Riyadh - Exclusive Sharikat Mubasher: The Saudi Tourism Investment Company (Asfar) developed six cities across the Kingdom since its launch in July 2021, Executive Director of Investments Abdulrahman AlMalik exclusively told Sharikat Mubasher on the sidelines of the Private Sector Forum 2024.

The official revealed that the company injected investments ranging between SAR 150 million and SAR 400 million in each city, in partnership with the private sector.

AlMalik further noted that the private sector's investments in these projects surpassed SAR 300 million.

The six cities are Al Khobar, Al-Ahsa, Al-Baha, Yanbu, Taif, and Hail.

He added that Asfar’s objective is to enable and partner with private sector companies to redefine the tourism sector in the Kingdom.

Asfar, wholly owned by the Public Investment Fund (PIF), targets shaping the Saudi tourism and entertainment sector by transforming promising cities into tourism destinations, in alignment with Vision 2030’s objectives.

It is worth noting that Asfar signed a memorandum of understanding (MoU) with Sumou Holding, on the sidelines of the forum, to explore potential cooperation opportunities across the Eastern Province and the entire Kingdom.

The Private Sector Forum 2024 served as a platform for collaboration, unveiling new opportunities, and empowering the private sector to spearhead economic growth and achieve national goals.