PIF-backed agritourism brand ‘Solan’ announced

By merging agriculture, eco-tourism, and adventure with hospitality, Solan aims to strengthen the foundation of the national tourism industry. Supplied
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Updated 29 September 2025
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PIF-backed agritourism brand ‘Solan’ announced

RIYADH: Saudi Arabia’s tourism landscape is set to transform with “Solan,” a new hospitality brand launched by Dan Co., a subsidiary of the Public Investment Fund.

According to a press release, Solan aims to create a nationwide network of unique farm stay and lodge experiences, directly supporting local communities and economic diversification in line with Vision 2030.

The innovative brand will operate on a franchise model, partnering with lodge, istiraha, and farm owners across Saudi Arabia to help them transform their properties into high-end tourism destinations, offering both overnight stays and day experiences.

This comes as Saudi Arabia accelerates its Vision 2030 push to position tourism as a pillar of economic diversification, raising its target to 150 million annual visitors by 2030 after surpassing the 100 million mark ahead of schedule. 

In 2024, international tourism revenue soared 148 percent from 2019 — the fastest growth among G20 nations.

CEO of Dan Co., Abdulrahman Abaalkhail said: “Solan is the first Saudi hospitality brand to introduce a franchise model in agritourism, opening opportunities to diversify tourism experiences across the Kingdom by providing comprehensive support for our partners.

“This allows us to offer authentic local experiences that showcase the natural beauty and agricultural diversity of various regions, creating unforgettable memories.”

This initiative is designed to diversify local incomes, create direct and indirect job opportunities, and stimulate private sector investment in host cities. 

By merging agriculture, eco-tourism, and adventure with hospitality, Solan aims to strengthen the foundation of the national tourism industry.

The CEO added that the brand promotes sustainable agriculture while empowering local communities to “help build a thriving future for the tourism and hospitality sector, strengthening the Kingdom’s position as a global tourism destination.”

 

According to the press release, Solan is committed to preserving and promoting local culture and traditions, and will also provide opportunities for visitors to learn about both traditional and modern agricultural practices.

Dan Co. signed memorandums of understanding with several strategic partners to contribute to the development of a sustainable local tourism system and develop the business of the agritourism sector by providing financing solutions to farm owners, the press release said.

Beyond financial support, Solan will equip partners with operational guidelines and conduct regular monitoring.

The brand is strategically targeting numerous cities across the Kingdom identified for their farm-based tourism potential. “The first pilot farms by Solan will be announced soon,” the statement said.


Dar Al Arkan annual profit rises 41% to $301m on stronger property sales 

Updated 08 March 2026
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Dar Al Arkan annual profit rises 41% to $301m on stronger property sales 

RIYADH: Dar Al Arkan Real Estate Development Co. posted a 40.54 percent rise in annual net profit to SR1.13 billion ($301 million) in 2025, supported by higher property sales.

According to a filing on Saudi Exchange, the company’s net profit rose from SR806.84 million a year earlier, while annual revenue increased 3.75 percent year on year to SR3.90 billion. 

Operating profit climbed 18.96 percent to SR1.59 billion, while gross profit rose 15.22 percent to SR1.84 billion. 

“The increase in net income is mainly due to the increase in property sales. The increase in finance costs was offset by the increase in lease revenue, decrease in operating expenses, increase in share of income from associates, and increase in non-operating income from Islamic Murabaha deposits and positively impacted the net income,” the company said in the statement. 

Shareholders’ equity after minority interest stood at SR22.22 billion as of Dec. 31, compared with SR21.09 billion a year earlier. 

In February, Dar Al Arkan announced the full redemption of its $400 million sukuk. 

In a Tadawul statement, the company said that the sukuk were redeemed at maturity using internal resources, with the amount transferred to the designated account. 

The company further said that the impact of the sukuk redemption will appear in its first-quarter financial statement. 

The company also disclosed last month that it had received three white land tax-related invoices totaling about SR201.15 million for plots within the Shams Ar Riyadh development, licensed under the Wafi off-plan sales program. The invoices were valued at SR48.32 million, SR108.10 million, and SR44.73 million , respectively. 

In a separate disclosure in September, Dar Al Arkan said 2.83 million sq. meters of its land portfolio falls under the Kingdom’s White Land Tax Law.