RIYADH: Saudi farmers can now become investors and entrepreneurs thanks to Dan Co., an affiliated company of the Kingdom’s sovereign wealth fund, according to the CEO.
Speaking to Arab News on the sidelines of the Public Investment Fund Private Sector Forum, Abdulrahman Abaalkhail set out an expansive vision aimed at revolutionizing the agro-hospitality landscape in Saudi Arabia.
With a focus on community integration and sustainable development, Abaalkhail articulated Dan Co.’s comprehensive strategy encompassing local investors, job creation, and training initiatives.
He said: “What I can think of is actually three areas. One is the local investors, two people, and three training and development.”
The CEO of the firm, which is wholly owned by PIF, added: “We are enablers of local investors where we could tap into their assets and most likely those funds are not utilized. So we are helping them to tap into their assets. So the farm owners, they are becoming investors, entrepreneurs, so they have fresh revenues.”
Drawing from the company’s name, Abaalkhail said: “Dan comes actually from the Holy Qur’an, from Surat Ar-Rahman, which is ... and the fruits of the two Gardens will be near at hand.”
Abaalkhail added: “Dan means something that is close and near reachable, reflecting our values of community integration and accessibility.”
Emphasizing the dual facets of Dan Co.’s mission, Abaalkhail delineated: “The first one is building themed resorts, agricultural adventure, and eco-resorts in which we are an agri-developer, an investor, and an operator at the same time.”
Al-Ahsa, renowned for its vast palm oasis, emerged as the flagship location for Dan Co.’s inaugural endeavor. Abaalkhail commended the region’s unique appeal, saying: “Al-Ahsa is a unique site with the largest oasis, palm oasis for more than 2.5 million palm trees. So this is where we are starting with Al-Ahsa.”
However, Abaalkhail’s vision transcends commercial ventures. It embraces a holistic ethos that intertwines environmental sustainability with economic prosperity.
The CEO said: “Environmental sustainability and tourism development go hand-in-hand when it comes to the agro-hospitality definition. So it has to be balanced from the pre-construction.”
Abaalkhail’s enthusiasm was noticeable as he hinted at imminent developments on the horizon.
“Throughout the year, we’ll have more development. Today, honestly, we are working on multiple phases, and I think in the second half of the year, we will have much more development,” he disclosed.
Abaalkhail underscored interest in the project, saying: “Investors and people are very much welcome to the idea, the opportunity, and they would like to partner ... So it is something from the community and to the community itself.”
