Latest news with #QusaiAlFakhri
Trade Arabia
6 days ago
- Business
- Trade Arabia
Saudi Eastern Province a ‘promising tourism destination'
Saudi Arabia's Eastern Province is one of the most promising destinations on the national tourism map, and enabling high-impact tourism projects in the region will help deliver world-class experiences, a senior official has said. This will also enhance Saudi Arabia's global appeal and contribute to the sector's growth in line with Saudi Vision 2030, said a CEO of the Tourism Development Fund (TDF), Qusai Al-Fakhri, who this week visited several flagship tourism projects in Al Khobar as part of the fund's ongoing efforts to monitor project progress and assess readiness in alignment with the objectives of the National Tourism Strategy. To date, TDF has supported more than 534 tourism projects directly and indirectly through its Tourism Empowerment Program, in partnership with the financial sector. The total value of TDF-enabled projects in Eastern Province has reached approximately SAR10 billion ($2.67 billion), underscoring the fund's commitment to empowering unique destinations that contribute to the goals of Saudi Vision 2030. One of the key destinations being developed by TDF in the region is The Avenues – Khobar, one of the largest mixed-use projects in the Eastern Province. Spanning nearly 200,000 sq m and featuring over 400 hotel rooms, the project marks a significant milestone in integrating luxury hospitality with retail and commercial centres, supporting economic diversification and encouraging investment in the tourism and retail sectors. The visit also included Ajdan Fairmont, which is part of a mixed-use project in Khobar that features a five-star hotel with more than 160 all sea-view rooms managed by the global Fairmont brand, alongside upscale restaurants, cafés, and modern commercial spaces. The project reflects direct investment in improving quality of life, promoting urban sustainability, and stimulating the local economy. Ajdan Bayfront is a comprehensive seafront development covering over 100,000 sq m. It offers a fully integrated experience including retail, dining, and entertainment venues, in addition to a range of hospitality units. The project is expected to boost commercial activity and enhance modern urban lifestyles, aligning with the aspirations of residents and visitors in Al-Khobar. Nobu Hotel & Residences marks the debut of the global Nobu brand in the Eastern Province. The project features more than 160 luxury hospitality units, the renowned Nobu restaurant, and a branded café, delivering a high-end hospitality experience that enriches the luxury tourism scene in the Kingdom. The project represents a major step in elevating contemporary hospitality standards, supported directly by TDF.
Zawya
6 days ago
- Business
- Zawya
Saudi Eastern Province a ‘promising tourism destination'
Saudi Arabia's Eastern Province is one of the most promising destinations on the national tourism map, and enabling high-impact tourism projects in the region will help deliver world-class experiences, a senior official has said. This will also enhance Saudi Arabia's global appeal and contribute to the sector's growth in line with Saudi Vision 2030, said a CEO of the Tourism Development Fund (TDF), Qusai Al-Fakhri, who this week visited several flagship tourism projects in Al Khobar as part of the fund's ongoing efforts to monitor project progress and assess readiness in alignment with the objectives of the National Tourism Strategy. To date, TDF has supported more than 534 tourism projects directly and indirectly through its Tourism Empowerment Program, in partnership with the financial sector. The total value of TDF-enabled projects in Eastern Province has reached approximately SAR10 billion ($2.67 billion), underscoring the fund's commitment to empowering unique destinations that contribute to the goals of Saudi Vision 2030. One of the key destinations being developed by TDF in the region is The Avenues – Khobar, one of the largest mixed-use projects in the Eastern Province. Spanning nearly 200,000 sq m and featuring over 400 hotel rooms, the project marks a significant milestone in integrating luxury hospitality with retail and commercial centres, supporting economic diversification and encouraging investment in the tourism and retail sectors. The visit also included Ajdan Fairmont, which is part of a mixed-use project in Khobar that features a five-star hotel with more than 160 all sea-view rooms managed by the global Fairmont brand, alongside upscale restaurants, cafés, and modern commercial spaces. The project reflects direct investment in improving quality of life, promoting urban sustainability, and stimulating the local economy. Ajdan Bayfront is a comprehensive seafront development covering over 100,000 sq m. It offers a fully integrated experience including retail, dining, and entertainment venues, in addition to a range of hospitality units. The project is expected to boost commercial activity and enhance modern urban lifestyles, aligning with the aspirations of residents and visitors in Al-Khobar. Nobu Hotel & Residences marks the debut of the global Nobu brand in the Eastern Province. The project features more than 160 luxury hospitality units, the renowned Nobu restaurant, and a branded café, delivering a high-end hospitality experience that enriches the luxury tourism scene in the Kingdom. The project represents a major step in elevating contemporary hospitality standards, supported directly by TDF. 'At TDF, we are committed to supporting projects that drive meaningful impact in the tourism sector and reflect the Kingdom's aspirations for a sustainable and diversified tourism future. By enabling these projects in the Eastern Province, we continue to build unique destinations that enrich the visitor experience and help drive local economic growth,' said Al-Fakhri. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arab News
10-05-2025
- Business
- Arab News
TDF to promote Saudi investment at Future Hospitality Summit
The Tourism Development Fund, the Kingdom's tourism enabler, has announced it will serve as an enablement partner in the Future Hospitality Summit Saudi Arabia. The event is scheduled to take place in Riyadh from May 11 to 13, and will bring together global decision-makers and investors to explore opportunities in hospitality, promote knowledge exchange, and support startups and entrepreneurs in the sector. TDF CEO Qusai Al-Fakhri said that the fund's role extends beyond financial support and fosters connections between investment opportunities and local talent. 'Our participation in the summit aims to accelerate this communication and broaden its impact across the Kingdom through hospitality projects and other initiatives that elevate the tourist experience and support sustainable economic growth,' Al-Fakhri said. At its pavilion during the summit, TDF will present direct and indirect financing solutions. It will also feature non-financial initiatives from TDF Grow, which supports startups and small and medium-sized enterprises, develops national talent, and accelerates the growth of specialized projects throughout Saudi Arabia. The fund is also set to join a key panel discussion addressing tourism market shifts, exploring new investment prospects, and outlining TDF's vision to build investor confidence while maintaining quality and returns. TDF's participation underscores its commitment to advancing the tourism sector by positioning Saudi Arabia as a leading investment destination and global hospitality hub, while highlighting the fund's role as the Kingdom's primary tourism enabler. The summit is expected to attract more than 100 speakers, 280 investors, and 90 sponsors and partners from around the world.
Zawya
08-05-2025
- Business
- Zawya
Tourism Development Fund to join Future Hospitality Summit as enablement partner
Riyadh: The Tourism Development Fund (TDF), the Kingdom's tourism enabler, has announced it will serve as an enablement partner in the Future Hospitality Summit (FHS) Saudi Arabia. The event is scheduled to take place in Riyadh from May 11 to 13, 2025, and will bring together global decision-makers and investors to explore opportunities in hospitality, promote knowledge exchange, and support startups and entrepreneurs in the sector. TDF CEO Qusai Al-Fakhri stated that the fund's role extends beyond financial support to fostering connections between investment opportunities and local talent. " Our participation in the summit aims to accelerate this communication and broaden its impact across the Kingdom through hospitality projects and other initiatives that elevate the tourist experience and support sustainable economic growth," Al-Fakhri said. At its pavilion during the summit, TDF will present direct and indirect financing solutions. It will also feature non-financial initiatives from TDF Grow, which supports startups and small and medium-sized enterprises (SMEs), develops national talent, and accelerates the growth of specialized projects throughout Saudi Arabia. The fund is also set to join a key panel discussion addressing tourism market shifts, exploring new investment prospects, and outlining TDF's vision to build investor confidence while maintaining quality and returns. TDF's participation underscores its commitment to advancing the tourism sector by positioning Saudi Arabia as a leading investment destination and global hospitality hub, while highlighting the fund's role as the Kingdom's primary tourism enabler. The summit is expected to attract more than 100 speakers, 280 investors, and 90 sponsors and partners from around the world. 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.
