TDF to develop $372m resort in Eastern Region
01 December 2024
Saudi Arabia’s Tourism Development Fund (TDF) has announced plans to develop a multi-use resort on Half Moon Beach in the kingdom’s Eastern Province at an investment of SR1.4 billion ($372 million).
Spanning a 262,000-sq-m area, the project will be operated under the Rixos brand and fully managed by global hospitality leader Accor.
On completion, it will boast 400 hotel rooms and 41 residential villas in addition to a variety of restaurants, cafés and entertainment facilities, thus positioning it as the first all-inclusive coastal resort in the Eastern Province.
Funded by the TDF and supported by foreign investment from FTG International Group, the project aligns with Saudi Arabia’s national tourism strategy.
The resort at Half Moon Bay seeks to enhance the quality of life in the region, contribute to the kingdom’s GDP, and strengthen tourism offerings in the Eastern Province, said Prince Saud bin Naif bin Abdulaziz, the Governor of the Eastern Region, at a key meeting of stakeholders held in Dammam.
- Mega districts unveiled for $63bn Diriyah project
- GlassPoint to build giant industrial solar thermal project
- Neom awards The Line’s design, engineering deals
- RSG likely to spend another $27bn by 2030: Report
- Acwa, Taqa groups secure 7.2GW power project deals
- Global firms to set up factories at Spark
- Tilal unveils $1.6bn luxury development in Al Khobar
- 16 developers in race for 3,000MW solar projects
- NHC to build 10,000 new residential units in Riyadh
- TDF to develop $372m resort in Eastern Region
- Aseer awards main contract for $266m ‘The Point’
