New resorts and hotels in AlUla and Riyadh, developed through strategic partnerships, aim to boost eco-tourism and community engagement in line with Vision 2030.
RIYADH – The Saudi Tourism Development Fund (TDF) announced a major investment push into sustainable tourism on the second day of the TOURISE 2025 forum, signing agreements totaling over SR700 million ($186.6 million).
The signings underscore the Fund’s strategic commitment to developing integrated tourist destinations that prioritize environmental sustainability, local community involvement, and strong governance. These projects are designed to enhance the visitor experience and elevate the Kingdom’s competitiveness as a global tourism hub, directly supporting the goals of Saudi Vision 2030.
A flagship project unveiled was the Basqat Mantis in the AlUyaynah area. Developed by a fund managed by GIB Capital in partnership with Design and Build Co., the resort is poised to become the largest in the world under the Mantis brand. It will feature over 218 hotel rooms, villas, and luxury tents, all drawing inspiration from Saudi culture to offer an authentic heritage experience.
In a parallel development, the TDF signed an agreement with Al Ikhtiyar for Real Estate Co. to develop the Earth hotel in Riyadh. The hotel is presented as a contemporary model for sustainable hospitality, blending modern design with local authenticity. The property will include co-working spaces, creative areas, fitness centers, and the Earth Brasserie restaurant, aiming to foster a balanced environment for both visitors and the local community.
Further expanding its strategic reach, the Fund entered into a Memorandum of Understanding (MoU) with Al Balad Development Co. The agreement aims to explore cooperation opportunities to support private sector projects within the historic Jeddah district, contributing to the preservation and leverage of the region’s unique heritage for tourism development.
Through these initiatives, the Tourism Development Fund continues to solidify its role as a key enabler of sustainable tourism investment, developing qualitative destinations that are environmentally responsible, economically viable, and socially beneficial.
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