Latest news with #AlWahaDuty-FreeCompany
FACT
12-03-2025
- Business
- FACT
Saudi Arabia enters the duty-free game with Al Waha
Outlets are expected to pop up across airports in the Kingdom. Saudi Arabia is pulling out all the stops to elevate the experience of residents and visitors alike. From new travel experiences to delicious dining options, the Kingdom is on a mission to redefine its global appeal. And now, Saudi Arabia duty-free is launching its own retailer — Al Waha. PIF has officially announced the establishment of Al Waha Duty-Free Company (Al Waha), making it the first Saudi-owned duty-free operator. This venture will position Saudi Arabia as a leader in travel retail and enhance the traveller experience. Al Waha is set to open duty-free outlets at major airports across Saudi Arabia, offering travellers a premium shopping experience. The company is also looking at land border crossings, seaports, and even inflight shopping as part of its long-term strategy. This means that wherever you are in transit within Saudi Arabia, you might soon be able to shop duty-free with Al Waha. The Al Waha launch by PIF is part of Saudi Vision 2030. The PIF is playing a key role in diversifying the country's economy beyond oil, and Al Waha is the latest example of this transformation. While exact opening dates are yet to be revealed, travellers can expect Al Waha to roll out its operations soon. With major global events like Expo 2030, the 2027 Asia Cup, and the 2034 FIFA World Cup coming to Saudi Arabia, these outlets could open as soon as within the next two years. With luxury shopping experiences and high-end Saudi products, Al Waha is set to redefine travel retail in the Kingdom. So, next time you find yourself at a Saudi airport or a border crossing, keep an eye out for Al Waha. GO: Visit for more information.
CairoScene
11-03-2025
- Business
- CairoScene
Saudi's First Locally Owned Duty-Free Retailer Al Waha Takes Off
Operations will include airport duty-free stores, land border crossings, seaports and inflight shopping. Saudi Arabia's Public Investment Fund (PIF) has launched Al Waha Duty-Free Company, marking the Kingdom's first domestically owned duty-free retailer. Al Waha plans to establish luxury retail outlets in key locations nationwide, offering a diverse range of products, including premium Saudi goods. The company's operations will encompass duty-free stores at airports, land border crossings, seaports, and inflight shopping services. This initiative aligns with Saudi Arabia's broader strategy to enhance its travel and tourism sectors, aiming to attract 150 million visitors annually by 2030. The PIF has been actively investing in related infrastructure, including the development of King Salman International Airport in Riyadh, designed to be one of the world's largest airports upon completion, and the launch of Riyadh Air, the new national carrier intended to position Riyadh as a major global travel hub.
Trade Arabia
11-03-2025
- Business
- Trade Arabia
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.
Zawya
10-03-2025
- Business
- Zawya
PIF launches Al Waha, first Saudi-owned duty-free retailer
Al Waha to drive growth in Saudi Arabia's travel retail market by enhancing the traveler experience RIYADH – PIF today announced the establishment of Al Waha Duty-Free Company (Al Waha), a travel retailer and the first Saudi-owned duty-free operator. Al Waha, a wholly owned PIF company, will become a leader in travel retail and secure a greater share of passenger spending for the Saudi economy. 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. Al Waha 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. 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. 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. '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 Saudi Arabia – as well as global events being hosted locally – offer new opportunities to generate sustainable travel retail revenues.' PIF is unlocking the capabilities of strategic sectors to further diversify the Saudi economy. Today's announcement 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; with a large number of retail stores and restaurants, and capacity for 120 million passengers annually. PIF has also launched Riyadh Air, the new Saudi flag-carrier, which is intended to make Riyadh a major international air travel hub. Other PIF tourism investments include Jeddah-based Red Sea Cruise Company Cruise Saudi, which aims to make the Saudi coastline a premier global destination. Retail investments include the Saudi Coffee Company, Al Madinah Heritage Company – which focuses on quality date production – and Sawani, which makes camel milk products. About PIF PIF is the investment engine driving economic transformation for Saudi Arabia and the world. With an ambitious program to deliver Vision 2030, PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment. And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future. Since 2017, PIF has established 103 companies and is driving the transition to a more sustainable economy through strategic investments and partnerships across the Saudi public and private sector. PIF is laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia.
