Check out how TDF is enabling private sector investments in tourism through the latest news, events, updates, and more.
The Tourism Development Fund (TDF) signed today a cooperation agreement with the Project Management Institute in Saudi Arabia to develop educational programs and training courses for the Fund’s employees, clients, and contracting investors. The agreement aims to help upskill talents and nurture capabilities in the management of tourism projects, in line with the Saudi Vision 2030 objectives.
The agreement was signed at the headquarters of the Tourism Development Fund in Riyadh, in the presence of TDF's CEO Qusai Abdullah Al-Fakhri and the president of Project Management Institute, Kingdom of Saudi Arabia Badr Burshaid. The agreement outlines several shared missions, in which both parties will work together to define an action plan and a cooperation mechanism to share knowledge and expertise related to the best practices, tools and regulations of project management. Both parties will also cooperate in organizing workshops and training courses to develop and improve performance, as well as achieve tangible results on the ground.
Commenting on the agreement, Qusai Abdullah Al-Fakhri, TDF's CEO said: "The Fund is committed through this agreement to supporting and empowering its employees, clients and contracting investors, as well as developing capabilities to manage tourism projects according to the best international practices. This in turn allows human talents to offer disruptive solutions to challenges, turning them into opportunities and achievements. The agreement is vital to fulfilling the Fund’s objectives to develop and prepare human resources for the promising future of the tourism industry in Saudi Arabia, enhancing its competitiveness in line with the tourism sector’s growth goals."
Badr Burshaid, the president of Project Management Institute, Kingdom of Saudi Arabia, said: "The agreement with the Tourism Development Fund is part of a series of agreements with several sectors and organizations, confirming the Institute’s commitment to providing training courses that are aligned with our vision to be the leading institution in the field of project management in the Kingdom. Our aim is to promote and enrich leadership skills: we are committed to equipping individuals with the necessary capabilities to offer value to stakeholders through the successful execution of projects. The training and development process is based on our innovative project management methodology. The Institute highly values the excellent performance of its trainees and is committed to providing a professional community of project managers, as part of the Kingdom’s development and implementation of Saudi Vision 2030."
The agreement reflects both parties’ commitment to aligning their efforts and bolstering cooperation to enhance the efficiency of the Fund’s employees and clients, and to share knowledge in the field of project management. It also helps create an integrated ecosystem that will develop professional project management policies and procedures, enhancing the efficient and speedy execution of projects, to the benefit of both parties.
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.
Saudi Arabia’s Tourism Development Fund (TDF) announced today the signing of a financing agreement with Shada Real Estate Development and Investment Company.
The Tourism Development Fund (TDF) announced today the signing of a financing agreement with Golden Frond Hotel Services Company, a subsidiary company of the Afyaa Group to develop the ENVI Al Nakheel ecolodge in Al-Ahsa Oasis. The agreement demonstrates the commitment of both parties to advance sustainable tourism development, in line with the objectives of KSA’s National Tourism Strategy and the Kingdom's Vision 2030. The announcement of this agreement coincided with the FHS Future Hospitality Summit held in Riyadh from May 7 to May 9, 2023.
The Tourism Development Fund (TDF) has launched the AWN Tourism and Hospitality program to support small and micro tourism businesses in the Kingdom of Saudi Arabia with the resources they need to realize their objectives and aspirations within the tourism industry.
The Tourism Development Fund (TDF) and Hilton have signed a Memorandum of Understanding (MoU) to support the establishment of a strategic partnership with the objective of launching several leisure entertainment tourism destinations across the KSA.
The Tourism Development Fund (TDF) which entered into a tripartite partnership with Ennismore, the fastest-growing lifestyle hospitality company in the world, and Al Rajhi Capital, one of the leading Asset Managers in Saudi Arabia, has identified multiple sites to develop exciting lifestyle developments across the Kingdom, including urban beachfront sites.
The Tourism Development Fund (TDF) signed a financing agreement with Dana Bay Tourism Company, to participate in financing a closed real estate fund worth SAR 644 million. The agreement aims to develop a mixed-use beach resort project that enjoys a unique location on the Eastern Province containing luxurious villas managed by IHG, represented by the InterContinental brand.
The Future Investment Initiative (FII) Institute and the Saudi Tourism Development Fund have signed a strategic partnership agreement on the sidelines of PRIORITY, FII Institute’s latest event in New York. Under the agreement, both parties will work together in advancing projects and initiatives in line with the FII Institute’s core focus areas.
The Tourism Development Fund (TDF) signed a Memorandum of Understanding (MoU) with the Saudi Endeavor Network, the local representative of Endeavor International, with the aim of enhancing opportunities for cooperation between the two parties in supporting and empowering local and international entrepreneurs in the tourism sector. This will enable them to benefit from support programs, financing and investment solutions, and services provided by both parties.
The Tourism Development Fund (TDF) signed here today a memorandum of understanding (MoU) with Jahez company, which is specialized in providing delivery services for restaurants and cafés.
The Tourism Development Fund (TDF) today announced the signing of a tripartite agreement with Ennismore, the world’s largest and fastest-growing lifestyle hospitality company, and Al Rajhi Capital, one of the leading Asset Managers in the Kingdom of Saudi Arabia. The agreement aims to establish a hospitality investment fund that will advance lifestyle hotels with a capital of SAR 1.5 billion, enhancing promising sector-leading opportunities in various tourist destinations within the Kingdom.
The Tourism Development Fund (TDF) today announced the signing of a Memorandum of Understanding (MoU) with Melia Hotels International, one of the world’s leading hotel groups in leisure segment. The MoU was signed at TDF’s headquarters in Riyadh by Qusai Al-Fakhri, CEO of the Tourism Development Fund, and Gabriel Escarrer, CEO and Vice Chairman of Melia Hotels International.
Finance Program, which is designed to provide the best solutions and soft financing products for small and micro enterprises, to enable them to benefit from promising opportunities in various fields of tourism.
His Excellency Ahmed Al-Khateeb, Minister of Tourism and Chairman of the Board of Directors of the Tourism Development Fund (TDF), today praised the Fund’s achievements since its establishment last year, which are contributing significantly to the progress of Saudi Arabia’s National Tourism Strategy (NTS).
The Tourism Development Fund (TDF) and Ennismore today signed a Memorandum of Understanding (MoU) at the 5th Future Investment Initiative (FII) in Riyadh to explore the establishment of a USD 400 million (SAR 1.5 billion) fund that would bring Ennismore’s lifestyle brands to at least 12 destinations in Saudi Arabia.
Saudi Arabia's Tourism Development Fund (TDF) signed two financing agreements with Dallah Al-Baraka Group and Dallah Real Estate Company, to develop a tourism project at the Durrat Al-Arous resort in Jeddah, accordign to an emailed statement.
The Tourism Development Fund (TDF) and Seera Group today signed a financing agreement to establish and operate the Raghadan Tourist Resort, the first sustainable tourism project in the Al Baha region – one of the main investment destinations identified under Saudi Arabia’s National Tourism Strategy.
Saudi Arabia’s Tourism Development Fund will finance a resort in Baha, which is slated to be the biggest project in the history of the region at a cost of SR500 million ($133 million). Spread over an area of 50,000 sq. meters, the project will take five years for completion. implementation period is five years. Baha Gov. Prince Hussam bin Saudi Al-Saud will lay the cornerstone.
Aiming to support the private sector in its entertainment and tourism efforts, the General Entertainment Authority (GEA) and the Tourism Development Fund have signed a memorandum of understanding (MoU) outlining their collaboration across several interrelated areas. The MoU aims to secure funding for targeted projects in the entertainment and tourism sectors to stimulate their growth in line with the goals of Saudi Vision 2030.
The Saudi Tourism Development Fund signed an exclusive investment partnership agreement with Xtreme International to activate quality tourist destinations. The agreement aims to invest in developing and activating quality tourist destinations that include the various sectors targeted by the fund, including accommodation, adventure and entertainment activities, and organizing trips and experiences, directly or indirectly, in cooperation with local and international investors and operators.
Saudi Arabia’s Tourism Development Fund recently signed a financing agreement with Ajdan Real Estate Development Company, for the construction of a five-star hotel as part of the Ajdan Waterfront project in Al Khobar. The project is the first to be supported by the Fund in the Eastern Province.
Saudi Arabia's Tourism Development Fund (TDF) on Monday signed two agreements with the Arab National Bank (ANB) to increase the financing of tourism projects in the Kingdom.
The Tourism Development Fund and Riyad Bank today launched the Tourism Partners program, the first of its kind involving the public and private sectors in accordance with specific performance indicators on both sides in order to enable the development of quality tourism facilities and activities across the Kingdom with a financing value of up to 2 billion riyals to support the financing of tourism projects to be worked on in 2021.
Tourism Development Fund (TDF), in partnership with Riyad Bank, on Wednesday signed a finance agreement for the Knowledge City Forum with the Knowledge Economic City, as part of TDF’s efforts in boosting the development of qualitative tourist destinations in the Kingdom of Saudi Arabia. The project will be established over an area of 68,000 square meters with a total value of 1.303 billion riyals, making it among the biggest qualitative tourist projects in Al-Madina Al-Munawwarah. The multi-purpose project will include a five-star hotel that will be operated by a renowned world trademark, in addition to several tourist and entertainment facilities, shopping malls, restaurants and coffee shops, which will enrich the experience of tourists in the area.
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.
Up to SR160 billion ($42.66 billion) of tourism projects will be financed in Saudi Arabia after a deal between the Kingdom’s Tourism Development Fund and local banks, the Saudi Press Agency reported.
The CEO of the Tourism Development Fund, Qusai AI-Fakhri has revealed that the fund aims to stimulate and facilitate investment in the tourism sector, which is one of the most promising economic sectors in the Kingdom of Saudi Arabia.
Saudi Arabia's Vision2030 is a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors, including tourism. Under Vision2030, the NTP, a coordinating unit involving 24 Saudi government entities, aims to develop the government capacity and capabilities required to establish the necessary legal and physical infrastructure to achieve Vision2030's goals.