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The Kingdom of Saudi Arabia is investing $100 million into luxury golf resorts as it partners with Canadian tech entrepreneur and BlackBerry co-founder Jim Balsillie.
The planned development of golf across the Kingdom will initially comprise seven to ten courses, with long-term ambitions of up to 100. It forms part of Saudi Arabia’s broad transformation under Crown Prince Mohammed bin Salman’s Vision 2030 strategy.
Balsillie, who owns Canada’s largest golf course operator, GolfNorth, told the Financial Times that his first course will break ground this year in Wadi Aslaa, near Jeddah.
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The resorts, co-developed with Sumou Global Investment, will include hotels and residential communities aimed at upper-middle-class buyers and international tourists.
“Our type of development is in line with the Kingdom’s push for more tourism and more residential accommodations — golf ties it all together,” Balsillie said.
A distinctive feature of the plan is its appeal to Muslim pilgrims visiting Mecca. “Come for history, natural beauty, and legendary hospitality. Stay for golf and modern lifestyle,” he added.
His Excellency Yasir Al-Rumayyan
The sport has grown since His Excellency Yasir Al-Rumayyan — head of the Public Investment Fund (PIF), Chairman of the Board of the Saudi Golf Federation, and Chairman of Golf Saudi Company — took over the Saudi Golf Federation in 2017. The PIF has invested $3.9 billion into LIV Golf and commissioned new courses, including one by Jack Nicklaus near Riyadh.
Balsillie acknowledged the competitive landscape in neighbouring Arab countries, citing the UAE and Oman’s established golf tourism. “The question is why wasn’t this type of project done, say 10 or 20 years ago when Oman and UAE were doing the same thing?”
While Balsillie confirmed that the project does not currently receive government funding or tax incentives, he suggested that support “might change down the road.”
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