RIYADH: The second day of the Saudi Tourism Development Fund’s participation in the TOURISE 2025 forum witnessed the signing of qualitative agreements with a total value exceeding SR700 million ($186.6 million).
These agreements are an extension of the fund’s strategy and its commitment to developing integrated tourist destinations that support the principles of sustainability and governance.
This is achieved through projects that focus on managing natural resources and involving local communities, which supports enhancing the visitor experience and boosting the competitiveness of the tourism sector, in line with the aspirations of Saudi Vision 2030.
The announcement was made for the Basqat Mantis project in the AlUyaynah area, developed by a fund managed by GIB Capital in partnership with Design and Build Co. The project is set to be the largest Mantis brand resort in the world, featuring over 218 hotel rooms, villas, and luxury tents inspired by Saudi culture.
It will offer an integrated hospitality experience that highlights Saudi heritage, thereby strengthening the presence of sustainable tourism as part of the Kingdom's tourism offerings.
In a related context, the fund announced the signing of an agreement with Al Ikhtiyar for Real Estate Co. to develop the Earth hotel in Riyadh. The signing was attended by Prince Sultan bin Mansour, a member of the board of directors.
The hotel presents a contemporary model for sustainable hospitality that blends modern design with Saudi authenticity. It will include co-working spaces, creative areas, fitness centers, and the Earth Brasserie restaurant.
The project aims to foster a balanced hospitality environment that supports the community experience and aligns with the direction of developing hotel facilities that enhance the quality of the experience for visitors and the community.
Furthermore, the fund entered into a strategic Memorandum of Understanding with Al Balad Development Co. to explore cooperation opportunities in supporting and enabling private sector projects within Jeddah. This contributes to highlighting the region’s heritage and leveraging it for the development of the tourism sector.
The Tourism Development Fund continues to solidify its role in enabling sustainable tourism investment and developing qualitative destinations that contribute to enhancing the competitiveness of these destinations. This aligns with the objectives of Saudi Vision 2030 in building a prosperous tourism sector that is balanced environmentally, economically, and socially.










