Saudi Arabia’s Tourism Development Fund (TDF) has announced new investments and partnerships worth approximately $773 million at the TOURISE 2025 Forum. These initiatives aim to diversify the Kingdom’s tourism portfolio, aligning with broader Vision 2030 objectives.
The newly announced projects emphasise the development of five main tourism hubs in the Aseer region and will deliver 1,211 hotel rooms.
Among the highlighted projects is the Jareed Asir Project, a five-star hotel with 116 rooms, partnered with NMR Real Estate Development. Secondly, there is Aldhabab Land, a mixed-use site with a 150-room facility, providing tourists with views of the Sarawat Mountains.
TDF has also partnered with Shaden Hospitality Company for the Al-Hadhba Project. This venture includes an Anantara-branded luxury wellness resort and a glamping site, featuring 75 hotel rooms, 50 glamping units and an adventure centre.
The Westin Resort is another key development. It will boast 460 rooms coupled with entertainment amenities.
The deals also include a partnership with Modern Choice Development Company to establish Earth Hotels in Riyadh. An investment in a fund managed by GIB Capital is set to bring forth the world’s largest Mantis resort, the Basiqat by Mantis, in Al-Uyaynah, with 218 rooms and villas.
As previously reported, a memorandum of understanding (MoU) with Al Balad Development Company (BDC), owned by the Public Investment Fund (PIF), was also signed at TOURISE. It will bolster private sector projects in Jeddah’s historic district Al Balad. BDC has similarly launched a $3.6 billion suite targeting over 3,300 hotel units, enhancing Saudi Arabia’s hospitality and cultural sectors.
One of Vision 2030’s major pillars is to achieve 150 million annual visitors and a 10 percent GDP contribution from tourism.
