Saudi Arabia’s Tourism Development Fund (TDF) unveils US$773M in projects, accelerating Vision 2030 tourism growth

SAUDI ARABIA – Saudi Arabia’s Tourism Development Fund (TDF) has announced SAR 2.9 billion (US$773 million) worth of new tourism projects and strategic partnerships at the TOURISE 2025 Forum, marking a significant push to diversify the Kingdom’s tourism landscape in line with Vision 2030 goals.

In the Asir region, TDF is supporting five integrated tourism developments featuring a total of 1,211 hotel keys.

These include the Jareed Asir Project, a 116-key five-star hotel with 2,400 sqm of retail space in partnership with NMR Real Estate Development.

It also includes the Aldhabab Land, a mixed-use destination with a 150-key hotel overlooking the Sarawat mountains via Al Kathiri Holding.

It also includes the Al-Hadhba Project, an Anantara-branded luxury wellness resort with 75 keys, a 50-unit glamping site, 40 rental plots, and an adventure centre in partnership with Shaden Hospitality Company.

The 460-key Westin Resort, located on a 143,000 sqm site with entertainment and commercial facilities, is developed by Manarat Aldiyafa Real Estate.

Meanwhile, The House Residences, near King Khalid University in Abha, is a collaboration between Aseer Investment, Rikaz Real Estate, and SYAHYA.

Future expansion plans include projects in Haifa and Jabal Abdullah under the Mantis Hotels brand.

The fund also announced a financing deal worth SAR 700 million (US$187 million) with Modern Choice Development to bring Earth Hotels to Riyadh, featuring 86 rooms on 11,762 sqm.

Additionally, TDF is investing SAR 570 million (US$152 million) in the Basiqat by Mantis resort in Al-Uyaynah, the world’s largest Mantis resort with 218 rooms, villas, and luxury tents.

A strategic MoU with Al Balad Development Company, owned by the Public Investment Fund, aims to boost private projects in historic Jeddah, where BDC’s US$3.6 billion hospitality investment portfolio plans 3,300+ hotel units.

Key partnerships include Aina Hospitality to introduce Relais & Châteaux brands, Meliá Hotels International to develop 1,000 rooms including the ZEL brand, and Italy’s Arsenale Group to develop the region’s first luxury hotel train project, ‘Dream of the Desert.’

The Saryna Project, developed with Amaken Tourism, will offer 255 mobile glamping units across northern and southern tourism routes, integrating nature with luxury hospitality.

These initiatives anchor Saudi Arabia’s Vision 2030 target of welcoming 150 million annual visitors and contributing 10% to the Kingdom’s GDP through tourism by 2030.

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