along the waterfront. Chief Executive Eng. Fahad Alhammad stated that the scheme features over 4,000 residential units and more than 500 hotel rooms. It includes over 40,000 square metres of office space, 139,000 square metres for retail, cafes and restaurants, alongside 103,000 square metres of green space and public parks.

During the ceremony, Prince Saud bin Naif affirmed that the development and investment projects taking place across the region reflect the wise leadership’s continued commitment to comprehensive development, urban development, and economic diversification. These efforts help leverage the region’s potential and advance its development journey. His Royal Highness also emphasised the importance of supporting the local economy and fostering investment opportunities in line with the aspirations of the region and its residents.

The mixed-use hub aims to create growth and partnership opportunities while generating direct and indirect jobs. It builds on PIF efforts to leverage regional strengths across the Kingdom, expanding private sector partnerships and economic appeal. Prince Saud bin Naif presented awards to supporting entities at the end of the ceremony.