Le prince héritier Mohammed bin Salman dévoile le plan directeur de Soudah Peaks

RIYAD, Arabie Saoudite, 27 sept. 2023 (GLOBE NEWSWIRE) — Son Altesse Royale, le prince hritier saoudien Mohammed ben Salmane bin Abdulaziz Al Saud, Premier ministre et prsident de Soudah Development, a dvoil le plan directeur pour dvelopper un nouveau projet dans la rgion montagneuse de Soudah et certaines parties de Rijal Almaa. Le projet Soudah Peaks prvoit la cration d'une destination de tourisme de montagne de luxe 3015 mtres d'altitude, sur le plus haut sommet d'Arabie saoudite. Situ dans un environnement naturel et culturel extraordinaire dans la rgion d'Asir, dans le sud–ouest de l'Arabie saoudite, le projet sert d'lment cl des efforts du Fonds d'investissement public (PIF) visant diversifier l'conomie en dveloppant des industries vitales telles que le tourisme, l'htellerie et les loisirs, et en soutenant la stratgie de dveloppement d'Asir.

Le prince hritier Mohammed bin Salman, prsident du conseil d'administration de Soudah Development, a dclar que Soudah Peaks reprsentait une nouvelle re du tourisme de montagne de luxe, dans la mesure o il propose une exprience de vie sans prcdent tout en prservant l'environnement naturel et la richesse culturelle et patrimoniale. Ce projet est stratgiquement conforme aux objectifs de la Vision 2030, savoir dvelopper le tourisme et les loisirs, soutenir la croissance conomique, attirer les investissements, contribuer hauteur de plus de 29 milliards de riyals saoudiens au PIB cumul du Royaume et crer des milliers de possibilits d'emploi directes et indirectes.

Et son altesse royale d'ajouter : Le plan directeur raffirme notre engagement aux efforts mondiaux visant prserver l'environnement et les ressources naturelles pour les gnrations futures contribuer la diversification des sources de revenus nationaux et la construction d'une conomie solide qui attire les investissements locaux et mondiaux .

Soudah Peaks sera une addition importante au secteur du tourisme en Arabie saoudite et placera le Royaume sur la carte du tourisme mondial, tout en clbrant la richesse de la culture et du patrimoine du pays. Les visiteurs auront l'occasion de dcouvrir la beaut de Soudah Peaks, d'explorer la richesse de sa culture et de son patrimoine, et de vivre l'exprience de l'hospitalit authentique de la communaut locale. Soudah Peaks proposera des expriences inoubliables dans un cadre verdoyant, au–dessus des nuages , a indiqu le prince hritier.

Soudah Peaks vise fournir des services d'hospitalit luxueux et haut de gamme plus de deux millions de visiteurs tout au long de l'anne d'ici 2033. Le plan directeur est conu de manire reflter les styles traditionnels et architecturaux locaux et promouvoir le patrimoine culturel et paysager de la rgion. La destination comptera six zones de dveloppement uniques : Tahlal, Sahab, Sabrah, Jareen, Rijal et Red Rock. Chacune d'entre elles disposera d'une gamme d'installations de classe mondiale, notamment des htels, des stations de montagne de luxe, des chalets rsidentiels, des villas, des manoirs haut de gamme, des attractions commerciales et de divertissement, ainsi que des attractions en plein air ddies au sport, l'aventure, au bien–tre et la culture.

Soudah Development fournira 2700 chambres d'htel, 1336 units rsidentielles et 80 000 mtres carrs d'espace commercial pour Soudah Peaks d'ici 2033. Le plan directeur sera dvelopp sur trois phases. L'achvement de la premire phase est prvu pour 2027 avec 940 chambres d'htel, 391 units rsidentielles et 32 000 mtres carrs d'espace commercial.

Soudah Peaks s'tend sur plus de 627 kilomtres carrs surplombant un paysage naturel impressionnant, avec moins de 1 % des terrains acquis des fins de construction. Il reflte en effet l'engagement de Soudah Development protger et prserver l'environnement, en adoptant les meilleures normes de dveloppement durable, et en contribuant aux efforts de l'Initiative verte saoudienne.

En tant que socit par actions ferme appartenant au PIF, Soudah Development vise dvelopper une destination touristique de montagne de luxe unique en Arabie Saoudite, tout en prservant l'environnement naturel et le patrimoine culturel de la zone du projet rpartie sur Soudah et certaines parties de Rijal Almaa.

propos de Soudah Development
Soudah Development est une socit anonyme ferme entirement dtenue par le Fonds d'investissement public (PIF) de l'Arabie saoudite. Elle a t cre pour stimuler le dveloppement d'une destination touristique de montagne de luxe, couvrant Soudah et certaines parties de Rijal Almaa, dans la rgion d'Asir, au sud–ouest de l'Arabie saoudite. Elle vise prserver le paysage naturel et respecter le riche patrimoine culturel de la rgion, en attirant 2 millions de visiteurs chaque anne d'ici 2033. Le dveloppement de Soudah a t annonc le 24 fvrier 2021 par SAR le prince hritier Mohammad bin Salman bin Abdulaziz Al Saud, Premier ministre et prsident du PIF.

Pour de plus amples informations, veuillez consulter les liens suivants :
Sites lectroniques : www.soudah.sa et www.soudahpeaks.com
Twitter, Instagram, LinkedIn et Facebook : @Soudahpeaks
Ou par email : press@soudah.sa

Le texte du communiqu issu d'une traduction ne doit d'aucune manire tre considr comme officiel. La seule version du communiqu qui fasse foi est celle du communiqu dans sa langue d'origine. La traduction devra toujours tre confronte au texte source, qui fera jurisprudence.

Contacts:
Mohammed A. Alshehri
Press@soudah.sa


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شركة Blacklane تدخل في شراكة مع SIXT وتستكمل جولة السلسلة (و)

 تستثمر شركة SIXT مبلغًا كبيرًا قدره مليون يورو في شركة Blacklane، مما يجعل الشركة من كبار المساهمين فيها


 ستعمل كل من SIXT وBlacklane معًا على دفع النمو الدولي من خلال التركيز في البداية على أمريكا الشمالية


 تتضمن الشراكة دمج خدمات Blacklane في تطبيق SIXT وتمنح شركاء Blacklane من السائقين إمكانية الوصول إلى مركبات SIXT والخدمات ذات الصلة


 يمثل استثمار SIXT الإتمام الثاني لجولة السلسلة (و) بعد الاستثمارات السابقة التي قامت بها شركة Mercedes–Benz Mobility وGargash Enterprises


برلين، 27 سبتمبر 2023 (GLOBE NEWSWIRE) – أعلنت اليوم خدمة السائقين العالمية
Blacklane عن شراكة ستصبح بموجبها المزود الدولي الرائد لخدمات التنقل عالية الجودة SIXT أحد كبار المساهمين في شركة Blacklane. في المستقبل، ستعمل Blacklane وSIXT معًا على توسيع نطاق تواجدهما في الأسواق الدولية، مع التركيز في البداية بشكل خاص على أمريكا الشمالية، التي تُعد سوق النمو الأكثر أهمية لكلا الشركتين.

ستتوفر خدمات السائقين الخاصة بشركة Blacklane عبر تطبيق SIXT في الولايات المتحدة والأسواق الدولية الأخرى في عام 2024، مما يتيح خدمات شركة Blacklane كخيار إضافي ممتاز للتنقل على المنصة. وستعود هذه الشراكة أيضًا بالفائدة على كلا الشركتين من خلال الاستفادة على سبيل المثال من قدرات أسطول SIXT والخدمات ذات الصلة، حيث ستوفر للعملاء والشركاء من السائقين خيارًا أوسع من المركبات والخدمات.

قال Nico Gabriel، الرئيس التنفيذي للعمليات في SIXT: "نحن في شركة SIXT ملتزمون بتوفير حلول تنقل متميزة في مجال تأجير السيارات ومشاركة السيارات والاشتراك وخدمات حجز السيارات. ونرحب بانضمام شركة Blacklane كشريك إضافي متميز في نظام التنقل لدينا ونتطلع إلى خلق أوجه تآزر مشتركة لأعمالنا من خلال هذه الشراكة".

قال الدكتور Jens Wohltorf، الرئيس التنفيذي والمؤسس المشارك لشركة Blacklane: "يسعدنا التعاون مع شركة SIXT كشريك ومستثمر لدينا في جولة التمويل هذه". "بالجمع بين خبرتهم الواسعة في مجال النقل البري وقطاع السفر وخبرتنا في خدمات السائقين المتميزة، تنشأ علاقة قوية من شأنها دفع النمو العالمي والابتكار لكلا الشركتين وترسيخ مكانة Blacklane كشركة رائدة في القطاع."

ويمثل هذا الاستثمار الإتمام الثاني لتمويل السلسلة (و) لدى شركة Blacklane، مما يوفر لها استثمارًا كبيرًا بقيمة مليون يورو بتقييم يفوق التقييم السابق في عام 2020 بنسبة 50% تقريبًا. وقد حظيت الجولة الأولى من السلسلة (و) بدعم من مستثمرين بارزين مثل Mercedes–Benz Mobility وGargash Enterprises، مما يمثل دافعًا لنمو Blacklane في الشرق الأوسط.

مع الانتهاء من جولة السلسلة (و)، تستعد شركة Blacklane لتعزيز مكانتها كشركة رائدة عالميًا في مجال النقل البري المتميز. تخطط الشركة، بعد أن شهدت فترة من النجاحات حيث تضاعفت إيرادات Blacklane أربع مرات في عام 2022 على أساس سنوي، حاليًا لتسريع نموها من خلال الاستثمار في خدمات جديدة مثل برنامج City to City، الذي يربط المناطق الحضرية عبر 127 طريقًا في 11 دولة. وستساهم مرحلة التمويل أيضًا في توسيع قاعدة الموظفين الألمانيين والعالميين لدى Blacklane التي تضم 300 موظف، مما يعزز نمو الشركة ويوسع انتشارها في السوق المحلية وفي الخارج.

بالإضافة إلى ذلك، سيدعم التمويل جهود الاستدامة التي تبذلها شركة Blacklane من خلال تنفيذ حلول التنقل المبتكرة. وتلتزم الشركة بتنفيذ ما نسبته 15% من رحلاتها بالسيارات الكهربائية بحلول نهاية عام 2023، وبنسبة 50% بحلول عام 2025. وتقوم شركة Blacklane أيضًا بالتعويض عن جميع الرحلات التي قامت بها منذ تأسيسها في عام 2011.

وتنضم شركة SIXT إلى مستثمرين بارزين مثل Mercedes Benz Mobility، وAl Fahim Group، وGargash Enterprises، وb2venture، وAlstin Capital، والتي تُظهر جميعها الثقة في نموذج أعمال Blacklane وتوقعات النمو.

انقر هنا (https://www.blacklane.com/en/press/presskit/) لتنزيل مجموعة المواد الصحفية.

نبذة عن BLACKLANE
نقدم نحن شركة Blacklane خدمات سائقين عالمية متميزة. تتمثل رسالتنا في توفير وسائل الراحة والسعي لبناء مستقبل أفضل من خلال خلق تجارب لا تُنسى لضيوفنا المميزين في كل أنحاء العالم. تقدم Blacklane خدمات النقل في المطارات، والتنقلات من مدينة إلى أخرى، وخيارات التنقل داخل المدن وخدمات السائقين بالساعة في أكثر من 50 دولة حول العالم، بنظام الحجز المسبق أو عند الطلب. سواء كان السفر بغرض العمل أو الترفيه، توفر شركة Blacklane وموظفوها البالغ عددهم 300 موظف وآلاف الشركاء من السائقين خدمة النقل الفاخرة المناسبة لك. فقد وفرنا، من خلال ابتكار مفاهيم جديدة للنقل، فرصًا جديدة لمقدمي خدمات السائقين لدينا وساهمنا في وضع معايير القطاع لحماية المناخ في قطاع السفر. يمكنك الحجز عبر www.blacklane.com أو تنزيل التطبيق الخاص بنا.

للاستفسارات الإعلامية العالمية لشركة Blacklane، يرجى الاتصال بـ:

Blacklane GmbH
Radmila Palová
press@blacklane.com

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Zimbabwe’s Food Security Ambitions in El Niño’s Crosshairs

Wildfires under dry conditions have been cited as contributing to the El Nino phenomenon. Credit: Ignatius Banda/IPS

Wildfires under dry conditions have been cited as contributing to the El Nino phenomenon. Credit: Ignatius Banda/IPS

By Ignatius Banda
BULAWAYO, ZIMBABWE, Sep 27 2023 – Zimbabwe is riding a wave of food security assurances after what officials said was last year’s bumper grain harvest, but recent El Niño forecasts could test the country’s agriculture production ambitions.

The devastating phenomenon could further bring the spotlight on Zimbabwe’s disaster preparedness as the country has, over the years, received early warnings of impending climate-induced humanitarian crises but found wanting.

While the landlocked southern African country has invested heavily in farm mechanisation and irrigation, there are concerns that the looming El Niño could test if these interventions will help sustain food production at a time when aid agencies say more people will require assistance into the coming year.

During the 2022/23 season, Zimbabwe recorded its highest grain harvest in years, with the agriculture ministry declaring that the country will not be importing any food in the short term.

However, fresh climate uncertainty concerns have brought back worries about the country’s ability to feed itself, where thousands of smallholder farmers – the primary growers of the staple maize – rely on rain for their agriculture activities.

According to the Food and Agriculture Organisation (FAO), up to 70 percent of Zimbabwe’s population subsists on rainfed agriculture, effectively exposing the vulnerability of food security as El Niño looms.

In a July update, FAO’s Global Information and Early Warning Systems listed Zimbabwe as one of the southern African countries where the UN agency had prepared what it called “anticipatory protocols for drought” ahead of El Niño.

“El Niño is likely to result in a mixed start to the 2023/24 rainy season in Zimbabwe. Precipitation from December to March, during the height of the rainy season, is likely to be below average, negatively impacting the 2023/24 agricultural season,” the Famine Early Warning Systems Network (FEWS-NET) said in a June update.

Climate ministry officials say El Niño has previously affected agricultural production, noting that more remains to be done to counter its devastating effects.

“The combination of drought and water scarcity results in decreased agricultural productivity, leading to reduced food production, and this subsequently impacts food security and increases food prices,” said Washington Zhakata, a director of the Environment Ministry’s Climate Change Management Department.

He noted that the country could still have more to worry about in the aftermath of El Niño.

“El Niño conditions create conducive conditions for the outbreak of crop diseases and pests. When the crops are weakened, they become more susceptible to infestations and diseases, further affecting agricultural yields,” Zhakata told IPS.

While Zimbabwe has committed to building a multi-billion-dollar agriculture sector, climate uncertainty could derail those plans as the country has been slow in setting up infrastructure such as irrigation and new dams.

According to Zhakata, countermeasures such as escalated investment in the sector could cushion the country against future climate shocks.

“Investment in irrigation infrastructure, such as dams, weirs, boreholes and water conveyancing systems to where the water will be required, to provide alternative water sources during drought periods, enhance farmers’ access to irrigation systems, and promote efficient water management practices,” Zhakata said.

This comes as the World Food Programme (WFP) says more people will require food assistance during the traditional lean season early next year, already worsened by El Niño.

“Nutritional vulnerability is highest at the peak of the lean season (January – March) when food stocks from the previous growing season run low and prices in the market increase,” said Mary Gallar, WFP-Zimbabwe spokesperson.

“Recognising the challenges experienced by communities in some poor performing areas, it is expected that a large number of people will rely on food assistance at the beginning of next year,” Gallar said.

According to FAO, El Niño last hit Zimbabwe in 2016 and left 40 million people in southern Africa needing food assistance.

It is yet to be seen what preparations the country’s grain reserves will be enough in the event of another El Niño-induced drought.

According to agencies, the 2016 El Niño “severely reduced seasonal rains and higher-than-normal temperatures linked to El Niño caused an anticipated 12 percent drop in aggregate cereal production.”

Amid such anticipated reduced food production, Zimbabwe’s 2023 bumper grain harvest will provide a litmus test of the country’s grain statistics, which some analysts have questioned.

According to climate ministry officials, Zimbabwe is one of many countries bearing the brunt of climate uncertainty yet to benefit from loss and damage pledges by rich nations, further compounding efforts to address climate-related emergencies adequately.

“The 27th Conference of Parties to the United Nations Framework Convention on Climate Change (COP27) acknowledged that existing funding arrangements fall short of responding to current and future impacts of climate change and are not sufficient to addressing loss and damage associated with the adverse impacts of climate change,” Zhakata said.

“So far, no Parties have benefitted from this facility; it is a prerequisite to have clearly defined operational modalities and initial resources being deposited into the fund before it can be accessed. It is expected that the modalities will be agreed in December to pave the way for the operationalisation of the Fund,” he added.

For now, as potentially devastating El Niño drought approaches, smallholders could find themselves none the wiser as they count their losses in the absence of measures to mitigate the impact of climate change.

IPS UN Bureau Report

 


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Navigating Challenges of New City Development for Nusantara, Indonesia’s Future Capital

Credit: Ministry of Public Works and Public Housing, Republic of Indonesia

By Omar Sidique, Diani Sadiawati and Diandra Pratami
BANGKOK, Thailand, Sep 27 2023 – Many nations are engaged in ambitious urban planning endeavors and the creation of new capital cities. Nusantara, Indonesia, is the latest in a series of modern cities that have sprung up across Asia.

The government aims to create a model capital city based on the principles of liveability and green urban development on the island of Borneo.

Indonesia seeks to relocate its capital due to flooding, land subsidence, overpopulation and congestion in Jakarta, located on the island of Java, where 60 per cent of the country’s population of close to 280 million lives.

Nusantara will also play a role in rebalancing the country’s economy, and redistributing economic growth outside Java. But how can the government get such a complex endeavor right?

In this article, we explore how planners of Nusantara are leveraging a UN-supported mechanism, called the Voluntary Local Review (VLR), to promote sustainability and uphold human rights. VLRs are typically performed by authorities of existing subnational administrative areas such as provinces and cities.

Nusantara will be the first VLR for a new city ever undertaken – in order for authorities to integrate sustainability actions and key principles such as leaving no one behind already during the development stage.

Valuable lessons from other new Asian cities

    • Malaysia’s sustainable approach: Putrajaya, just south of Kuala Lumpur, was designed as an intelligent garden city. Its planning emphasizes green and sustainable development. Rather than separating indigenous residents from their traditional land, it incorporated existing Malay villages into the plan. The lesson here is that new capital cities should prioritize local land rights and sustainability through green infrastructure. Such initiatives contribute to a better quality of life and environmental preservation.
    • Republic of Korea’s phased development: Sejong City’s incremental approach to its development as an administrative capital is a testament to the advantages of not rushing construction and drawing from lessons learned throughout the process. It was created to decentralize economic and political power away from Seoul. It also showcases the importance of designing new capital cities with resilience to climate change in mind, given the increasing threats of extreme weather events.
    • Kazakhstan’s sustained investments: Astana’s development and transformation as a capital city involved substantial investment in infrastructure, including the futuristic Norman Foster-designed Khan Shatyr Entertainment Center and the Bayterek Tower. One key lesson is that comprehensive urban planning, including spatial integration of transportation, housing, green spaces and public services, are crucial. Astana’s transformation into a thriving city of 1.3 million demonstrates the importance of having a clear, long-term vision.

Credit: Asian Development Bank

Seven key takeaways for Nusantara’s way forward

Nusantara is learning from these examples by leveraging sustainability in its master planning and closely working with ESCAP, the UN Country Team in Indonesia and the Asian Development Bank to prepare a baseline VLR report as a tool for fostering inclusive, sustainable and rights-based development.

    1. Transparency and accountability: The VLR promotes transparency by providing detailed information about the progress and challenges faced in implementing the new capital. This transparency can help build trust among stakeholders, including the public, investors and government agencies. The VLR can demonstrate how the new capital’s development aligns with global goals.
    2. Assessment of progress: The VLR can evaluate the sustainability of the new capital, including its expected environmental impact and efforts to promote sustainable practices. Nusantara aims to be a “sustainable forest city” with 25 per cent built up urban area, 65 per cent tropical forest through reforestation and 10 per cent parks and food production areas. The plan aims to conserve much of Nusantara’s tropical forest, allowing the city to be a net carbon sequestration sink before 2030 along with the goal to be a carbon neutral city by 2045.
    3. Data-driven decision making: By collecting and presenting data on the new capital’s development in one place, the VLR can facilitate integrated data-driven decision-making. It can help policymakers identify trends and make informed choices regarding resource allocation and policy adjustments. In this process, the VLR requires municipal government departments to effectively work together and break down silos.
    4. Stakeholder engagement: Indigenous communities live on the site, including approximately 800 families of the Balik people. The VLR can highlight the importance of involving local communities in the planning and implementation process. It can document community feedback and demonstrate how their input has been considered and make recommendations for institutionalizing stakeholder engagement processes.
    5. Attracting investment: The cost estimate for Nusantara is $33 billion (Rp466 trillion), with the state budget only able to cover up to 19 per cent of the cost. Investors often look for transparent and well-documented information when considering investments. A VLR can serve as a tool to attract both domestic and international investors by showcasing the potential and progress of the new capital.
    6. International collaboration: Sharing a VLR report with international organizations and other countries can open avenues for benchmarking, collaboration and support. This can include financial aid, technical assistance, and knowledge exchange.
    7. Risk mitigation: Identifying risks and challenges in the VLR allows for proactive mitigation strategies. This can help prevent delays and cost overruns in the development process.

While significant attention is focused on Nusantara, it’s clear that relocating administrative functions may not address all social and environmental problems in Jakarta, especially for those most vulnerable.

The development of Nusantara has the potential to help Jakarta address its longstanding problems by relieving population pressure, improving infrastructure and setting an example for sustainable urban development. However, the success of this endeavor will depend on careful planning, infrastructure investment, and effective governance.

Omar Sidique is Economic Affairs Officer, UN Economic and Social Commissions for Asia and the Pacific; Diani Sadiawati is Special Staff to the Head, Nusantara Capital City Authority, Government of Indonesia; and Diandra Pratami is Development Coordination Officer, UN Resident Coordinator’s Office, Indonesia

IPS UN Bureau

 


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Don’t Count on PPP Solutions

By Jomo Kwame Sundaram
KUALA LUMPUR, Malaysia, Sep 27 2023 – In recent years, public-private partnerships (PPPs) have spread rapidly. While usually profitable for the private partners, PPPs have generally not served the longer-term public interest.

PPPs as miracle all-purpose solution
As Eurodad has shown, PPP financing has grown in recent years, particularly in the Sustainable Development Goals (SDGs) funding discourses. Adopted by the UN in September 2015, the SDGs endorsed PPP financing.

Jomo Kwame Sundaram

Earlier, the mid-2015 Third UN Conference on Financing for Development in Addis Ababa had failed to ensure adequate financing. This was mainly due to rich nations opposing a UN-led international tax cooperation initiative.

Instead, PPPs were strongly endorsed in the 2015 Addis Ababa Action Agenda. Weeks later, SDG17 referred to PPPs as ‘means of implementation’. This all sought to “encourage and promote effective public, public-private and civil society partnerships”.

PPPs have been promoted as a means to finance and deliver infrastructure, social services and, increasingly, climate-related projects. Advocates claimed PPPs would also help overcome other problems besides funding. PPPs, they claimed, would help improve project selection, planning, implementation and maintenance.

PPP promotion
Some advocates even claim only the private sector can deliver high-quality investment and efficiency in infrastructure and social service delivery. Private financing reduces budget-constrained governments’ need to raise funds upfront to finance, develop and manage projects.

Increased private financing supposedly also overcomes public sector incapacity to deliver high-quality infrastructure and public services. Undoubtedly, many government capacities have been diminished by decades of structural adjustment, austerity and less public finance.

This has been worsened by rich countries’ unmet commitments to contribute 0.7% of national income as official development assistance (ODA) on concessional terms. The global North has also been unwilling to effectively stem illicit financial outflows, e.g., due to tax dodging.

PPP promotion has involved many means, media and institutions, including ‘donor’ agencies, multilateral development banks (MDBs), UN agencies, international consultants, transnational accounting firms, and the World Economic Forum (WEF).

The World Bank has long promoted private financial investments in development, as well as ‘blended finance’ and PPPs more recently. In 2022, the influential WEF even proclaimed PPPs as essential for pandemic recovery.

Promoting private finance
Such promotion of private finance has implications far beyond the actually modest amount of funds raised through ‘blended finance’ and PPPs. Almost every project so funded is touted as proof that private finance should be privileged, including by guaranteeing returns using public finance.

The World Bank and other MDBs are devoting considerable effort to advise governments on the use of PPPs. By contrast, they have not put comparable efforts into improving the quality and effectiveness of publicly financed infrastructure and social services.

Over the years, the World Bank Group has produced different tools – including model language for PPP contracts, which favour private sector interests – often to the detriment of the public partner, ultimately governments in need of financing.

Regional development banks – such as the Asian Development Bank, the African Development Bank and the Inter-American Development Bank – have strategic frameworks, networks and dedicated offices to support countries implementing PPPs.

National PPP promotion
PPP advocacy has led to changes in laws, regulatory frameworks and policy environments at international, national and local levels. Developing countries have also started including PPPs – to scale up infrastructure and public service provision – in national development plans.

Many developing countries have enacted laws enabling PPPs and set up ‘PPP Units’ to implement PPP projects. The World Bank, International Monetary Fund (IMF) and regional development banks work closely with private partners to provide policy guidance advising governments on how to best enable PPPs.

All this has transformed policy formulation for public service provision to attract private investors – an agenda Daniela Gabor dubs the ‘Wall Street Consensus’. This implies “an elaborate effort to reorganize development interventions around partnerships with global finance”.

PPPs have not delivered
But actual experiences have not confirmed this favourable impression promoted by PPP advocates. Instead, PPPs have become a major cause for concern. Reliable data on international PPP trends are hard to find. Also, different PPP definitions and terminology have confused reporting.

The World Bank’s Private Participation in Infrastructure Projects Database reports on economic infrastructure – such as for energy, transport, water and sewerage – in 137 low- and middle-income countries.

The Covid-19 pandemic undoubtedly disrupted PPP planning, preparation and procurement. But even the World Bank admits that delays and cancellations were not only due to Covid-19 as the pandemic exposed projects already in trouble for other reasons.

Nonetheless, PPPs’ financial impacts to date have been small, as the public sector continues to dominate. But little private investment – including PPPs – goes to low-income countries. Most such projects are concentrated in a few countries.

PPPs tend to be found in countries with large and developed markets allowing faster cost recovery and more secure revenues. This implies market ‘cherry-picking’ – a selection bias – with private investments going to more affluent urban areas rather than to the needy.

The major setbacks to both the SDGs and climate progress in the last decade are not only due to financing. But they are more than enough to underscore that recent reliance on blended finance and PPPs has worsened, rather than helped the situation. The empire of private finance has no clothes!

IPS UN Bureau

 


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Blacklane Enters Partnership With SIXT and Closes Series F Round

  • SIXT invests significant million euro sum in Blacklane, turning the company into one of its important shareholders
  • SIXT and Blacklane will jointly drive international growth by initially focusing on North America
  • Partnership includes integration of Blacklane services into SIXT app and gives Blacklane's chauffeurs partners access to SIXT's vehicles and connected services
  • SIXT investment marks second closing of series F round after previous investments by Mercedes–Benz Mobility and Gargash Enterprises

BERLIN , Sept. 27, 2023 (GLOBE NEWSWIRE) — Today, global chauffeur service Blacklane announced a partnership under which leading international provider of high–quality mobility services SIXT will become one of Blacklane's important shareholders. In future, Blacklane and SIXT will jointly work on expanding their footprint in international markets, initially with a special focus on North America, for both companies the most important growth market.

Blacklane's chauffeur services will be available via the SIXT app in the US and other international markets in 2024, offering Blacklane as additional premium mobility option on the platform. The partnership will also benefit both companies through for example leveraging SIXT's fleet capabilities and connected services. This will offer guests and chauffeur partners an even broader choice of vehicles and services.

"We at SIXT are committed to providing premium mobility solutions in car rental, carsharing, subscription, and ride–hailing services. We welcome Blacklane on board as an additional valued partner in our mobility ecosystem and are looking forward to jointly create synergies for our business with this partnership", said Nico Gabriel, Chief Operating Officer (COO) at SIXT.

"We are thrilled to win SIXT as our partner and investor in this funding round", said Dr. Jens Wohltorf, CEO and Co–Founder of Blacklane. "Their extensive experience in the ground transportation and travel industry, combined with our expertise in premium chauffeur services, create a powerful bond that will drive both company's global growth and innovation and solidify Blacklane's position as industry leader."

The investment marks the second closing of Blacklane's series F funding, providing Blacklane with a significant million euro investment at a valuation roughly 50% higher than the previous one from 2020. The first round of this F series was backed by prominent investors Mercedes–Benz Mobility and Gargash Enterprises, driving Blacklane's growth in the Middle East.

With the completion of this Series F round, Blacklane is poised to strengthen its position as global leader in premium ground transportation. Coming out of a highly successful period where Blacklane quadrupled revenues in 2022 year–over–year, the company now plans to accelerate its growth by investing in new services such as its City to City–program, connecting metropolitan areas via 127 routes in 11 countries. The funding round will also contribute to the expansion of Blacklane's German and global employee base of 300, driving the company's growth and further strengthening its presence in its domestic market as well as abroad.

Additionally, the funding will support Blacklane's sustainability efforts by implementing innovative mobility solutions. The company is committed to deliver 15% of its rides with electric vehicles by year–end 2023, and 50% by 2025. Blacklane is also offsetting all rides back to its founding in 2011.

SIXT joins notable investors such as Mercedes Benz Mobility, Al Fahim Group, Gargash Enterprises, b2venture and Alstin Capital, all of which demonstrate confidence in Blacklane's business model and growth expectations.

Click here (https://www.blacklane.com/en/press/presskit/) to download the press kit.

ABOUT BLACKLANE
We are Blacklane, providers of premium global chauffeur services. Our mission is to create true peace of mind for discerning guests by delivering perfect experiences around the world to inspire for a better future. Blacklane offers airport transfers, City to City commutes, In City mobility options and chauffeur services by the hour in over 50 countries globally, either pre–booked or On Demand. Whether it's for business or pleasure, Blacklane and its 300 employees and thousands of chauffeur partners have the right premium transportation service for you. By changing how people move, we opened up new opportunities for our chauffeur providers and set industry standards for climate protection in the travel industry. Book on www.blacklane.com or download our app.

For Blacklane global media inquiries, please contact:

Blacklane GmbH
Radmila Palov
press@blacklane.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1b6b304c–915d–4057–897f–f6ed288fd8ba


GLOBENEWSWIRE (Distribution ID 8928938)

‘Microvolts Recharged’ to launch new costume on September 26!

BUSAN, South Korea, Sept. 27, 2023 (GLOBE NEWSWIRE) — Services of "MICROVOLTS: Recharged' launched globally on September 9 are currently operating smoothly, and the game was listed in the new Steam popular products within a day of its launch. The company announced continuous improvement based on collecting feedback from users even after its launch, thereby generating a lot of excited responses.

This update of "MICROVOLTS: Recharged' includes new costumes that users have been waiting for will be launched in about a month, which is expected to substantially enhance the individualities of the players.

Furthermore, "MICROVOLTS: Recharged' is continuing with multi–lingual localization for global fans. Voice audio in Japanese has already been included, and game subtitle and data localization work (Japanese and Thai) will be added through this update. In addition, as localization work for numerous other languages including Spanish and Portuguese is scheduled for the near future, it is anticipated that a greater number of global fans will be able to enjoy the game more conveniently.

"MICROVOLTS: Recharged' will continuously add new modes and hold large–scale events such as seasonal league tournaments and guild tournaments in the future.

[Introduction to "MICROVOLTS: Recharged']

"MICROVOLTS: Recharged' is a free PC online shooting game that can be accessed in Steam. It features exciting and fast–paced combats in a highly fascinating micro world. Users can participate in exciting battles through a wide range of themed maps and numerous modes.

With a wide view of the battlefield, which is a characteristic of the third–person perspective, it is easier to discern the combat situation in real time and players can create their own strategies for victory through the utilization of seven types of unique weapons. Moreover, players can also choose their own avatar from among the nine characteristic action figures offered and decorate it with a variety of the costumes available. The easy–to–use controls and characteristic casual nature of the game in consideration of the players help with relieve daily life stresses.

More information is available here:

Website: https://mv.masanggames.com/

Forum: https://mv–forum.masanggames.com/

Steam: https://store.steampowered.com/app/1426440/MICROVOLTS_Recharged/

Discord: https://discord.gg/tKdzjmUYfj

Facebook: https://www.facebook.com/MicrovoltsRecharged

Photo: https://www.globenewswire.com/NewsRoom/AttachmentNg/de6a66a5–68b2–40de–996e–4ed112812a83

Masangsoft is the developer of Microvolts Recharged.


GLOBENEWSWIRE (Distribution ID 8929295)

Nature Doesn’t Know Borders: Collaboration for Conservation in Cyprus

During UN-organized beach and buffer zone clean-ups, though, youth from both the north and south of Cyprus work side-by-side with peacekeepers. Credit: UNFICYP

During UN-organized beach and buffer zone clean-ups, though, youth from both the north and south of Cyprus work side-by-side with peacekeepers. Credit: UNFICYP

By Abigail Van Neely
UNITED NATIONS, Sep 27 2023 – Along the 180-kilometer-long buffer zone separating the north and south of Cyprus, there is a surprising sign of unity: recycled ammunition boxes no longer hold bullets. They are home to baby birds.

Over the past five years, United Nations police have collaborated with local authorities to place 100 boxes throughout the uninhabited border area. An alternative to harmful pesticides, the man-made nests attract barn owls who prey on rodents. By supporting these kinds of projects, United Nations peacekeepers in Cyprus are helping to facilitate conservation efforts that impact communities on both sides of the island’s divide.

The UN peacekeeping mission in Cyprus (UNFICYP) is one of the world’s oldest active missions. Following violence between Greek and Turkish Cypriots in the 1960s, Cyprus was split in 1974 into a northern third run by a Turkish Cypriot government and a southern two-thirds run by an internationally recognized Greek Cypriot government. UN forces monitor the dividing militarized buffer zone.

UNFICYP peacekeepers have a double mission, environmental conservation and ensuring peace between north and south Cyprus. Credit: UNFICYP

UNFICYP peacekeepers have a double mission, environmental conservation, and ensuring peace between north and south Cyprus. Credit: UNFICYP

Fresh Tensions Persist

In August, UN peacekeepers were seriously injured by Turkish Cypriot security forces during a controversy over unauthorized construction work in an UN-controlled area, Reuters reports. According to the BBC, reunification talks remain slow.

Still, peacekeepers are trying to bring the two communities together through a shared interest in protecting the environment.

A small Mediterranean island, Cyprus is an important breeding, nesting, and foraging area for many animals. While activists say sensitivity to the importance of sustainability has increased, climate change is a greater threat than ever throughout Cyprus. Development from wealthy investors has fragmented habitats and led to the loss of natural areas.

Tourism has exacerbated water scarcity. Record high temperatures have aggravated social inequities for people who cannot afford air conditioning. Wildfires across the island have threatened to trigger minefields in the buffer zone. When everyone breathes the same air, air pollution is everyone’s problem.

“Environment doesn’t really know boundaries or borders and different nationalities,” Cyprus advocate Meryem Ozkan says. “But how we are acting, protecting, and preserving everywhere all around the island is affecting us all living on it.” 

UNFICYP Senior Police Advisor Satu Koivu strives to practice environmentally responsive policing in line with UN environmental management mandates. Patrols of the buffer zone have reduced illegal waste dumping and helped curb the long tradition of bird poaching along the island’s famous bird migration routes.

Meanwhile, mission-level initiatives include installing solar panels, driving hybrid vehicles, and using reusable water bottles.

Ultimately, Koivu says supporting local people is her priority. Partnerships with local authorities, civil society organizations, and community members are essential. Communication and outreach are critical tools, especially for bringing people together.

Many kids would cringe at the thought of enduring an hour-long bus ride on a hot summer day just to spend hours collecting trash. During UN-organized beach and buffer zone clean-ups, though, youth from both the North and South of Cyprus learn to appreciate the importance of their conservation efforts while working side by side with uniformed peacekeepers. The explicit goal is to discuss environmental solutions. Peacebuilding is a happy bonus.

Ozkan, the current operations manager for the North Cyprus Society for the Protection of Turtles (SPOT), collaborated with the UN on a couple of beach clean-ups. SPOT’s sea turtle conservation project centers aim to raise awareness through firsthand experiences. “If people don’t love what you love and feel the need to protect, they will not want to put the effort in,” Ozkan said.

Ozkan sees the UN’s open community events as important platforms for NGOs from both sides to communicate on equal footing without misunderstanding. Ozkan says engagement between organizations in the north and south has become more common in the last decade. Recently, SPOT partnered with NGOs around Cyprus to collect data about when sea turtles are trapped in fishing nets and engage fishermen through outreach activities.

UNFICYP Senior Police Advisor Satu Koivu strives to practice environmentally responsive policing in line with UN environmental management mandates. Here is admires a young barn owl; the population has been introduced into the buffer zone between north and south Cyprus. Credit: UNFICYP

UNFICYP Senior Police Advisor Satu Koivu strives to practice environmentally responsive policing in line with UN environmental management mandates. Here is admires a young barn owl; the population has been introduced into the buffer zone between north and south Cyprus. Credit: UNFICYP

Youth Activists for Climate Change

Youth activists who helped coordinate Cyprus’ second Local Youth Conference on Climate Change say the UN has helped them connect with each other and a wider audience. At one UN event, their team presented a draft policy proposal to install solar panels in the buffer zone to Cyprus government officials. They welcome not only the voices of both Greek and Turkish Cypriots but the perspectives of other minority and migrant communities as well.

“There is a huge need for environmental action across the aisle at the moment,” Victoras Pallikaras, a former UNFICYP Champion for Environmental Peace, stressed. Different governmental regulations on either side of the island can make coordination and compliance a challenge. While the south follows and receives support from the European Union’s environmental directives, Pallikaras notes, the north has different policies.

“The UN is kind of a pressure for both communities to bring them back together,” Pallikaras said. Even if it’s imperfect, “the most important thing is that the UN is making a huge effort.”

At first, Nicolaos “Nikos” Kassinis, one of the Cyprus Game and Fauna Service staff responsible for coordinating the barn owl nesting project, found it strange to be escorted by foreign UN officers in his own country. Over the past years, they’ve developed a “great trust.”

“Without these people, it will be impossible to do work in the buffer zone,” he now says.

“Wildlife doesn’t recognize fences and divides that are on the map,” the conservationist emphasizes. In the future, he would like to see the barn owl project expand to include the Turkish Cypriot side of the island — pesticide residue has been found in birds of prey that travel across Cyprus.

Koivu hopes that her environmental work will help the public also associate police with positive initiatives.

“As an individual, I cannot change the world. But I can start the ball rolling, and then together, we can make this difference and impact. So, I try to be positive,” she says. Less serious, her crisp blue uniform crinkles with her grin when she emphatically talks about the magic of seeing a new owlet.

“They are so cute, these babies!”

IPS UN Bureau Report

 


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10 areas of the aerospace industry to be disrupted by AI tools

DUBLIN, Ireland, Sept. 27, 2023 (GLOBE NEWSWIRE) — The use of AI in aviation goes beyond customer support chatbots and price comparison tools for travelers. While these applications will definitely stay and become ubiquitous, the real disruption will come from optimizing the "hard" areas of aviation "" from revenue management to evaluating the likelihood of a strike. Chairman of Avia Solutions Group Gediminas Ziemelis shares his predictions regarding the areas where AI in aviation will make a massive difference.

  1. Unlocking true dynamic pricing. In the airline business, revenue management has never been an easy game, but the stakes are even higher in the post–COVID world. According to IATA, the average profit margin per passenger today is truly razor–thin "" just $2.25, compared to double–digit numbers in 2019. AI can help improve the tough task of analyzing historical data and calculating the right price, taking into account the client's location and a myriad of other factors. While larger airlines will probably opt for building their own solutions in–house, there's already a growing number of carriers partnering with the likes of AirGain "" an AI–driven predictive solution with a data lake covering 6 billion price points.
  2. Maintaining engine health. Predictive maintenance has been an integral part of MRO for quite some time now, with sensors helping airlines determine when and what needs to be fixed or replaced. Artificial Intelligence can use both real–time sensor data and predictive historical fault patterns to reduce downtime and overall costs of maintenance. A recent study conducted by the University of Maryland's Center for Advanced Aviation System Development (CAASD) found that predictive maintenance can reduce aircraft operational costs by up to 20%. AI is already disrupting this field. For instance, Lufthansa Technik has leveled up aircraft upkeep with its AI–driven predictive maintenance systems. Their Condition Analytics solution employs machine learning algorithms to analyze sensor data from various aircraft components, predicting maintenance needs with remarkable precision. The creation of so–called "digital twins" "" perfect virtual replicas that change their parameters according to the physical component's wear "" MRO technicians use digital twins for predictive maintenance and to detect anomalies by comparing real–world sensor data to the data generated by digital twins.
  3. Planning the most efficient route. According to IATA, airlines will spend $215 billion this year, accounting for around 28% of operating expenses, which can be reduced with more efficient route planning. Numerous variables (including air traffic congestion, quickly changing weather patterns, and fluctuating fuel costs) make route planning a complex and demanding task, which can either improve or damage a carrier's bottom line, depending on how efficiently it is performed. AI–enabled platforms can accelerate decision–making for operators, helping them harness not just the power of historical data but also of predictive mechanisms that, together, generate an actionable and clear picture. One example of such a platform is Flyways, which uses scheduled and active flight data to map out flight routes that go through less–congested areas and bypass areas with adverse weather conditions. The solution has already been tested out by Alaska Airlines, saving the company 480,000 gallons of fuel and resulting in 4,600 fewer tons in carbon emissions over a six–month period. The results of such AI–operator collaboration are reflected not only in cost savings but also in helping businesses become more sustainable. Once such solutions become commonplace not just among airlines but also flight authorities around the world, we will look back at today and be surprised at how inefficient all of us were when planning routes.
  4. Predicting strikes. While strikes in aviation usually make headlines because of the disruption they have on travelers' plans (especially around major holidays), the fact that airlines can lose tens if not hundreds of millions per strike is often overlooked. In 2022, for instance, SAS lost $145 million over a 15–day pilot strike. As AI can analyze not just technical but also sociological data, a model could be designed to help airlines predict a potential strike and be better prepared for potential negotiations. Models like this that can predict the probability of individual employees leaving their jobs have already been developed by IBM, producing 95% accuracy.
  5. Improving workflows in–flight. An AI can serve as a helper not just to the staff on the ground but also to the cabin crew. It is not just about making routine tasks easier "" a properly trained tool can offer expert advice on managing the aircraft and making quick, informed decisions, especially when the pressure is on and quick decisions are vital. The wheels are already in motion to bring this vision to life, with Level 1 AI applications nearing certification, thanks to EASA's Trustworthiness of Machine Learning based Systems guidelines established in April 2022.
  6. Helping pilots and crew maintain their mental health. Could an AI model have prevented the suicide–by–pilot disaster of Germanwings Flight 9525 that led to the death of 150 people? While this is an area of much speculation, specially designed regular staff screenings can help predict the likelihood of mental issues exacerbated by exposure to stressful events, such as circadian rhythm disruptions, instances of turbulence, and onboard emergencies. Another promising application, which is already being tested by the UK startup Blueskeye AI, is the use of facial sensing technology to identify fatigue in pilots. Today, fatigue is calculated based on the number of hours a pilot has flown, but in the future, this metric will be highly individualized.
  7. Predicting the probability of Airworthiness Directives. An Airworthiness Directive (AD) for either a part of the frame or the engine can ground a sizeable share of an airline's fleet, especially one that is not diversified across different models. Knowing the likelihood of such a risk can massively help at different stages of fleet management "" from fleet formation to maintenance. Much like AI–driven risk management software in banks and financial institutions, a similar solution could be deployed to calculate and mitigate AD risks.
  8. Improving in–house quality management processes. While no malfunction will ever rival the $20 billion bill that Boeing had to foot because of the crashes and subsequent grounding of the 737 MAX, a QA issue can still bankrupt a company. While quality assurance standards in aviation are already higher than in any other industry due to strict regulation of everything related to safety and security, AI can boost in–house quality assurance protocols within the realms of aviation manufacturing and airline management. At the manufacturing stage, a sophisticated computer vision system enhanced by manual checks can better pinpoint flaws in components. For airlines, an AI–enhanced Safety Management System (SMS) can take into account vast amounts of data from various sources, including performance, weather partners and maintenance information.
  9. Finding the best logistics solution for AOG situations. While every aircraft on ground (AOG) situation is unique, it can cost the airline anything from $10,000 to $150,000, not to mention reputational damage. Figuring out the puzzle of both finding the spare part needed and delivering it in hours, and not days, can be tricky, especially if the AOG situation happens far away from major hubs. An AI solution could help the company quickly locate and ship the part to the aircraft. At the same time, a predictive maintenance solution can help prepare for potential AOG events and make sure that there are always enough critical parts in stock.
  10. Determining insurance pricing. In the post–9/11 world, aviation insurance buyers globally are still encountering escalating prices and diminished availability when it comes to war risk coverage. An AI model can help airlines calculate the risks they are facing more precisely, helping them to understand their "war risk" exposure when they are making insurance–related decisions.

About Gediminas Ziemelis

Gediminas Ziemelis (born April 4, 1977) is an accomplished Lithuanian entrepreneur, business consultant, and the founder and current Chairman of the Board of Avia Solutions Group, the largest global ACMI (Aircraft, Crew, Maintenance, and Insurance) provider, operating a fleet of 196 aircraft. He was selected twice among the top 40 most talented young industry leaders by Aviation Week & Space Technology.

Gediminas is known for his cosmopolitan mindset and exceptional management skills, which have contributed to his success in various business fields. Over his 26–year–long career, Gediminas has founded more than 100 start–ups, 50% of which are still in operation, led companies through 4 successful IPO/SPO processes, and raised over 800 million euros in global public capital and bond markets.

In December 2022, Gediminas Ziemelis was listed as the richest Lithuanian by TOP Magazine, with estimated assets worth 1.68 billion euros.

Gediminas is the largest donator of Rimantas Kaukenas Support Group, a charity and support fund, that provides help to children with oncological diseases and their families. He is also the biggest shareholder in the leading basketball club Wolves.


GLOBENEWSWIRE (Distribution ID 1000841364)

HRH Crown Prince launches Soudah Peaks’ masterplan

HRH Crown Prince launches Soudah Peaks' masterplan

RIYADH, Saudi Arabia, Sept. 27, 2023 (GLOBE NEWSWIRE) — His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Prime Minister, and Chairman of Soudah Development has launched the masterplan to develop Soudah and parts of Rijal Almaa into Soudah Peaks "" a luxury mountain tourism destination set 3,015 meters above sea level on Saudi Arabia's highest peak. Situated within an extraordinary natural and cultural environment in the Aseer region (southwest Saudi Arabia), the project is a key part of the Public Investment Fund (PIF)'s efforts to diversify the economy by expanding vital industries such as tourism, hospitality, and entertainment, and supporting Aseer development strategy.

HRH Crown Prince Mohammed bin Salman, Chairman of Soudah Development's Board of Directors, stated that Soudah Peaks represents a new era of luxury mountain tourism by providing an unprecedented living experience while preserving the natural environment, cultural, and heritage richness. It is strategically aligned with Vision 2030 goals of expanding tourism and entertainment, supporting economic growth, attracting investments, contributing more than SAR 29 billion to the Kingdom's cumulative GDP, and creating thousands of direct and indirect job opportunities.

HRH said, "The masterplan reaffirms our commitment to global efforts in preserving the environment and natural resources for future generations and aims to contribute to diversifying national income sources and building a strong economy that attracts local and global investments."

HRH added, “Soudah Peaks will be a significant addition to the tourism sector in Saudi Arabia and place the Kingdom on the global tourism map, whilst highlighting and celebrating the country's rich culture and heritage. Visitors will have the opportunity to discover the beauty of Soudah Peaks, explore its rich culture and heritage, and experience the authentic hospitality of the local community. Soudah Peaks will offer unforgettable experiences amidst lush greenery, above the clouds."

Soudah Peaks aims to offer high–end luxurious hospitality services to over two million visitors throughout the year by 2033. The masterplan is being designed to reflect the local traditional, and architectural styles, and will promote both the cultural and landscape heritage of the region. The destination will be home to 6 unique development zones: Tahlal, Sahab, Sabrah, Jareen, Rijal, and Red Rock. Each will offer a range of world–class facilities including hotels, luxury mountain resorts, residential chalets, villas, premium mansion sites, entertainment and commercial attractions, as well as outdoor attractions dedicated to sports, adventure, wellness and culture.

Soudah Development will deliver 2,700 hospitality keys, 1,336 residential units, and 80,000 square meters of commercial space for Soudah Peaks by 2033. The masterplan will be developed over three phases, with 940 hotel keys, 391 residential units, and 32,000 square meters of retail space expected to be completed in 2027, within Phase one.

Soudah Peaks is set across more than 627 square kilometers of awe–inspiring nature, with less than 1% of the land being acquired for building, reflecting Soudah Development's commitment to protecting and preserving the environment, following best–in–class sustainability standards, and contributing to the efforts of the Saudi Green Initiative.

As a closed joint–stock company owned by PIF, Soudah Development aims to develop a unique luxury mountain tourism destination in Saudi Arabia, whilst preserving the natural environment and cultural heritage of the project area spread across Soudah and parts of Rijal Almaa.

About Soudah Development
Soudah Development is a closed joint–stock company fully owned by the Public Investment Fund (PIF) of Saudi Arabia. It has been established to drive the development of a luxury mountain tourism destination, covering Soudah and parts of Rijal Almaa, in the Aseer region in southwest Saudi Arabia. It aims to preserve the natural landscape and respect the rich cultural heritage of the region, whilst attracting 2 million visitors every year by 2033. Soudah Development was announced by HRH Crown Prince Mohammad bin Salman bin Abdulaziz Al Saud, Prime Minister, and Chairman of PIF, on February 24, 2021.

For more information, visit the links below:
Website: www.soudah.sa & www.soudahpeaks.com
Twitter, Instagram, LinkedIn, and Facebook: @Soudahpeaks
Or by email: press@soudah.sa

Source: NewsBeatWire

Contacts:

Mohammed A. Alshehri

Press@soudah.sa

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

HRH Crown Prince launches Soudah Peaks' masterplan


GLOBENEWSWIRE (Distribution ID 1000841357)