The Tourism Development Fund (TDF) signed two memorandums of understanding (MoUs) with Fakieh Group to establish two mega tourism projects in Taif and Jeddah. The signing ceremony was held at the fund's headquarters in Riyadh.
Under the first MoU, a project that will be the first of its kind will be established in Taif on a land plot of more than 165,000 square meters.
The project will comprise a resort and a five-star, 200-bed hotel, a group of restaurant brands, and entertainment zones.
Meanwhile, both parties under the second MoU will develop Al-Nawras Island on Jeddah Corniche to become a beachfront that features entertainment facilities, bay walk for visitors, restaurants, yachts club and a marina.
Expanding its roster of collaborators, the Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with an affiliate of Hyatt Hotels Corporation to establish luxury hotels across the Kingdom of Saudi Arabia.
The Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding (MoU) with the Radisson Hotel Group to develop hospitality and tourism projects across the Kingdom of Saudi Arabia. The first project under this memorandum is expected to be announced in H2 of 2023.
Saudi Arabia’s Tourism Development Fund (TDF) announces the signing of a memorandum of understanding (MoU) with MINOR Hotels, a hotel owner, operator, and investor. The MoU aims to jointly develop and operate high-quality hospitality and lifestyle projects focused on mountain resorts, wellness resorts, and urban hotels within the Kingdom. The first project under this partnership is expected to be announced in the second half of 2023.