Saudi leaders highlight property development, tourism expansion at real estate forum
Date
1/27/2025 8:38:47 AM
(MENAFN) Industry leaders, policymakers, and investors gathered at the Real Estate Future Forum in Riyadh, where key announcements underscored Saudi Arabia's ongoing focus on property development, investment strategies, and tourism expansion. The forum provided a platform for leaders to share insights into the Kingdom's growing real estate and hospitality sectors, with significant plans for regional development.
Prince Turki Bin Talal, Governor of Asir Region, revealed that the Public Investment Fund (PIF) is currently overseeing nine major projects, four of which have already been launched, and five are in progress. He emphasized that the Asir region is home to some of the largest PIF projects in the Kingdom, backed by an investment portfolio valued at SR30 billion ($7.9 billion). This reflects the Kingdom's continued push to develop key regions and diversify its economy.
Regarding the hospitality sector, Prince Turki also mentioned that Asir currently boasts between 6,000 and 8,000 approved and licensed hotel rooms, a clear indicator of the region's expanding tourism infrastructure. Furthermore, he shared that Abha's World Cup bid has been officially recognized by the Ministry of Sports as the best in the Kingdom, further solidifying the region's prominence in national tourism efforts.
In addition, Prince Saud Bin Talal, Governor of Al-Ahsa and acting CEO of the Al-Ahsa Development Authority, outlined plans to expand the hospitality sector in his region, demonstrating a broader commitment to strengthening Saudi Arabia’s tourism and real estate industries.
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