PIF Launches Gulf Coast Firm for Al-Khafji Project

The Public Investment Fund has launched a new real estate company, Gulf Coast Development Company (شركة ساحل الخليج للتطوير العقاري), to develop an integrated tourism and residential destination on the Al-Khafji coast in the Eastern Province, near the Kuwait border.

the development will span around 20 square kilometers of land and feature a 10-kilometer waterfront along the Arabian Gulf. It is designed to include eight residential neighborhoods with more than 16,000 housing units, positioning it as a major addition to the region's coastal living options.

On the hospitality side, the destination is planned to offer around 1,400 hotel keys, alongside tourism, commercial, and educational facilities, public services, and marinas. Development will be carried out in three main phases, with the first phase covering three neighborhoods and scheduled for completion in 2030.

Why it matters

The project reflects continued investment in the Eastern Province's coastline, offering future residents and visitors a mix of housing, leisure, and marine facilities. For local communities and expats considering the area, it signals long-term growth in tourism and real estate.

As of September 2026, the project remains at the master-development stage. No official sales prices in Saudi Riyal for residential units or land plots have been announced, and no price lists are publicly available. Likewise, no booking channels, visitor fees, or schedules for tourism activities and accommodation have been published.

No specific government e-platforms have yet been designated for end-user transactions related to the Al-Khafji project, and detailed procedures for purchasing units, obtaining building permits, or leasing commercial and hospitality space have not been released. Reservation mechanisms and launch dates for residential sales have also not been detailed beyond Saudi Arabia's general real estate regulatory framework. Saudi Living will share updates as official details become available.

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