RIYADH: Saudis will receive training and support to help secure hospitality jobs in Historic Jeddah thanks to a new agreement between the Ministry of Tourism and Al-Balad Development Co.
The memorandum of understanding aims to boost collaboration by leveraging resources to enhance knowledge exchange and empower local talent across the hotel, heritage tourism, and tour guiding industries.
The Public Investment Fund’s wholly-owned company serves as the heritage-focused master developer and asset manager for Jeddah’s Al-Balad area. Spanning 2.5 sq. km along the Red Sea coast, the site recently marked its 10th anniversary on the UNESCO World Heritage List.
Saudi Arabia aims to unlock its tourism potential and position the region as a premier global destination by facilitating investment, promoting cultural heritage, and encouraging innovation in the hospitality sector.
The Kingdom targets attracting over 150 million visitors by 2030, creating 1.6 million tourism jobs, and increasing the sector’s contribution to gross domestic product to over 10 percent.
The MoU was signed by Jamil Hasan Ghaznawi, CEO of Al-Balad Development Co., and Hind Al-Zahid, acting deputy for human capital development at the Ministry of Tourism, with the signing witnessed by Minister of Tourism Ahmed Al-Khateeb, according to the Saudi News Agency.
Through its Al-Balad Hospitality arm, the firm plans to deliver over 1,800 hotel units in the area in the coming years.
The company aims to offer visitors unique hotel experiences that blend authenticity and history with modern comforts in the heart of Historic Jeddah.
Launched in early 2024, Al-Balad Hospitality provides a range of accommodations, from heritage hotels in Jeddah to redefined authentic stays.
The Jeddah Historic District, once a Red Sea fishing village and key Silk Road trading hub, now boasts over 600 historic buildings with distinctive architecture and a rich cultural heritage.
The Ministry of Culture oversees the Jeddah Historic District program, which aims to revitalize the area and establish it as a cultural and heritage destination.
