Tourism Development Fund Announces Over SAR 7 Billion in Foreign Investments and Strategic Agreements in Al Khobar during “TOURISE 2025.”

The Tourism Development Fund (TDF), the national enabler of Saudi Arabia’s tourism sector, concluded its participation in the third and final day of the TOURISE 2025 forum by unveiling landmark agreements and projects exceeding SAR 7 billion. These developments aim to create integrated tourism destinations in Al Khobar that enhance the diversity of the Kingdom’s tourism offering, elevate hospitality standards, and reinforce Saudi Arabia’s position as a leading global hub for sustainable tourism.

The announcements were made in the presence of HRH Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province; H.E. Ahmed Al Khateeb, Minister of Tourism and Chairman of TDF; H.E. Majid Al-Hogail, Minister of Municipalities and Housing; H.E. Fahd Al-Jubeir, Mayor of the Eastern Province and Chairman of Ashraq Development Company; Mr. Qusai Al-Fakhri, CEO of TDF; and Mr. Abdullah Al-Fozan, Chairman of Ajdan Company, along with senior executives representing all partner organizations.

Among the key projects announced was the establishment of the Al Khobar Pier Project Fund, a partnership between Ashraq , Ajdan, and Aljazira Capital. Spanning 671,000 m² with an 850-meter waterfront, the project aims to transform Al Khobar Pier into one of Saudi Arabia’s most promising tourism and lifestyle destinations. The development will feature world-class hotels and resorts offering more than 1,450 rooms and serviced units, in addition to branded residential properties operated by leading international hospitality brands.

The destination will also include retail areas, restaurants, and entertainment facilities designed to provide visitors with an integrated, vibrant, and year-round experience. The project is expected to drive tourism spending, attract local and international private investment, and advance national goals for tourism growth and quality of life enhancement. It further stands as a model of public-private collaboration, reflecting partners’ shared commitment to developing projects that meet community aspirations and strengthen the Kingdom’s position on the global tourism map.

TDF also announced the signing of a financing agreement for the Rixos Half Moon Beach Resort, in partnership with Saudi Fransi Bank, managed by Saudi Fransi Capital, and developed by FTG Development Co. The luxury resort, located on the pristine Half Moon Bay coastline, spans over 260,000 m² and will feature 400 hotel rooms, 41 beachfront villas, 5 swimming pools, a water park, a comprehensive wellness center, and six international restaurants offering world-class dining experiences.

Designed under the all-inclusive hospitality model, the project aims to expand premium accommodation options in the Eastern Province, enhancing its appeal as a distinguished leisure destination and meeting the expectations of travelers seeking a fully integrated experience that blends comfort, entertainment, and modern design. The Rixos Half Moon Beach Resort is expected to stimulate investment in the hospitality sector and contribute to the diversification of the national economy, in line with Vision 2030 objectives.

With these strategic projects, the Tourism Development Fund concludes its participation in TOURISE 2025, reaffirming its pivotal role as a national enabler of the tourism sector and a key partner in driving Saudi Arabia’s tourism transformation, locally and globally. Through its growing portfolio of strategic partnerships, TDF continues to enrich quality of life, unlock economic opportunities, and enhance the cultural and social experiences of residents and visitors alike.