Saudi Arabia’s PIF Launches New Coastal Development Company as Al-Khafji Investment Expands

Saudi Arabia’s Public Investment Fund has launched the Gulf Coast Development Company to deliver a major residential and tourism destination along the Al-Khafji coastline.

Spanning approximately 20 square kilometres and 10 kilometres of Arabian Gulf waterfront, the development is expected to include eight residential neighbourhoods, more than 16,000 homes and around 1,400 hotel rooms. Commercial spaces, tourism facilities, schools and dedicated marinas are also planned.

For investors, the significance extends beyond the number of properties being delivered. Al-Khafji’s location near Kuwait gives the project access to demand from Saudi residents, cross-border visitors and the wider Gulf market.

PIF also intends to develop the destination alongside private-sector partners and local and regional investors, potentially creating opportunities across residential property, hospitality, retail and supporting infrastructure.

Pricing, delivery stages and investment structures have not yet been announced. However, the launch places Al-Khafji firmly within Saudi Arabia’s expanding development pipeline and signals growing attention beyond the Kingdom’s established investment centres.

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Originally posted on LinkedIn