Latest news with #TourismDevelopmentFund
Argaam
6 days ago
- Business
- Argaam
Aseer Governor says investments top SAR 5B since strategy launch
Aseer Governor Prince Turki bin Talal Al Saud said that investments exceeded SAR 5 billion since the approval of the Aseer strategy. Speaking at the opening of the Aseer Investment Forum, the governor said that additional investments worth SAR 4 billion will soon be announced during the event. The total value of key government projects and committed investments under the region's strategy exceeds SAR 25 billion, he said. These projects and investments are being implemented by the Public Investment Fund (PIF), Tourism Development Fund (TDF), Social Development Bank (SDB), and other financial institutions.
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. (
Ammon
30-04-2025
- Business
- Ammon
Jordan's tourism sector rebounds, JD1.2B in Q1 revenues
Ammon News - Jordan's tourism sector has posted strong first-quarter results in 2025, drawing 1.508 million international visitors and generating JD 1.217 billion in tourism revenues during January and February alone, according to the Q1 2025 Executive Program Report for the Economic Modernization Vision (2023–2025).Under the strategic pillar "Jordan as a Global Destination", the report outlines robust progress in air connectivity, product development, regulatory modernization, and investment facilitation positioning tourism as a high-impact growth Connectivity and Market AccessTo strengthen inbound traffic from key source markets, Jordan has expanded its low-cost airline network to 25 direct routes in 2025. For the summer season, 20 direct routes will operate to Amman. In winter, five routes will serve Aqaba and six will serve Amman. These developments are projected to bring in approximately 270,000 travelers throughout the and Regulatory AdvancementsThe government has introduced a series of updated regulations to enhance the tourism business environment, including new instructions for electronic ticketing at museums and archaeological sites, and amendments to the unified ticketing legislation has been submitted for approval covering hotel licensing, tourism offices, restaurant operations, and sectoral associations. A proposed framework for the Tourism Development Fund has also been consolidate strategic oversight, the National Tourism Council has been established, tasked with shaping policies, drafting legislation, and guiding sector Product Development and ExperiencesJordan has phased out paper tickets at heritage sites and museums, replacing them with digital solutions to streamline access and data tourism continues to gain traction, with the completion of the first phase of the Heritage Village Trail in Tafileh, and progress on linking the Ainoun trail in Karak to the Lowest Point on Earth Museum in the southern Jordan adventure routes in the Shoubak region are also under religious tourism, updates to the Christian pilgrimage route from Mount Nebo to Ain Salem are underway, with requalification efforts coordinated across Projects and InfrastructureThe report notes several key investment milestones: land acquisition has been approved near the Battle of Mu'tah memorial site in Al-Mazar Al-Janoubi; final designs have been adopted for the Yarmouk Forest Reserve ecolodge, with interior and exterior works nearly one of the South Beach development project has been finalized, with phase two in progress. Structural foundations for the Aviation Heritage Museum are complete, with 60% of external works finished and electromechanical installations now Development and Community EmpowermentIn alignment with the Tourism Skills Council roadmap and the sector's training strategy, 36 specialized training programs have been designed for 2025. These span both skill-specific and continuous professional development levels. Stakeholder consultations were held to identify priority skills and employment Marketing and PartnershipsTargeted tourism marketing campaigns have been launched in Gulf, European, and Chinese markets, using digital platforms such as Google, eDreams, and Skyscanner. Jordan has also participated in international tourism fairs in India and Russia, and hosted media and influencer delegations from Saudi Arabia, France, Italy, the Vatican, Russia, and Brazil.A major promotional milestone includes a documentary co-produced with one of Asia's largest broadcasters, featuring prominent Korean celebrities and showcasing Jordanian sites such as Petra, Wadi Rum, Amman, Ma'in Hot Springs, and Wadi Kingdom also concluded the "Jordan: Dawn of Christianity" exhibition at the Vatican under Royal Patronage. Following its strong reception, a global tour of the exhibition is being launched to further elevate Jordan's status as a premier destination for faith-based and intercultural
Globe and Mail
27-02-2025
- Business
- Globe and Mail
Singapore Elevator and Escalator Market Report 2024-2030 – Featuring Key Vendors Otis, KONE, TK Elevator, Schindler, Mitsubishi Electric, & Hitachi
"Singapore Elevator and Escalator Market Research Report by Arizton" According to Arizton's latest research report, the Singapore elevator and escalator market is growing at a CAGR of 3.52% during 2024-2030. Report Summary Market Size by New Installations (2030): 1.52 Thousand Units Market Size by New Installations (2024): 1.24 Thousand Units CAGR – New Installations (2024-2030): 3.52% Market Size by Installed Base (2030): 85.51 Thousand Units Market Size by Modernization (2030): $146.07 Million Historic Year: 2021-2023 Base Year: 2024 Forecast Year: 2025-2030 Singapore Elevator & Escalator Market Overview The Singapore elevator and escalator market is poised for steady growth, with new installations expected to reach 1,527 units by 203. Key growth drivers include rapid urbanization, infrastructure development, and the expansion of the real estate sector, with increasing demand for vertical transportation in high-rise buildings. Government initiatives like the Draft Master Plan 2025 and strong foreign direct investment (FDI) also contribute to market expansion. Additionally, the need for modernization and maintenance of aging buildings boosts demand for elevator and escalator services. The tourism sector's growth, supported by programs like the Tourism Development Fund, is further fueling investment in hospitality infrastructure. Technological advancements, including AI integration, also support market growth. However, challenges such as inflation, labor shortages, and land scarcity may impact the market. Despite this, the Building and Construction Authority (BCA) expects substantial construction demand in the coming years, ensuring continued market growth. Recent Developments in the Singapore Elevator and Escalator Market In August 2024, Otis unveiled its Gen3™ connected elevator platform at its 'Platform for Possibility' launch event in Southeast Asia. Furthermore, in 2024, Mitsubishi Electric Building Solutions Corporation announced its new elevator type, NEXIEZ-Fit', which is an elevator that combines superior cost performance with carefully selected specifications. Moreover, in December 2024, KONE announced the launch of its High-Rise MiniSpaceTM DX elevator in the Southeast Asia market. The elevator comes with KONE UltraRope®, which is 80% lighter than traditional steel rope and three times more durable. Growth in Demand for 16-24 Person Elevators Driven by Healthcare Sector Expansion Companies like KONE and Mitsubishi Electric offer elevators with capacities of 16–24 passengers, such as KONE's Highrise MiniSpace elevators, which can carry up to 1,600 kg or 24 people at speeds of 4 m/s. The growing investment in healthcare facilities is driving demand for elevators with these capacities. In 2024, the Singapore government announced plans to advance its healthcare sector, including the redevelopment of Alexandra Hospital into a larger 1,300-bed facility. The project, starting in 2028, will span 10 years and include two additional high-rise buildings. Additionally, two new hospitals, the Eastern General and Community Hospitals, are set to be completed by 2029-2030. These projects are expected to significantly increase the demand for 16-24 person elevators in Singapore. Infrastructure Development Drives Elevator Demand in Singapore's West and North-East Regions The West Region of Singapore, home to heavy industries like petrochemicals, is a key economic hub with major international companies operating on Jurong Island and Pulau Bukom. The Jurong Lake District, which features industrial parks and high-tech industries, is seeing significant construction, increasing the demand for elevators. Notably, the Jurong East Integrated Transport Hub, a major development in the western region's second CBD, includes a 27-storey and an eight-storey block and is expected to be completed by 2027. The North-East region is also undergoing substantial infrastructure development, including the Punggol Digital District (PDD), a 50-hectare business district that will feature residential and commercial spaces. Additionally, the North-South Corridor project, slated for completion between 2027 and 2029, will enhance connectivity between the northern regions and the city, supporting increased demand for vertical transportation solutions across Singapore. Key Vendors Otis KONE TK Elevator Schindler Mitsubishi Electric Hitachi Hyundai Elevator Fujitec Toshiba Elevator and Building Systems Corporation Sigma Elevator Stannah Lifts Holdings Ltd CA M&E Elevator Gylet IFE ELEVATORS CO., LTD. Elevator Market Segmentation by Machine Type Hydraulic and Pneumatic Machine Room Traction Machine Room Less Traction Others Climbing Elevators Industrial Elevators Carriage Type Passenger Freight Capacity 2-15 Persons 16-24 Persons 25-33 Persons 34 Persons and Above End-User Commercial Residential Industrial Others Public Transit Institutional Infrastructural Escalator Market Segmentation by Product Type Parallel Multi Parallel Walkway Crisscross End-User Public Transit Commercial Others Institutional Sector Infrastructure Industrial Key Questions Answered in the Report: How big is the Singapore elevator and escalator market? What will be the growth rate of the Singapore elevator and escalator market? What are the key opportunities in the Singapore elevator and escalator market? What is the number of installed bases in the Singapore elevator and escalator market in 2024? What are the key Singapore elevator and escalator market players? Check Out Some of the Top Selling Reports of Your Interest: Indonesia Elevator And Escalator - Market Size & Growth Forecast 2025-2030 Malaysia Elevator And Escalator Market - Size & Growth Forecast 2025-2030 Why Arizton? 100% Customer Satisfaction 24x7 availability – we are always there when you need us 200+ Fortune 500 Companies trust Arizton's report 80% of our reports are exclusive and first in the industry 100% more data and analysis 1500+ reports published till date Post-Purchase Benefit 1hr of free analyst discussion 10% off on customization About Us: Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services. 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