PIF launches first Saudi-owned duty-free retailer
Saudi Arabia's sovereign wealth fund PIF has announced the establishment of Al Waha Duty-Free Company (Al Waha), a travel retailer and the first Saudi-owned duty-free operator.
Al Waha will develop luxury retail outlets in select locations across the country and feature a variety of merchandise including distinctive, high-quality Saudi products.
The company will operate its airport outlets on a duty-free basis, and will explore additional travel retail opportunities at land border crossings and seaports, as well as channels such as inflight shopping, said the company in a statement.
Majed Al Assaf, the 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."
"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," he stated.
A wholly-owned PIF company, Al Waha will become a leader in travel retail and secure a greater share of passenger spending for the Saudi economy.
Al Assaf further highlighted that there is considerable potential for Saudi Arabia to gain a larger share of travel retail spending in the future, and the continued increase in visitors coming to the country - as well as global events being hosted locally - offer new opportunities to generate sustainable travel retail revenues.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Syyaha
4 hours ago
- Syyaha
flynas Celebrates Launching Direct Flights Between Riyadh and Damascus Becoming the first Saudi airline to connect the two countries in 12 years
flynas, the leading low-cost airline in the world and the best LCC in the Middle East, celebrated launching direct flights Between Riyadh and Damascus on Thursday, June 5, becoming the first Saudi airline to connect the two countries in 12 years, further expanding its network in line with flynas growth and expansion plan, launched under the title 'We Connect the World to the Kingdom,' in parallel with the objectives of the National Civil Aviation Strategy to enable national air carriers to contribute to connecting KSA with 250 International destinations and to accommodate 330 million passengers and to host 150 million tourists yearly by 2030 and the objectives of the Pilgrims Experience Program (PEP) to facilitate access to the Two Holy inaugural ceremony was held at King Khalid International Airport (KKIA) in Riyadh on Thursday, June 5, attended by the Syrian Charge d'Affaires Hussain Abdulaziz and representatives from flynas and the Riyadh Airports Company, which manages and operates KKIA, as well as media representatives. Travelling guests on the departing inaugural flight to Damascus were welcomed with giveaways, and the aircraft was received with a 'water salute' upon its arrival at Damascus International Airport, in the presence of the Saudi Charge d'Affaires Abdullah Al-Haris, and representatives from the Syrian General Authority of Civil Aviation, flynas, and Damascus International flights to the Syrian capital confirms flynas' commitment to strengthening ties between the two brotherly nations, as the leading LCC has been a pioneer in providing air routes between the Kingdom and various Syrian cities. flynas previously operated direct flights from Riyadh and Jeddah to Damascus, Aleppo, and operates 139 routes to more than 70 domestic and international destinations in 30 countries with more than 2000 weekly flights and has flown more than 80 million passengers since its launch in 2007, with the aim to reach 165 domestic and international destinations within its growth and expansion plan, and in line with the objectives of Vision 2030. Passengers traveling with flynas can book their flights through all flynas booking channels: the flynas app, the call centre (920001234), or travel agents.
Daily Tribune
a day ago
- Daily Tribune
AI, drones, cameras to keep hajj pilgrims safe
AFP | Mecca Working day and night in front of maps, screens and seemingly endless data, Saudi officials have harnessed artificial intelligence to help manage the million-strong sea of pilgrims during the hajj. The technology has proven pivotal to track the overwhelming amount of footage from more than 15,000 cameras in and around the holy city of Mecca. The systems are tuned to spot abnormal crowd movements or predict bottlenecks in foot traffic -- a potential life-saver at a packed event with a history of deadly stampedes. Software is also used to help guide more than 20,000 buses deployed to transport pilgrims between holy sites during one of the world's biggest annual religious gatherings. It is all part of the tech arsenal that Saudi Arabia is deploying as 1.4 million faithful from across the globe descend on Mecca and its surrounds. 'In our traffic control room, we use specialised cameras that have AI layers to analyse movements, crowded areas' and predict behaviours, said Mohamed Nazier, chief executive officer for the General Transport Centre at the Royal Commission for Mecca. The centre has a main control room in Mecca filled with screens and maps, where staff use high-tech tools including AI for round-the-clock monitoring. About a dozen staff members sit in rows before desktop computers with a large display at the front, zooming in on crowd movements around the holy sites. On hillsides nearby, cameras that resemble little white robots film buildings, roads and pathways along the hajj route, which winds more than 20 kilometres (12 miles) between Mecca and Mount Arafat. Nazier said the constant monitoring is aimed at averting traffic collisions with pedestrians on crowded routes while also making sure there are buses available to minimise walking time in the desert heat. 'Our eye on the ground' With its cutting-edge technology, 'the control room is our eye on the ground,' said Mohammed al-Qarni, who oversees the hajj and the year round umrah pilgrimage at the transport centre. Artificial intelligence helps to determine 'the flow on the (roads to the holy sites), and detects emergency situations even before they occur', he told AFP, adding that the technology can help assess the number of people in a single place. Cameras and AI can estimate if a site has reached maximum capacity, allowing authorities to divert the flow of pilgrims, Qarni said. During the holy month of Ramadan this year, the system spotted when the Grand Mosque had reached full capacity. 'The flow to the Haram (Grand Mosque) was stopped and the process cont rolled,' he said.
Trade Arabia
a day ago
- Trade Arabia
ROSHN Group backs Hajj Season Support Programme as Main Sponsor
ROSHN Group, Saudi Arabia's leading multi-asset real estate developer and a PIF company, is collaborating with the Ministry of Defense to enrich the Hajj experience for pilgrims. ROSHN Group said it is proud to serve as a Main Sponsor of the 1446H Hajj Season Support Programme, under the supervision of the Ministry of Defense's General Directorate for Safety Services. The programme aims to serve more than 50,000 pilgrims, including ministry personnel, guest pilgrims from within the kingdom and abroad, and the families of martyrs and active-duty soldiers. ROSHN Group's contribution involves providing vital supplies and support services across the holy sites, helping ensure a dignified, safe, and comfortable pilgrimage for all. This collaboration reflects the group's commitment to national initiatives and community well-being. It aligns with the goals of Saudi Vision 2030, particularly the Pilgrims Experience Program, which seeks to enrich the spiritual journey of every pilgrim while enhancing the Kingdom's standards of hospitality and care, ROSHN Group said. - TradeArabia News Service
