# Saudi PIF launches firm to develop tourism, residential area on Gulf coast

https://mins.news/en/item/48655

- Reuters, 2026-09-07 16:30 UTC
- Economy
- Original: https://www.reuters.com/world/middle-east/saudi-pif-launches-firm-develop-tourism-residential-area-gulf-coast-2026-09-07/?link_source=ta_bluesky_link&taid=6a9ee699abedf1000171c066

> Saudi Arabia’s Public Investment Fund said on Monday it had launched a real estate company to develop tourism and residential projects along the Al-Khafji coastline on the Gulf, as the sovereign wealth fund commits billions of dollars to infrastructure projects.