Saudi Arabia’s Tourism Development Fund inks deal to launch $80m tourism project

Taif Front will be a mixed-use development comprising luxury accommodation, retail space and F&B concepts

The Tourism Development Fund (TDF) has announced a strategic partnership with Al-Ameen Real Estate, part of Al Nahla Group, to launch a multi-million dollar tourism project in Taif, Saudi Arabia.

Named ‘Taif Front’, the 100,000 square metre destination will be located in Taif’s Al Khalidiyyah district and feature upscale accommodation with more than 150 keys, as well as retail, entertainment and F&B offerings.

Reflecting Taif’s reputation as one of Saudi Arabia’s leading summer destinations, the project will have significant outdoor space for guests to enjoy the region’s weather and outdoor activities. The site is also close to attractions such as King Fahad Park, the largest garden in the city of Taif, and Al Hada road.

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Speaking about the new development, TDF CEO Qusai Al-Fakhri said: “This signature mixed-use destination in Taif reflects our commitment to developing untapped tourism destinations in line with the National Tourism Strategy.

“With its ideal climate and strong agriculture industry, Taif is in a prime position for development, and we look forward to providing local and international tourists with best-in-class offerings to enhance the region’s tourism offerings.”

Al-Nahla Group executive general manager Sultan Khaled Al-Turki added: “At Al Nahla Group, we believe in the Kingdom’s potential and focus on high-quality real-estate investments in line with our strategic vision. We are pleased to sign this agreement with TDF to develop the mixed-use destination in Taif, a location with significant potential that will benefit both residents and tourists alike.”

To date, TDF has enabled projects with an investment value of around $1.6 billion, including more than $1.06 billion in private sector investments, which will contribute an estimated 3,500 rooms and create 21,000 jobs over the next three years.

For more information, visit www.tdf.gov.sa