30 August ‎ 2022 | TDF in the News

TDF Signs MoU with Jahez Company to Provide Credit Facilities to Jahez’s Clients to Enhance Restaurants and Cafés Sector’s Activities in Tourist Destinations

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.

Through the MoU, the TDF will provide its financing solutions and provide the opportunity to obtain financing and investment facilities for Jahez clients of micro and small enterprises, which amount to more than 45,000 facilities operating in the restaurants and cafés sector, with the aim of expanding its activities in the targeted tourist areas and destinations, and to ensure its sustainability and business continuity in those areas, in accordance with the National Tourism Strategy.

The MoU was signed in the presence of the TDF's CEO, Qusay bin Abdullah Al-Fakhri, and the CEO of Jahez, Eng. Ghasab Al-Mandeel. This signing comes within the framework of the TDF's keenness to develop tourism projects in the Kingdom, and to support and encourage the private sector, especially micro and small enterprises, which constitute more than 90% of the tourism sector, with the aim of achieving the objectives of the National Tourism Strategy, and developing tourist destinations that enjoy competitive advantages, in accordance with the national goals of tourism and the Kingdom’s Vision 2030.

On this occasion, Al-Fakhri, said: "The signing of the MoU with Jahez reflects the keenness of the TDF to support, empower and encourage the private sector, especially micro and small enterprises, by facilitating procedures, providing financing solutions and providing the necessary support to ensure business sustainability, in order to achieve the National Tourism Strategy and the Kingdom's Vision 2030."

For his part, Eng. Ghasab Al-Mandeel, said: "By signing the MoU with the TDF, we hope to provide everything possible to enhance the role of the restaurants and cafés in tourism sector in the Kingdom, support investors and enable them to expand their activities in tourist destinations, and encourage them to continue and progress".

Other News

Card image cap
12 December ‎ 2022 | TDF in the News
Saudi Tourism Development Fund’s Launches AWN Tourism and Hospitality Program to Unlock Growth in Small and Micro Tourism Businesses

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.

Card image cap
24 November ‎ 2022 | TDF in the News
Tourism Development Fund partners with Hilton to develop iconic leisure tourism destinations in the Kingdom

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.

Card image cap
24 November ‎ 2022 | TDF in the News
Lifestyle Hospitality Fund - established by anchor investor TDF along with Ennismore and Al Rajhi Capital - has identified touristic sites to develop exiting projects across the kingdom

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.