‘Milestone’ $26 billion deals spur tourism backing in Kingdom

The tower of the Marid Castle, with a base size of around 2 meters and a current height of 4.25 meters, is one of the Kingdom's top tourist sites. (SPA)
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Updated 10 November 2020
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‘Milestone’ $26 billion deals spur tourism backing in Kingdom

  • Domestic, global investors will unlock sector’s potential, says investment chief
  • Agreements span hospitality, leisure, transport and real estate development sectors

RIYADH: As Saudi Arabia opens its doors to tourists from across the world, the General Investment Authority (SAGIA) and Saudi Commission for Tourism and National Heritage (SCTH) have agreed partnerships with regional and global investors worth more than SR100 billion ($26.6 billion).

The agreements and memorandums of understanding (MOUs) signed at a ceremony held at the Ritz-Carlton hotel in Riyadh reflect the enormous potential Saudi Arabia’s growing tourism sector offers to investors across the Kingdom and the world.

Opening Saudi Arabia to tourism is a cornerstone in the implementation of Vision 2030, which seeks to diversify the country’s economy and reduce its dependence on oil.

Saudi Arabia expects to increase international and domestic visits to 100 million a year by 2030, attracting significant foreign and domestic investment, and creating more than a million jobs.

By 2030, tourism is expected to contribute up to 10 percent of Saudi Arabia’s gross domestic product, compared with just 3 percent today.

The agreements demonstrate the private sector’s confidence in the potential of the country’s tourism sector and its prospects for future growth.

SAGIA Gov. Ibrahim Al-Omar said: “In Saudi Arabia, the market fundamentals are in place for a vibrant tourism industry, and we believe that the private sector will play a crucial role in unlocking this potential.

“At SAGIA, our role is to empower and enable domestic and international investors by identifying and developing new opportunities, fostering partnerships and shaping regulatory reforms. Signing these agreements represents a milestone for the Kingdom as we continue charting a path to a new diversified economy.”

Ahmed Al Khateeb, chairman of SCTH, added: “These exciting and wide-ranging agreements are only the beginning of the investment opportunities that will arise within Saudi Arabia, the world’s fastest-growing tourism sector. We anticipate more businesses from around the world will establish operations within the Kingdom as its unique attractions, culture and natural beauty become more widely appreciated.”

Agreements and MOUs signed by SAGIA include:
- Triple 5: Investment opportunities worth SR37.5 billion, with Triple 5 planning to develop mixed-use tourism, hospitality and entertainment destinations across the Kingdom.
- Majid Al Futtaim: MOU worth SR20 billion for a mixed-use shopping and entertainment destination that will create 12,000 jobs and include the region’s largest indoor ski slope and snow park.
- OYO Rooms: SR4 billion agreement with OYO planning to buy 10 or more upper-budget and luxury hotel properties across Saudi Arabia.
- Nenking Group/Ajlan Brothers: SR1.5 billion joint venture to build a landmark lifestyle destination in Riyadh to serve as an anchor point for the Kingdom’s entertainment industry.
- FTG Development: MoU to build a hotel, waterpark and retail development in Qiddiya, a 1,500-room hotel in NEOM, and a hotel between Jeddah and Makkah.
- Kerten Hospitality: Investment license worth SR270 million to develop mixed-use projects across the Kingdom.
- Tetrapylon: Investment license worth SR2.5 million to coordinate with tour operators across North America, Europe and Asia to highlight the Kingdom as a must-visit tourist destination.

Agreements and MOUs signed by SCTH include:
- Al Khozama: Two MoUs on the Mayasem Project and Harbor Project in Jeddah, along with other investment plans covering real estate, food and beverage investments, as well as facility management services and business development projects.
- Diriyah Gate Development Authority: Two MoUs, the first with Greg Norman Golf Design to establish a 27-hole golf course at Wadi Safar, and the second with AMAN Resorts to build an exclusive 40-room hotel in Al-Bujairi, overlooking the Wadi Hanifah Valley, and at the Taif UNESCO World Heritage site.
- Saudia: The airline agreed four MoUs involving the launch of the first commercial flights to NEOM, the creation of Saudi Arabia’s first destination management company; a joint initiative to promote the Red Sea Project as a luxury global destination; and an agreement with the Royal Commission for AlUla.

In addition, organizations including Alshaya Group, Shomoul, Radisson, Alrajhi Investment and Seera Group have made investment commitments totalling SR36.25 billion.

These investments come alongside a broad series of economic reforms promoting rapid growth in foreign investment in Saudi Arabia. The number of foreign investor licenses issued in the first half of 2019 was more than double the number issued in the same period the previous year.


Saudi king, crown prince offer condolences to UAE president on key official’s death

Updated 02 May 2024
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Saudi king, crown prince offer condolences to UAE president on key official’s death

RIYADH: Saudi Arabia's King Salman and Crown Prince Mohammed bin Salman on Thursday offered condolences to the ruler of the United Arab Emirates on the death of a key official and a member of the royal family, the Saudi Press Agency reported. 

In a cable to Sheikh Mohammed bin Zayed Al Nahyan, the UAE president, King Salman expressed "our deepest and sincere condolences" on the death of Sheikh Tahnoun bin Mohammed Al Nahyan, Abu Dhabi’s ruler representative in Al Ain, who died on May 1, 2024.

Crown Prince Mohammed bin Salman expressed "my warmest and most sincere condolences" in a separate cable to the UAE leader, the SPA said.
 


French creatives bring enchanting art experience to Jeddah

Updated 01 May 2024
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French creatives bring enchanting art experience to Jeddah

  • For ‘ETH3R,’ Paul Marlier translates dancer Jeanne Morel’s graceful movements into digital art

JEDDAH: Artist Paul Marlier and dancer Jeanne Morel have brought an interactive digital art display dubbed “ETH3R” to Jeddah’s cultural hub, Hayy Jameel.

The French creatives feature immersive artworks generated using the biometric data of Morel captured during her movement in extreme environments — including in zero-gravity.

The unique blend of technology and creativity has captivated audiences with its perspectives on reality, and contrasts with the often mundane nature of daily life.

In an interview with Arab News, Marlier spoke about the creative process behind their digital artwork. He also highlighted the production of artworks inspired by the human and scientific data he had gathered.

“It is a real pleasure to be here, particularly in Hayy Jameel, where we blend art and science to create a sensory experience like no other,” he said. “It represents the DNA imprint of the world — the dance of our souls.” 

He added: “ETH3R encompasses paintings and dynamic installations derived from the biometric data of my wife, Jeanne Morel, who dances in diverse and extreme environments, from beneath the ocean depths to high-altitude astronaut training.”

Marlier has amalgamated this scientific data regarding human physiology with other information, including air quality, satellite imagery, and even facts from the Red Sea. “These artworks serve as emotional imprints, reminiscent of moments of grace. It’s truly a collaborative effort.”

Explaining the process, he added: “With Jeanne as the catalyst, adorned with sensors akin to a paintbrush, her dance emotions are translated through code into the digital art seen in the paintings. We explore themes of fragility, spirituality, and the inherent unity between humans and nature — the universal dance.”

“We approach data not as mere codification, but as sensations, enabling us to specify and share the experience. By capturing a wealth of information from this singular dancer, we endeavor to materialize the essence of grace,” Marlier said.

Morel added: “Dance is the way to express your deepest emotions, sometimes simpler than words.”

“Dance is the allegory of life. It allows me to stay alive, connected to the movements of the world. Our bodies are constantly dancing, moving, on this earth which itself dances around the sun and remains in balance thanks to gravity,” she added.

Of their first visit to the Kingdom, Marlier said: “The people are absolutely welcoming here. And spirituality and poetry are so present.”

Morel added: “We admire the spirituality and also the open-mindedness of this country regarding art and especially digital art.”

Waleed Harthi, an art enthusiast, said: “Witnessing art that exceeds boundaries was a mesmerizing journey, captivating our senses and sparking wonder at the fusion of art and technology. The live demonstration and dance were incredibly relaxing and offered a serene escape to some other imaginary world.”

The exhibition runs until May 11.


Saudi FM discusses developments in Sudan with army chief, RSF leader

Updated 01 May 2024
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Saudi FM discusses developments in Sudan with army chief, RSF leader

  • During the separate calls, the latest developments in the situation in Sudan and their repercussions on the Sudanese people were discussed

RIYADH: Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan spoke with Sudan’s Sovereign Council Chief General Abdel Fattah Al-Burhan and the leader of Sudanese paramilitary Rapid Support Forces Mohamed Hamdan Dagalo on Wednesday.

During the separate calls, the latest developments in the situation in Sudan and their repercussions on the Sudanese people were discussed, Saudi Press Agency reported. 

Prince Faisal stressed the importance of working to protect Sudan and its people from further destruction and preventing the worsening of the humanitarian conditions there.

The minister also said it was important to prioritise the interests of the Sudanese people and stop the fighting to protect state institutions and bring about safety in Sudan.


Farasan Island celebrates 20th Hareed Fishing Festival

Updated 01 May 2024
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Farasan Island celebrates 20th Hareed Fishing Festival

  • Event showcases tourist activities such as parasailing, traditional folk dances

RIYADH: Fishermen from the Jazan region have started preparing for the 20th Hareed Fishing Festival, which begins on Thursday.

The festival, which takes place on Farasan Island and lasts for two days, celebrates the fishing of parrotfish, otherwise known as hareed.

It showcases various tourist activities such as parasailing, traditional folk dances, and competitions for catching the fish, which is difficult due to their survival instinct which leads them to hide by corals.

Hareed are traditionally caught close to the shore in nets. The brightly colored fish come in different sizes and change color as they grow, the color varying according to their sex. They are considered parrot-like as they have teeth that they use to scrape food off coral reefs.

The fishing season varies across the region’s waters. In the past, the people of Farasan celebrated the event by visiting newlywed brides wearing traditional dress, while women and children joined in the festivities at her home.

Visitors to the festival will also get the chance to explore the heritage sites in Farasan, which include Wadi Matar, Al-Qassar village and Bait Al-Jarmal, along with several historic houses.

The island boasts a unique cultural heritage which centers on sailing and pearl-diving experiences in the past.

Jazan Gov. Prince Mohammed bin Nasser is launching the festival, which is organized by the region’s branch of the Ministry of Environment, Water and Agriculture, in partnership with the islands’ governorate.

Mohammed Al-Atif, the general director of the branch, said that the festival embodied the customs and traditions of the people of the Farasan Islands and was considered an annual event to highlight the region’s tourism potential.

He added that the festival also celebrates hareed, which appears at the same time each year and proves a major attraction for people in the Jazan region.


Riyadh hosts food technology and innovation show

Updated 01 May 2024
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Riyadh hosts food technology and innovation show

  • Industry giants showcase latest in processing, sustainability

RIYADH: More than 400 companies from 35 countries are taking part in the first Saudi Food Manufacturing show, which opened in Riyadh on Tuesday.

Held under the patronage of Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef, the event focuses on processing, packaging and ingredients and aims to facilitate high level business deals, connections and collaborations.

Three companies that won a Saudi Food Manufacturing Award at the event — Multivac, DC Norris and Brenntag — spoke to Arab News.

Amir Sotoudeh, managing director of Multivac, said the German firm won the Best Processing Innovation Award for its TX series and smart services at Gulfood Manufacturing.

The company has had a branch office in Riyadh since 2009 and the Kingdom is the company’s largest market in the Middle East.

“Saudi Arabia is a significant market, especially in recent years, with major developments focusing on local production and manufacturing. That’s where our technology and expertise as a market leader in processing and packaging are essential.”

DC Norris is a UK-based process equipment company serving 62 countries. It provides solutions for food, dairy and beverage manufacturing and won the Best Processing Manufacturing Award.

Stuart Rigby, product and process technology manager at DC Norris, said the company’s jet cook system, which is used in Saudi Arabia, Qatar, Dubai and Azerbaijan, was able to cook meals two to three times faster than traditional methods.

“It also uses considerably less water, resulting in zero burns, requiring less cleaning and reducing costs. Additionally, it consumes up to 55 percent less energy than traditional cooking methods,” he said.

Brenntag, a 150-year-old German company, is the global market leader in chemical and ingredient distribution. It won the Best Ingredients Innovation Award.

Mahaboob Shaik, technical sales manager at Brenntag, said: “We have replicated the characteristics of regular milk-based proteins and constituents using plant-based alternatives. We’ve developed a Greek-style feta cheese made from plant-based ingredients.

“This helps to reduce allergens like milk proteins in dishes like Caesar salad. Now, when you order a salad at a restaurant, you can enjoy a plant-based cheese, which is entirely vegan.”

Several Saudi manufacturers, including Sapin, Anasia and Memco, are taking part in the show, which provides a platform for companies to exchange ideas.

Majed Al-Argoubi, CEO of the Saudi Authority for Industrial Cities and Technology Zones, said: “The industrial sector is going to increase both the GDP and abilities of youth in the Kingdom.

“We are making impressive growth through Saudi Vision 2030 and Made in Saudi is remarkable for expanding cities across the country and achieving our goals.”

Among the most innovative products on display are the Novamyl BestBite from Novozymes, which improves texture and softness in baked goods while extending shelf life to reduce food waste. Others include sustainable packaging for dates from Napco, a sugar reduction method for fruit juice from Austria Juice, Lactosan, a natural culinary booster from FSL and Biopap, a range of renewable, compostable, high-performance food containers.

Pavilions from Italy, Germany, the Netherlands, US, France, Turkiye and China reflect the international scope of the show, which runs until Thursday.