Latest news with #PrinceTurki
Zawya
4 days ago
- Business
- Zawya
TDF participates as 'Strategic Partner' in Aseer Investment Forum
Abha – Under the patronage of HRH Prince Turki bin Talal bin Abdulaziz, Governor of the Aseer Region and Chairman of the Aseer Development Authority, the Tourism Development Fund (TDF) -the national enabler of the tourism sector- took part in the 2nd edition of the Aseer Investment Forum. The forum spotlights high-potential investment opportunities across the region's key sectors, with a special focus on tourism. TDF's participation as a strategic partner reaffirms its commitment to supporting high-impact projects, empowering MSMEs, and accelerating tourism investments in a region known for its extraordinary natural and cultural appeal. As part of the forum's agenda, senior executives from TDF embarked on site visits to several flagship tourism projects supported by the Fund in the Aseer region. The tour began with The Point—the region's largest mixed-use development. Spanning 75,000 square meters, the destination marks the first Hilton-branded hotel in Aseer, featuring 250 guest rooms. The project also includes a vibrant retail hub with 150 stores, 41 restaurants and cafés, and 10 state-of-the-art cinema halls. Thoughtfully designed to celebrate the region's cultural identity, The Point offers a seamless fusion of hospitality, entertainment, and shopping in one dynamic location. The delegation then visited Khayal Walk Boulevard, an entertainment and retail complex distinguished by its innovative design, which blends urban architecture with the mountainous terrain of Aseer. The project includes terraced levels that house upscale boutiques, restaurants, and cafés, delivering a refined visitor experience anchored in local heritage. Next on the itinerary was the InterContinental Hotel, one of the region's flagship luxury hospitality developments. Strategically located to offer stunning natural views, the hotel comprises over 200 rooms and operated by global hospitality leader IHG Hotels & Resorts. It also features an array of amenities, including fine dining venues, event spaces, and a children's club, serving a broad spectrum of traveler needs. The final stop was Le Premier, Aseer's first mixed-use destination that fuses modern aesthetics with a strong national character. The development includes six locally inspired restaurant and café buildings and the four-star Hajlah Hotel, which will offer approximately 150 rooms and a state-of-the-art conference hall, establishing the destination as a year-round draw for both leisure and business tourism in Abha. The combined value of tourism projects enabled by TDF in the Aseer region has now reached approximately SAR 2 billion, reflecting the Fund's ongoing commitment to developing distinctive tourism destinations that contribute to the realization of Saudi Vision 2030. Qusai Al-Fakhri, CEO of TDF, commented: 'Our participation in the 2nd Aseer Investment Forum aligns with the Fund's broader strategy to enable promising destinations across Saudi Arabia. By catalyzing tourism investments and providing tailored financial and advisory solutions, we support transformative projects to grow and thrive. Aseer's exceptional natural and cultural assets make it a prime destination for tourism development, and we are proud to foster partnerships that drive sustainable growth in line with the National Tourism Strategy and Saudi Vision 2030.' During the forum, TDF held a workshop titled: 'Tourism Financing: Sustainable Solutions for Investors in the Aseer Region,' which explored TDF's portfolio of financial offerings. The session provided insights into eligibility criteria, access mechanisms, and investor-focused financing solutions tailored to the local market. TDF also featured a dedicated interactive booth, where it showcased its suite of financing products and non-financial programs, offering direct consultations to entrepreneurs and investors interested in entering the tourism sector in the Aseer region. Through initiatives like these, TDF continues to play a pivotal role in shaping sustainable tourism destinations that enrich the visitor experience and position the Kingdom as a leading global tourism hub, fully aligned with the aspirations of Saudi Vision 2030. About the Tourism Development Fund (TDF) The Tourism Development Fund (TDF) is Saudi Arabia's national enabler of the tourism sector, going beyond financing to drive high-impact investments and enhance the competitiveness of the Saudi's tourism destinations. TDF enables entrepreneurs and tourism businesses with tailored financial solutions and non-financial support programs while attracting local and international investors to develop landmark tourism projects. With a vision to create a dynamic and attractive investment environment, TDF fosters strategic partnerships, supports economic diversification, enriches visitor experiences, and strengthens Saudi Arabia's position as a leading global tourism destination. Committed to advancing the goals of Saudi Vision 2030 and the National Tourism Strategy, TDF remains a trusted partner, working closely with investors and key stakeholders across the sector. For media inquiries, please contact TDF Corporate Communication team: cc@
Arabian Business
28-05-2025
- Business
- Arabian Business
Saudi real estate: ARDARA to launch lifestyle community in Al Wadi with luxury hotels and homes
The Saudi real estate and hospitality sectors will be further enhanced by the launch of a new luxury community in Al Wadi, Aseer. Aseer Region Governor and ARDARA Chairman Prince Turki bin Talal bin Abdulaziz officially announced the launch of the first modern lifestyle community at Al Wadi. The announcement unveiled further details about this distinctive destination developed by ARDARA, a company wholly owned by the Public Investment Fund (PIF), during the second Aseer Investment Forum, held at King Khalid University in Abha. ARDARA Saudi real estate development The new community represents a key milestone in ARDARA's mission to develop integrated residential and tourism destinations that enhance Aseer Region's prominence on the national development landscape. The project underscores ARDARA's dedication to sustainable urban development and delivering a superior quality of life. The current project phase includes a range of diverse facilities, including: A five-star hotel with approximately 180 rooms A four-star hotel with around 245 rooms 40 luxury branded apartments 42 luxury branded villas 62 exceptional apartments Premium retail space spanning 4,500sq m Public amenities including walking and cycling paths Environmentally friendly mobility solutions. In line with its commitment to world-class hospitality, ARDARA signed a letter of intent with Hilton to operate a Waldorf Astoria hotel within the destination. Additionally, ARDARA signed a memorandum of understanding (MoU) with Sumou Holding to develop mixed-use urban communities combining residential, hospitality, and entertainment components in upcoming phases of AlWadi, in line with the National Tourism Strategy and grounded in principles of sustainability and smart development. With a potential value of SR1bn ($267m), the partnership aspires to achieve the highest standards of quality of life, meeting the needs of both residents and visitors. In a strategic collaboration, ARDARA and SEDCO Capital signed an MoU to manage an investment fund worth SR1bn ($267m) aimed at developing an urban project in Abha. In addition, ARDARA signed an MoU with Southern Province Cement Company to promote sustainable practices in urban development in Saudi Arabia. The agreement includes the supply of eco-friendly 'green cement,' collaboration on greening initiatives and community activities, and the exchange of technical expertise, contributing to a lasting environmental and social impact that enhances the quality of construction and development across the region. Managing Director of ARDARA Naif bin Saleh Al-Hamdan said: 'The launch of our first lifestyle community in Al Wadi presents a one-of-a-kind investment opportunity in Aseer, offering exclusive waterfront properties and a thriving community that embraces Saudi heritage and modern amenities. 'Additionally, the significant strategic partnerships we signed today bring together innovation, sustainability, and investment value, aligning with the Public Investment Fund's programs and the objectives of Saudi Vision 2030.'
Asharq Al-Awsat
28-05-2025
- Business
- Asharq Al-Awsat
ARDARA Unveils Details of First Lifestyle Community at AlWadi in Saudi Arabia
Aseer Region Governor and ARDARA Chairman Prince Turki bin Talal bin Abdulaziz officially announced on Tuesday the launch of the first modern lifestyle community at AlWadi. The announcement was made at the second Aseer Investment Forum in Abha. The new community is a key milestone in ARDARA's mission to develop integrated residential and tourism destinations that boosts the Aseer Region's prominence on the national development landscape. The project underscores the dedication of ARDARA, which is wholly owned by the Public Investment Fund (PIF), to sustainable urban development and delivering a superior quality of life. The current project phase includes a range of diverse facilities, including, a five-star hotel with approximately 180 rooms, a four-star hotel with around 245 rooms, 40 luxury branded apartments, 42 luxury branded villas, 62 exceptional apartments, premium retail space spanning 4,500 square meters, and public amenities including walking and cycling paths, and environmentally friendly mobility solutions. In line with its commitment to world-class hospitality, ARDARA signed a letter of intent with Hilton to operate a Waldorf Astoria hotel within the destination. Additionally, ARDARA signed a memorandum of understanding (MoU) with Sumou Holding to develop mixed-use urban communities combining residential, hospitality, and entertainment components in upcoming phases of AlWadi, in line with the National Tourism Strategy and grounded in principles of sustainability and smart development. With a potential value of SAR1 billion, the partnership aspires to achieve the highest standards of quality of life, meeting the needs of both residents and visitors. In a strategic collaboration, ARDARA and SEDCO Capital signed an MoU to manage an investment fund worth SAR1 billion aimed at developing an urban project in Abha. The project will integrate residential, hospitality, and entertainment uses, as part of both parties' efforts to support economic and tourism development in the Aseer Region. In addition, ARDARA signed an MoU with Southern Province Cement Company to promote sustainable practices in urban development. The agreement includes the supply of eco-friendly 'green cement,' collaboration on greening initiatives and community activities, and the exchange of technical expertise, contributing to a lasting environmental and social impact that enhances the quality of construction and development across the region. 'The launch of our first lifestyle community in AlWadi presents a one-of-a-kind investment opportunity in Aseer, offering exclusive waterfront properties and a thriving community that embraces Saudi heritage and modern amenities,' said Managing Director of ARDARA Naif bin Saleh Al-Hamdan. 'Additionally, the significant strategic partnerships we signed today bring together innovation, sustainability, and investment value, aligning with the Public Investment Fund's programs and the objectives of Saudi Vision 2030,' he stressed.
Arab News
27-05-2025
- Business
- Arab News
Saudi Arabia's Asir region secures $1.06bn boost as total investments climb past $6.6bn
RIYADH: Saudi Arabia's Asir region is set to receive a fresh investment boost of SR4 billion ($1.06 billion), raising the total value of government-backed projects in the area to more than SR25 billion, according to a senior official. Speaking at the second Asir Investment Forum in Abha, Prince Turki bin Talal, governor of Asir, announced that over SR5 billion in investments are already underway. The newly pledged SR4 billion will be formally revealed during the two-day forum. This investment surge is part of the Asir Region Development Strategy — the Kingdom's first development plan tailored to a specific region — launched in 2021 by Crown Prince Mohammed bin Salman. The strategy aims to transform Asir into a world-class tourism destination, with a goal of attracting more than 10 million visitors annually by 2030, while driving sustainable development through tourism and strategic investment. In his opening remarks, the governor said: 'With more than SR25 billion committed to essential government projects and investments that have already begun implementation on the ground — through projects by the Public Investment Fund, the Tourism Development Fund, the Social Development Bank, and other financing entities — in line with the state's belief that Asir is an economic powerhouse and a fundamental enabler for the private sector.' He added: 'Since the launch of the Asir strategy, committed investments exceeding SR5 billion have already begun implementation, in addition to SR4 billion whose details will be announced during this forum.' Sultan Al-Shahri, chief of investment at the Aseer Development Authority, underscored the scale of ongoing activity, noting that the region is progressing with 79 investment projects worth more than SR29 billion. Of these, 49 projects valued at SR25.6 billion are in the attraction phase, while 30 confirmed initiatives account for SR3.8 billion. He said private sector agreements signed during the first edition of the forum amounted to SR1.7 billion, with presented opportunities totaling SR3 billion, signaling growing domestic and international investor interest aligned with Vision 2030's objectives. Held under the theme 'Asir Thrives… Invest Now,' the second edition of the forum opened on May 27 at King Khalid University in Al-Fara'a, Abha. Organized by the Aseer Development Authority, the event drew over 1,500 participants, including ministers, business leaders, and regional experts. A key development announced at the forum was the launch of 'Qimam Al-Sarrah,' a new investment arm intended to streamline land development and simplify regulatory processes to facilitate investor access. Ministerial participation included Saudi Tourism Minister Ahmed Al-Khateeb, Qatari Minister of Municipal Affairs Abdullah Al-Atiyah, and Saudi Communications and Information Technology Minister Abdullah Al-Swaha. During a plenary session, the ministers emphasized the strategic role of digital infrastructure, smart services, and mega-events — including Abha's bid to host the 2034 FIFA World Cup — in driving economic momentum. Saudi Commerce Minister Majid Al-Qasabi, addressing the forum virtually, affirmed the region's transformation. He stated that Asir is undergoing a qualitative transformation across various levels, positioning it as one of the most promising areas on Saudi Arabia's investment map — thanks to its human, natural, and economic resources. Al-Qasabi noted that the Ministry of Commerce is currently reviewing over 110 commercial regulations to enhance the business environment. These include reforms to the Companies Law, Franchise Law, Anti-Concealment Law, and E-Commerce Law, as well as expanding the role of the National Competitiveness Center. Al-Qasabi added: 'We succeeded in launching an extensive corrective campaign, allowing business owners to voluntarily adjust their status. This contributed to a significant drop in concealment cases and a notable increase in compliance.' As of April 2025, the Kingdom has more than 1.7 million commercial registrations, including 90,000 in Asir — representing 5.3 percent of the national total. According to Al-Qasabi, between 2018 and 2025, joint-stock companies in Saudi Arabia grew by 76 percent, from 2,300 to 4,000. Limited liability companies surged by 138 percent to 386,000, while sole proprietorships rose 32 percent to reach 1.2 million. Al-Qasabi also revealed that Saudi Arabia aims to finalize 20 free trade agreements by 2030. Capital Market Authority Chairman Mohammed El-Kuwaiz addressed efforts to mobilize regional investment through financial markets, including accessible financing mechanisms and regulatory support. Tourism, a key pillar of the Asir strategy, featured prominently throughout the forum. The Saudi tourism minister emphasized the region's competitive edge. 'The region's rich natural and cultural assets are key drivers of tourism investment, which is essential for sustainable development and community empowerment,' Al-Khateeb said. Figures released on the Ministry of Tourism's X account during the event showed tourism momentum accelerating. Domestic tourism rose 11 percent year-on-year in the first quarter of 2025 to 1.4 million Saudi visitors. International tourism surged 42 percent to 68,900 visitors. Tourism-related employment also climbed, with 47,700 jobs recorded — a 2.5 percent increase since late 2024. The Saudization rate stood at 16.2 percent, with gender participation balanced. In Ministry-supervised sectors, 2,600 jobs were recorded, with a 29 percent Saudization rate and near-equal gender representation. The concurrent exhibition showcased key regional projects and institutional stakeholders, highlighting growing public-private collaboration in the Asir region. The forum concluded with a reaffirmation of Asir's role as a cornerstone of Saudi Arabia's diversification strategy — one that aims to balance economic opportunity with cultural preservation and long-term sustainability.
Zawya
27-05-2025
- 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.
