AlUla Development Company
Abdullah Farid Shaker is a seasoned professional with extensive experience in financial management and advisory roles. Currently serving as Senior Director at the Public Investment Fund since April 2021, Abdullah also holds key positions as a Board Member at AlUla Development Company and Water and Electricity Holding Company. Previous roles include leadership positions at Al Baraka Financial Investments in Egypt and Itqan Capital, as well as significant contributions at Deloitte and HSBC Saudi Arabia. Abdullah’s educational background includes a Bachelor’s degree in Accounting from King Abdulaziz University and advanced degrees in Accounting and Finance from the University of Illinois Urbana-Champaign.
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AlUla Development Company
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AlUla Development Company is a Public Investment Fund (PIF) company that has been established to support the development of AlUla. It will build and operate a world-class portfolio of hospitality, residential, retail and commercial assets in collaboration with the Royal Commission for AlUla (RCU) and the private sector. With a long-term investment strategy aimed at sustainable economic growth, UDC will rejuvenate and preserve one of the world's largest and oldest cultural sites and create opportunities for the local community in AlUla and the people of Saudi Arabia. AlUla Development Company serves as the gateway to opportunity and growth in AlUla, providing a wide range of opportunities for local and international investment across various sectors. It will offer companies with a chance to be part of Saudi Arabia's ongoing transformation in the pursuit of its goals to support the responsible, sustainable development of AlUla. UDC’s real estate footprint will cover a total gross floor area of 7.3 million square meters. The primary focus includes hotels but extends to villas and penthouses, contemporary apartments built in the new low-rise Saudi architectural style, offices, warehouses, secondary infrastructure, retail and more. AlUla Development Company will support the achievement of PIF goals in line with Vision 2030 and unlock the capabilities of new and promising sectors and support the economic diversification in Saudi Arabia.