Dammam Development Company has constructed the monument of prince Saud Bin Naif Bin Abdul-Aziz in order to participate in the development of Dammam area along with the government sector based on its vision to support the social community activities, which are among the main factors to measure the success and development of societies. The monument was officially opened on Sunday, 27 June 2010.

The idea and design of this memorial has been derived from the Saudi tradition. This distinguished monument is located at King Fahd Street in Dammam City.