The Kingdom’s efforts to reduce regional inequality through major state-backed projects in Aseer province got ink from the Financial Times, highlighting the government’s SAR 25 bn investment pledge in Aseer, of which SAR 20 bn will come from the Public Investment Fund (PIF) to support major developments including the flagship Soudah Peaks project — dubbed “Beverly Hills of Saudi Arabia.”

The salmon-colored paper is following the change already seen in Abha, including women in the driving seat, young Saudis taking jobs as baristas and taxi drivers, and dress-codes gradually relaxing. Private-sector projects are also emerging, including a retail and hotel complex, being developed by a Saudi company, and a USD 150 mn luxury hotel in Soudah mountains by US-based Amek Group.

Although unemployment in Aseer has fallen from 17% three years ago to 10.7% today, the paper notes it is still the highest among the Kingdom’s provinces, with average household income remaining far lower than that in Riyadh. This income gap between Riyadh and other provinces has pushed over 250k Saudis to move to the capital in the last five years, pushing rents up by 30%-40%. “Disparities in transition are normal. What’s important is to understand what’s driving them,” Economy Minister Faisal Alibrahim noted.

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