PIF unit in deal to develop top-class Saudi tourism destination
RIYADH, November 15, 2024
Aseer Investment Company, a subsidiary of Saudi sovereign wealth fund PIF, has announced the establishment of a new holding company in partnership with Rikaz, a key real estate developer in the kingdom.
This company will develop unique tourism projects in the Aseer region, aiming to transform it into a world-class tourist destination that blends authentic heritage with sustainable development, said PIF in its statement.
The goal is to enhance the visitor experience by offering unique opportunities to connect with local culture, it stated.
The new company will help promote sustainable tourism by protecting the environment, developing local communities, and collaborating with local artisans and businesses to preserve Aseer’s heritage and the beauty of its natural landscape, it added.-TradeArabia News Service
