Experts: Launch of ‘Boutique Group’ Enhances Tourism Gains by Reviving Heritage

Photo shows the newly announced Boutique Group logo against the backdrop of a luxurious-looking building. January 20, 2022. (PIF)
Photo shows the newly announced Boutique Group logo against the backdrop of a luxurious-looking building. January 20, 2022. (PIF)
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Experts: Launch of ‘Boutique Group’ Enhances Tourism Gains by Reviving Heritage

Photo shows the newly announced Boutique Group logo against the backdrop of a luxurious-looking building. January 20, 2022. (PIF)
Photo shows the newly announced Boutique Group logo against the backdrop of a luxurious-looking building. January 20, 2022. (PIF)

Saudi Arabia’s Crown Prince Mohammed bin Salman has unveiled ‘Boutique Group’ to develop historical palaces into luxury boutique hotels, the Kingdom’s Public Investment Fund (PIF) announced on Thursday.

Boutique Group is a “a new hospitality brand that will manage and convert a collection of iconic historic and cultural palaces in Saudi Arabia into ultra-luxury boutique hotels.

The company will revive the vibrant heritage and culture of Saudi Arabia to create a new and unique hospitality experience,” the PIF announced in a statement on Thursday.

Specialists assured Asharq Al-Awsat that the project enhances the Kingdom’s tourism level both regionally and internationally.

They indicated that PIF is witnessing qualitative leaps in terms of projects that aim to diversify the country’s sources of income.

Majed Al Hokair, General Manager and CEO of Abdul Mohsin Al Hokair Company, told Asharq Al-Awsat that the launch of the Boutique Group by the Crown Prince is an important step towards enhancing tourism in Saudi Arabia.

It does so by offering unique quality projects that enable visitors to have a different and attractive experience that reflects the country’s position as a leading tourist and cultural destination.

Hokair added that PIF is moving towards its goals in launching mega projects that contribute to the development of the local economy and diversify the country’s sources of income.

Developing historical and cultural palaces in Saudi Arabia and transforming them into ultra-luxury boutique hotels is an important step to diversify the opportunities that the tourism market enjoys, Hokair clarified.

The CEO pointed out that this experience exists in many countries of the world and has the advantage of living in historical sites, while at the same time reviving heritage places that reflect the authentic Saudi character.

The first phase of the project will focus on the development of three palaces including al-Hamra Palace in Jeddah, Tuwaiq Palace and Red Palace in Riyadh.

Al-Hamra Palace will reportedly offer 77 keys, including 33 luxury palace suites and 44 luxury villas in Jeddah. Tuwaiq Palace will provide 96 keys of 40 luxury palace suites and 56 luxury villas. Whereas Red Palace will offer 71 keys, including 46 luxury suites, and 25 luxury guest rooms.



Saudi Arabia Records Significant Increase in Potato Production

Saudi Arabia Records Significant Increase in Potato Production
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Saudi Arabia Records Significant Increase in Potato Production

Saudi Arabia Records Significant Increase in Potato Production

The Saudi Ministry of Environment, Water and Agriculture announced a remarkable 47% increase in potato production in 2023, achieving a self-sufficiency rate of 86% with over 621,750 tons of potatoes produced compared to 423,770 tons in 2021.

This milestone was achieved after more than 17,000 hectares of land were cultivated with potatoes in 2023, up from 15,890 hectares in 2021. The potato production surge has positively impacted the manufacturing sector, stimulating investment and the use of advanced technologies.

According to the Ministry, overall vegetable production in 2023 reached 3.21 million tons, marking a 19% rise from 2020.

The significant improvement in agricultural productivity and its SAR109 billion contribution to the GDP are attributed to the Ministry's strategic initiatives focused on boosting self-sufficiency, attracting investments, and providing financial support, including increased financing rates for modern technology-based projects.

By prioritizing local production and reducing reliance on imports, the ministry aims to achieve the goals outlined in Saudi Vision 2030 and diversifying the national economy.