Baheej Tourism Development Company, a joint venture between Saudi PIF company Asfar and the Tamimi-AWN Alliance, has announced that it has signed strategic investment agreements with the Royal Commission for Yanbu aimed at transforming the city of Yanbu into a premier tourist destination by introducing four innovative projects along the waterfront.

 

The plans will be overseen by Baheej, whose primary objective is to develop, manage and ensure the successful implementation of these promising projects, encompassing restaurants and beachfront facilities, a luxurious resort, a premium hotel, as well as a visitor services center featuring a diving academy and a marina.

 

The alliance between Asfar and the Royal Commission for Jubail and Yanbu (RCJY) will ensure the Kingdom’s Vision is brought to life, particularly its aim to welcome 150 million visitors by 2030, through promotion of sustainable development and fostering innovation within the tourism sector.

 

The partnership was sealed on the sidelines of the 2024 Future Hospitality Summit (FHS) in Saudi Arabia in the presence of Engineer Khalid bin Mohammed Al Salem, the President of the Royal Commission for Jubail & Yanbu; Engineer Abdulhadi Al Juhani, the CEO of the Royal Commission for Yanbu; Dr Fahad Bin Mushayt, the CEO of Asfar and Norah Al Tamimi, the CEO of Baheej.

 

Commenting on the alliance, Al Juhani said: "The collaboration we have entered into underscores the importance of partnering with the private sector to bolster the tourism industry. We are very pleased to be part of this strategic alliance which is poised to significantly enhance the growth and development of Yanbu’s tourism sector."

 

"This partnership will not only elevate tourism offerings and facilities in Yanbu, but also contribute to the overall progress and diversification of tourism opportunities nationwide, particularly in the Red Sea region," he added.

 

Dr Mushayt said: "We are excited to kickstart this partnership with the goal of launching and implementing unique projects in this strategically important area along the Red Sea. These endeavors will raise the standards of hospitality and entertainment services in the region, providing exceptional accommodation, amenities and world-class entertainment offerings."

 

"We are proud to entrust this project to our subsidiary, Baheej, which will strive to develop groundbreaking concepts that meet international tourism benchmarks," he stated.

 

According to him, Yanbu Governorate stands out as one of the most promising tourist destinations in Saudi Arabia, boasting a rich historical heritage, natural beauty, and significant archaeological and historical sites that present ample opportunities for substantial tourism from local, Gulf and international sources.

 

Al Tamimi said: "We are excited to spearhead the development of the four projects and eagerly anticipate their upcoming launch, which will elevate the Yanbu industrial coastline into a captivating tourist destination drawing visitors from far and wide."

 

"This partnership is a significant leap forward in realizing Vision 2030’s ambitious goals to drive economic diversification and bolster the Kingdom’s standing on the global tourism stage," she stated. 

 

"With unique tourism potential inherent in Yanbu Governorate, we take pride in our contribution to catalyzing a transformative shift in Yanbu’s tourism sector through these innovative and multifaceted projects," she added.-TradeArabia News Service