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.
Saudi Arabia’s Tourism Development Fund 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.
Under the deal, the tourism fund provide funds for the development of “Durrat Lagoon,” which will be operated by Hotel Indigo.
“The financing and support services provided by the Tourism Development Fund contribute significantly to enhancing the experiences of investors and the value of their projects, as well as boosting the Kingdom’s ability to attract tourists from around the world,” Mohiuddin Saleh Kamel, vice chairman of Dallah Al-Baraka Group, said.
The second agreement was signed with 17Sixty to provide a variety of recreational activities enabling visitors of Durrat Al-Arous resort to safely explore the depths of the Red Sea.
“TDF is focused on providing innovative solutions that link investors to the abundant opportunities in the Saudi tourism sector, contributing to achieving the objectives of the National Tourism Strategy and consolidating the Kingdom’s position as a tourist destination that attracts visitors from all over the world,” the fund’s CEO, Qusai Al-Fakhri, said.
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.