Newly launched company set sights on Saudi coastal city as first tourism project

Abdulrahman Al-Bassam, executive chairman of AWN Enterprises and a member of Baheej’s board of directors.
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Updated 27 September 2023
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Newly launched company set sights on Saudi coastal city as first tourism project

ABU DHABI: A Saudi coastal city will be the site of Baheej’s first project in its strategy to develop exciting tourist destinations as part of the Kingdom’s Vision 2030 plans.

The development company was launched on Tuesday by a joint venture between AWN Enterprises and Tamimi Group.

Baheej will study each city in Saudi Arabia to identify gaps in a tourist’s itinerary, and speaking to Arab News on the sidelines of the Future Hospitality Summit in Abu Dhabi, one of the executives involved with the company gave more details of its future plans.

“We are extremely in the early stages. That will be the first asset that will be developed and up and running by, I would say, the beginning of 2027,” said Abdulrahman Al-Bassam, executive chairman of AWN Enterprises and a member of Baheej’s board of directors.

Without sharing further details about the project’s site, the executive confirmed that “it will be a coastal city.”

Al-Bassam said he hoped Baheej would help Saudi Arabia meet its economic diversification goals for tourism, which includes attracting 100 million local and international visitors annually by 2030.

Norah Al-Tamimi, who hails from one of the Kingdom’s most influential family businesses, has been appointed the acting chief executive.

Expanding on the remit of the new initiative, Al-Bassam said: “Each project starts with an assessment of the destination, if the gap is for example, in the hospitality offering, we provide accommodation solutions. If the gap is in, let’s say, lack of visitor facilities, beach retreat or you name it, that would be part of the project assets that we would like to develop in a certain city.

Baheej is also focused on destination management, and will work hand-in-hand with local governments and authorities, as well as empowering local entrepreneurs “let’s imagine a local tour operator who owns, say, a couple of horses, we can provide them with the tools and marketing support to to use them a touristic experience, thus touring it into an opportunity” said the executive.

Al-Bassam noted that Asfar comes in “with its power as an investor, as well as a catalyst with regional players, be them regulators or service providers or affiliates and companies within the PIF conglomerate.”

Asfar was created by the Public Investment Fund earlier this year to support the Kingdom’s tourism strategy, which is a key part of Vision 2030.

Al-Bassam went on to state: “Whereas our alliance — Tamimi Group and AWN Enterprises — that’s the private partner within this partnership, comes in with their experience in contracting and in professional services as well as the hospitality, restaurants, and catering business.”

The company’s head noted that he views gaps in Saudi Arabia’s tourism as opportunities rather than problems, as this denotes room for improved tourism experiences.

“Each town in Saudi Arabia has its own uniqueness and we would like to tap into this,” he said.


Post-break return of students drives surge in education spending, SAMA data shows

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Post-break return of students drives surge in education spending, SAMA data shows

RIYADH: Spending on education in Saudi Arabia increased by 141.1 percent for the week ending Jan. 24, as students returned to the classroom after the mid-year break.

This was accompanied by a 7 percent increase in spending on books and stationery, which reached SR146.17 million ($38.9 million).

According to the latest data from the Saudi Central Bank, the over POS value dropped 10.6 percent to SR12.52 billion, with transactions representing a 9.7 percent week-on-week decrease to 213.62 million.

This week saw negative changes across all the remaining sectors. Spending on bakeries and pastries saw an 18.4 percent decline to SR229.71 million, while gas stations saw an 11 percent drop. Professional and business services decreased by 11.6 percent.

Expenditure on apparel and clothing fell by 19.7 percent to SR985.94 million, followed by a 2.8 percent drop in spending on jewelry.

Spending on car rentals in the Kingdom fell by 14.7 percent, while airlines saw a 9.3 percent decrease to SR38.16 million.

Expenditure on food and beverages saw a 7.9 percent decline to SR1.88 billion, claiming the largest share of the POS. Restaurants and cafes retained the second position despite an 18.5 percent decrease to SR1.50 billion.

Geographically, Riyadh accounted for the largest share of total POS spending, but still saw a 6 percent dip to SR4.46 billion, down from SR4.74 billion the previous week. The number of transactions in the capital settled at 69.07 million, down 6.8 percent week on week.

In Jeddah, transaction values decreased by 13.6 percent to SR1.75 billion, while Dammam reported a 4.8 percent decrease to SR640.59 million.

POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia. 

The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives. 

The growth of digital payment technologies aligns with the Kingdom’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.