PIF’s Dan Co. to launch resort in Al-Ahsa to boost Saudi tourism sector

The initiative is part of the Kingdom’s broader strategy to enhance the tourism industry and elevate hospitality standards across the country.
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Updated 15 December 2024
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PIF’s Dan Co. to launch resort in Al-Ahsa to boost Saudi tourism sector

RIYADH: Saudi Arabia’s tourism sector is poised for significant growth with the announcement of a new resort project in Al-Ahsa by Dan Co., a subsidiary of the Public Investment Fund.

The initiative is part of the Kingdom’s broader strategy to enhance the tourism industry and elevate hospitality standards across the country.

The resort will integrate sustainability, innovation, and high-quality service, in line with Saudi Arabia’s Vision 2030 objectives. By focusing on these key principles, the project aims to enhance the appeal of Al-Ahsa as both a local and international tourism destination.

This move is also aligned with the Kingdom’s ambitious goal of attracting 150 million visitors by 2030 and increasing the tourism sector’s contribution to the national gross domestic product from 6 percent to 10 percent.

Saad Al-Kroud, chairman of Dan Co., highlighted that the resort will leverage Al-Ahsa’s unique natural beauty and rich cultural heritage.

The project will promote rural, recreational, and ecotourism, offering visitors a variety of experiences that showcase the region’s diverse landscapes and agricultural legacy.

“By focusing on the natural environment and cultural heritage, this development will offer distinctive experiences that cater to a wide range of interests, further solidifying Al-Ahsa’s position as a key destination in Saudi Arabia’s tourism map,” Al-Kroud said.

As part of PIF’s broader vision to transform the Kingdom’s tourism landscape, Dan Co. is committed to promoting agritourism, adventure tourism, and ecotourism.

These initiatives aim to deepen the connection between visitors and nature, while creating economic opportunities for local communities and fostering sustainable development.

Through this project, Dan Co. aims not only to enhance Saudi Arabia’s tourism offerings but also to help diversify local economies and support the growth of thriving businesses in the region.


Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

Updated 17 February 2026
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Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06. 

The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.  

Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).  

Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.  

Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30. 

On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.

Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50. 

On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.  

The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.  

The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.  

The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session. 

Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.  

Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.

Tadweer shares last traded at SR3.80, up 2.70 percent.