Tourism Development Fund Signs agreements exceeding SAR 700 million to advance sustainability in the tourism sector at TOURISE 2025

The Tourism Development Fund (TDF), the national enabler of the Kingdom’s tourism sector, has signed a series of strategic agreements exceeding SAR 700 million on the second day of TOURISE 2025.

The agreements reflect the TDF’s strategy and commitment to developing integrated tourism destinations based on comprehensive sustainability principles through projects that promote responsible resource management, enhance community participation, and apply effective governance practices. The initiatives aim to elevate the visitor experience and enhance the competitiveness of the tourism sector in line with the aspirations of Saudi Vision 2030.

The announcements included the Basiqat by Mantis project, in the Al-Uyaynah in Riyadh, through a Fund managed by GIB Capital, with Design & Build as the project developer. The project will be the largest Mantis resort worldwide, featuring more than 218 hotel rooms, villas, and luxury tents inspired by Saudi culture. It will offer an integrated hospitality experience that highlights Saudi heritage and strengthens the presence of sustainable tourism as a key part of the Kingdom’s visitor experience.

The Fund also signed an agreement with Modern Choice Development Company to develop an Earth Hotel in Riyadh, with the signing ceremony attended by HRH Prince Sultan bin Mansour Al Saud Board director’s member. The project represents a contemporary model of sustainable hospitality that blends modern design with Saudi authenticity. The hotel will feature co-working spaces, creative hubs, fitness centers, and the Earth Brasserie, inspired by local heritage. It aims to promote a balanced hospitality environment that supports community engagement and aligns with the national direction to develop environmentally conscious hotels that enhance the quality of experience for both visitors and residents.

TDF also signed a strategic Memorandum of Understanding (MoU) with Al-Balad Development Company to explore opportunities for cooperation in supporting and empowering private-sector projects within Historic Jeddah, contributing to the preservation of local heritage and its integration into tourism development.

Through these initiatives, the Tourism Development Fund continues to solidify its role in enabling sustainable tourism investment and developing high-quality destinations that enhance the competitiveness of Saudi tourism. These efforts align with the objectives of Saudi Vision 2030, which aim to build a thriving, environmentally balanced, and socially responsible tourism sector.