The unveiling ceremony
Saudi Arabia’s ministries of tourism and investment approved the first batch of projects benefiting from the Hospitality Investment Enablers Program.
Through the program, the Ministry of Tourism, in collaboration with the Ministry of Investment, offers investment incentives to the private sector to support hospitality projects across several tourist destinations in the Kingdom.
The program aims to reduce operating costs for beneficiary projects, enhance their economic feasibility, and boost their investment appeal.
The first batch comprises 19 projects across five tourist destinations in the Kingdom. The incentives are expected to unlock investments worth up to SAR 6.7 billion and generate more than 17,000 new jobs.
In terms of capacity, the projects approved under the first batch are expected to add more than 3,000 hotel rooms, 40% of which will be located in coastal destinations.
The first projects benefiting from the program are scheduled to begin operations by the end of 2026, with the remaining projects set to open in phases through 2029.
The unveiling ceremony
Saudi Arabia’s ministries of tourism and investment approved the first batch of projects benefiting from the Hospitality Investment Enablers Program.
Through the program, the Ministry of Tourism, in collaboration with the Ministry of Investment, offers investment incentives to the private sector to support hospitality projects across several tourist destinations in the Kingdom.
The program aims to reduce operating costs for beneficiary projects, enhance their economic feasibility, and boost their investment appeal.
The first batch comprises 19 projects across five tourist destinations in the Kingdom. The incentives are expected to unlock investments worth up to SAR 6.7 billion and generate more than 17,000 new jobs.
In terms of capacity, the projects approved under the first batch are expected to add more than 3,000 hotel rooms, 40% of which will be located in coastal destinations.
The first projects benefiting from the program are scheduled to begin operations by the end of 2026, with the remaining projects set to open in phases through 2029.
