Riyadh - Sharikat Mubasher: Saudi Arabia’s Tourism Development Fund (TDF) unveiled multiple projects and strategic partnerships exceeding SAR 10 billion during the TOURISE Summit 2025.

According to a recent statement by TDF, the fund launched a portfolio of projects and partnerships worth SAR 2.9 billion to reshape the future of tourism in Saudi Arabia. This included five integrated projects: Jareed Aseer Resort, a 116-key five-star hotel; Aldhabab Land project, a 150-room hotel overlooking the Sarawat Mountains; Al-Hadbah project, a 75-key luxury wellness resort; the Westin Resort, a luxury resort blending modern elegance with Saudi culture; and The House Residence, a new tourist destination in Aseer offering various accommodation facilities, retail stores, and restaurants and cafés.

During the second day of the summit, TDF signed strategic agreements worth over SAR 700 million, including a SAR 570 million agreement to invest in a fund managed by GIB Capital to develop the Basiqat by Mantis project in Al-Uyaynah. The fund also signed a financing agreement with Modern Choice Development Company to establish Earth Hotels in Riyadh. The project will offer 86 eco-friendly accommodation options and vibrant facilities, including restaurants, social spaces, and recreational areas.

Further, TDF signed a memorandum of understanding (MoU) with Al-Balad Development Company to jointly enable and support private sector projects in Historic Jeddah. The fund concluded its participation in the TOURISE Summit 2025 with the launch of several projects worth over SAR 7 billion to develop tourist destinations in Al Khobar.

TOURISE Summit 2025 took place in Riyadh from 11 to 13 November and gathered visionaries from government, business, investment, tourism, and technology communities to deliver high-impact initiatives and transformative deals.