Riyadh - Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) announced the establishment of Al Waha Duty-Free Company (Al Waha), a travel retailer and the first Saudi-owned duty-free operator, to develop retail outlets in select locations across the Kingdom.

Al Waha will become a leader in travel retail and secure a greater share of passenger spending for the Saudi economy, the PIF stated in a press release today.

Featuring a variety of merchandise including distinctive and high-quality Saudi products, the PIF company will operate its airport outlets on a duty-free basis and explore additional travel retail opportunities at land border crossings and seaports, as well as channels such as inflight shopping.

Majed Al-Assaf, Head of Consumer Goods and Retail in MENA Investments at PIF, said: “By establishing Al Waha as a national travel retail champion, PIF intends to grow the Saudi travel retail industry and further support its ambitions for the tourism sector in Saudi Arabia.”

He noted that Al Waha will offer a distinctive traveler experience across Saudi travel retail touch points through diverse product offerings, a duty-free operation, and a superior digital customer journey.

Launching the new company follows a series of investments by PIF in tourism, aviation, and retail. These include King Salman International Airport in Riyadh, which had its masterplan launched in 2022, and which is designed to be one of the world’s largest airports upon its completion.