Latest news with #AseerInvestmentForum
Leaders
4 days ago
- Business
- Leaders
ARDARA Launches First-Ever Lifestyle Community at AlWadi Destination
Prince Turki bin Talal bin Abdulaziz, Governor of Aseer Region and Chairman of ARDARA, officially announced the launch of ARDARA's first modern lifestyle community at AlWadi. The announcement took place during the second Aseer Investment Forum, held at King Khalid University in Abha, and included new details about this landmark destination. ARDARA, fully owned by the Public Investment Fund (PIF), is leading the development. This milestone project highlights ARDARA's mission to create integrated residential and tourism destinations that elevate the Aseer Region's profile within the national development framework. It reflects the company's strong commitment to sustainable urban planning and enhancing quality of life. The initial phase of the project includes a diverse range of offerings: A five-star hotel with approximately 180 rooms A four-star hotel featuring around 245 rooms 40 luxury branded apartments and 42 luxury branded villas 62 premium apartments 4,500 square meters of high-end retail space Public amenities such as walking and cycling paths, and environmentally friendly mobility solutions In pursuit of world-class hospitality standards, ARDARA has signed a letter of intent with Hilton to operate a Waldorf Astoria hotel within the development. Further expanding its vision, ARDARA signed a memorandum of understanding (MoU) with Sumou Holding to develop future phases of AlWadi. These will include mixed-use urban communities that integrate residential, hospitality, and entertainment elements—aligned with the National Tourism Strategy and grounded in principles of sustainability and smart urban development. The potential value of this partnership stands at SAR 1 billion. ARDARA, SEDCO ARDARA also entered a strategic MoU with SEDCO Capital to manage an investment fund worth SAR 1 billion for the development of an urban project in Abha. Additionally, the initiative aims to blend residential, hospitality, and entertainment components to drive economic and tourism growth in the Aseer Region. Furthermore, ARDARA signed an MoU with Southern Province Cement Company to promote sustainable urban development practices. The agreement covers the supply of eco-friendly 'green cement,' joint greening and community initiatives, and technical knowledge sharing—contributing to both environmental sustainability and construction excellence across the region. 'The launch of our first lifestyle community in AlWadi represents a unique investment opportunity in Aseer,' said Naif bin Saleh Al-Hamdan, Managing Director of ARDARA. 'It offers exclusive waterfront properties and a vibrant community that honors Saudi heritage while embracing modern living. Finally, the strategic partnerships we announced today underscore our commitment to innovation, sustainability, and investment value—fully aligned with the Public Investment Fund's initiatives and Saudi Vision 2030.' Related Topics: IARDA Licenses 40 Tour Guides Culture Ministry Launches Saudi-Chinese Cultural Year 2025 Riyadh Art Completes Installation of Davide Rivalta Sculptures 'The Neighbors of the Moon': an Ideal Tourist Destination in Jizan Short link : Post Views: 21
Leaders
4 days ago
- Business
- Leaders
Aseer Investment Forum Showcases Promising Tourism, Development Prospects
The third workshop of the second edition of the Aseer Investment Forum, hosted at King Khalid University in Al Faraa, featured a dynamic session titled 'Aseer: One Journey, Unforgettable Experiences.' The event brought together key figures and experts from the tourism, investment, and development sectors to spotlight the region's emerging opportunities. Aseer Investment Forum Participants identified the Aseer Region as a leading destination on the national tourism map, praised for its rich cultural heritage and diverse natural environment. They noted the region's strong appeal to investors, citing its supportive infrastructure and skilled workforce. Eng. Hashem Al-Dabbagh, Acting CEO of the Aseer Region Development Authority, highlighted the ambitious goals of the 'Aseer Season,' which aims to attract 9 million tourists by 2030. He reaffirmed the region's potential to become a top-tier destination for both local and international visitors. Related Topics : Saudia, Aseer Development Authority Cooperate on Boosting Tourism 'Aseer Manuscripts Exhibition' Showcases Region's History, Culture Mohammed bin Salman Project Revitalizes Al-Oudah Mosque in Diriyah Under Historic Initiative Saudi Development Fund Announces $90m for Infrastructure Dev't in Caribbean States Short link : Post Views: 1 Related Stories
Asharq Al-Awsat
4 days ago
- Business
- Asharq Al-Awsat
Multi-Billion-Riyal Investments Position Aseer as a Rising Economic Power in Saudi Arabia
Southern Saudi Arabia's Aseer region is fast emerging as a new economic powerhouse, fueled by multi-billion-riyal investments across diverse sectors. This transformation is part of a broader government push to unlock the region's economic potential and establish it as a key private sector enabler. The second edition of the Aseer Investment Forum, which opened Tuesday, is expected to draw over SAR 4 billion ($1.06 billion) in new investments. This comes on top of more than SAR 5 billion ($1.33 billion) already secured since the launch of the region's development strategy. Additionally, SAR 25 billion ($6.6 billion) have been committed to strategic government-led projects already underway on the ground. Launched in 2021 by Prince Mohammed bin Salman, Crown Prince and Prime Minister, the Aseer Development Strategy, titled 'Qimam wa Sheym' (Summits and Values), aims to inject SAR 50 billion into a wide range of projects. The initiatives focus on vital infrastructure, tourism development on Aseer's majestic peaks, and long-term growth that merges cultural heritage with modernity. The ultimate goal is to make Aseer a year-round global tourist destination and a catalyst for economic and social development. The investment forum, organized by the Aseer Development Authority, brings together 1,500 key stakeholders, including policymakers, investors, and sector leaders. It aims to accelerate public-private collaboration, foster a competitive investment environment, and support Saudi Arabia's Vision 2030 goals. Officials are seen at the forum on Tuesday. (Asharq Al-Awsat) Strategic partners In his opening remarks, Prince Turki bin Talal, Governor of Aseer and Chairman of the Aseer Development Authority, highlighted the SAR 25 billion already committed to essential infrastructure and development projects. These efforts are backed by strategic partners, such as the Public Investment Fund (PIF), Tourism Development Fund, Social Development Bank, and other financing entities. 'This forum is not merely an economic gathering; it is a strategic milestone,' said Prince Turki. 'It confirms Aseer's transformation into a comprehensive development hub and a vital pillar of the national economy.' Business growth on the rise Participating virtually, Minister of Commerce Dr. Majid Al-Qasabi revealed that Saudi Arabia had registered 1.7 million commercial licenses as of April 2025, 90,000 of which are based in Aseer, representing 5.3% of the national total. He noted that commercial registrations for sole proprietorships have risen by 32%, from 939,000 in 2018 to 1.2 million in 2025. Limited liability company registrations surged 138%, while joint-stock company registrations grew 76% during the same period. Al-Qasabi also highlighted a total trade value of SAR 2.018 trillion ($537 billion) in 2024, with SAR 1.145 trillion in exports and SAR 873 billion in imports. In the services sector, trade reached SAR 542 billion, including SAR 182 billion in service exports. Within Aseer, authorities recorded 24,000 consumer reports and 1,200 violations from April 2024 to April 2025, based on 35,000 inspections conducted by regulatory teams. He outlined seven key reform pillars, including improving the legal framework, enhancing consumer protection, cracking down on price manipulation and fraud, modernizing both traditional and e-commerce environments, expanding international market access, supporting SMEs, and bolstering public-private partnerships. A total of 110 laws have been reviewed or updated as part of this effort. Minister of Tourism Ahmed Al-Khateeb speaks at the forum. (Asharq Al-Awsat Tourism as a growth engine Tourism also features prominently in Aseer's economic resurgence. Minister of Tourism Ahmed Al-Khateeb pointed to the region's abundant natural and cultural resources and emphasized its critical role in achieving sustainable development. According to Al-Khateeb, Aseer attracted 8 million visitors in 2024 from inside and outside the Kingdom, underscoring its rise as a key tourism destination. The region is expected to add 4,000 new hotel rooms in the coming years, supported by government tourism initiatives and increasing interest from global hospitality brands. 'The sector is experiencing continuous growth,' Al-Khateeb noted, adding that Aseer's unique assets are helping drive the national tourism agenda forward. Capital market expansion Meanwhile, Mohammed Al-Kuwaiz, Chairman of the Capital Market Authority, highlighted the evolving role of Saudi Arabia's capital markets from traditional investment platforms to vital sources of business funding. He revealed that over SAR 7.5 billion ($2 billion) in capital market investments are already being channeled into Aseer. This includes established firms such as Southern Cement, as well as newer players in sectors, like poultry and healthcare. 'We're now seeing the emergence of real estate and development funds in Aseer,' Al-Kuwaiz said, noting that approximately SAR 2 billion are currently managed through real estate funds supporting tourism and retail development in the region. Engineer Hashim Al-Dabbagh, Acting CEO of the Aseer Development Authority, told Asharq Al-Awsat that investment is a central pillar of the region's three-part development strategy that is focused on people, economy, and land. He explained that the forum is an essential tool for attracting investments that create jobs and stimulate local economic growth, especially for the region's youth. 'Aseer is not just investing in projects, it's investing in its future,' Al-Dabbagh said.
Saudi Gazette
5 days ago
- Business
- Saudi Gazette
Aseer draws 8 million tourists in 2024, minister says
Saudi Gazette report ABHA — Minister of Tourism Ahmed Al-Khateeb announced that Aseer Region welcomed around 8 million tourists in 2024, positioning it as one of Saudi Arabia's leading tourism destinations. The announcement came on Tuesday during his participation in the second edition of the Aseer Investment Forum. Al-Khateeb highlighted Aseer's unique natural and cultural assets, saying they make the region an increasingly attractive environment for tourism investment. He revealed that the region's hospitality sector is set to expand with the addition of nearly 4,000 new hotel rooms in the coming years, supported by Saudi Arabia's broader tourism ecosystem. The minister also underscored the ministry's ongoing efforts to attract global hospitality brands, many of which are now eyeing Aseer due to its untapped potential and growing emphasized the crucial role of the local community, especially Aseer's youth, in delivering an authentic and memorable tourism noted that Aseer has evolved beyond its traditional image as a seasonal summer destination, becoming a year-round attraction thanks to its rich environmental and cultural the region's key cultural draws are Asiri arts such as Al-Qatt Al-Asiri, traditional clothing, and local cuisine, all of which have helped shape a distinctive tourism identity for the region.
Zawya
5 days ago
- Business
- Zawya
Aseer Investment Forum kicks off in its second edition
Abha: Under the patronage of His Royal Highness Prince Turki bin Talal bin Abdulaziz, Governor of the Aseer Region, the second edition of the Aseer Investment Forum commenced this morning, Tuesday, at King Khalid University's campus in Al-Fara'a, Abha, under the theme 'Aseer Thrives... Invest Now.' The event features the participation of several esteemed ministers, senior officials, investors, and experts from within the Kingdom and abroad. The forum is part of the Aseer Development Authority's efforts to position the region as a leading investment destination. This second edition brings together 1,500 guests, including leaders from developmental sectors, investors, and decision-makers, to discuss ways to develop the investment environment in the region and enhance the synergy between the public and private sectors, in line with the objectives of Saudi Vision 2030. The forum opened with a ministerial session titled 'Aseer Shines... An Investment Destination on the Global Map,' featuring the participation of His Excellency Mr. Abdullah Al-Atiyah, Minister of Municipal Affairs of the State of Qatar, His Excellency Mr. Ahmed Al-Khateeb, Minister of Tourism, and His Excellency Engineer Abdullah Al-Swaha, Minister of Communications and Information Technology. The speakers in the session discussed the role of infrastructure, digital transformation, and major events—including the bid for the city of Abha to host the 2034 FIFA World Cup—in supporting the economic development trajectory of the region. His Excellency Dr. Majid Al-Qasabi, Minister of Commerce, also participated in the forum through a keynote address, where he discussed the performance of the commercial sector in the Aseer region, the ministry's role in facilitating the investor journey, stimulating the business environment, and highlighting the role of chambers of commerce in supporting the growth of various regions. The forum also saw the participation of His Excellency Mr. Mohammed Al-Quwaiz, Chairman of the Capital Market Authority, in a talk focusing on enabling promising regions through capital markets, available financing mechanisms for investors, and the development of laws and regulations to stimulate the national economy. The forum includes five main sessions that discuss key aspects of the investment environment in the Aseer region, as well as available opportunities in the sectors of tourism, technology, infrastructure, and the creative economy. The sessions also highlight the role of the Public Investment Fund (PIF) in supporting development through its flagship projects, along with the participation of its subsidiaries in accelerating growth and enhancing sustainability. One of the forum's highlights is the announcement of the launch of 'Qimam Al-Sarrah' company as an investment arm to support land development efforts and facilitate regulatory processes for investors. The forum will also unveil several unique projects presented for the first time, which are expected to strengthen Aseer's position on both the national and global economic map. In addition, the forum features a number of specialized workshops addressing topics such as tourism financing, empowering investors, improving regulations, and showcasing investment opportunities. A concurrent exhibition showcases diverse projects, with a dedicated section for supporting entities. The forum is expected to witness the signing of several agreements and partnerships between the public and private sectors. The second edition of the forum reaffirms Aseer's commitment to achieving comprehensive developmental progress, based on the equitable distribution of investment opportunities among the governorates, strengthening the region's environmental and cultural identity, and fostering collaboration between government entities and local communities, aiming to build a sustainable, integrated investment model. The forum serves as a strategic platform for strengthening national and international partnerships, stimulating qualitative investments, and enhancing the region's readiness to host major projects, as part of a national vision that seeks to achieve a thriving economy, a vibrant society, and a globally competitive standing for all regions of the Kingdom.
