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Fund of $2.9 Bln to Develop 'Al Kidwa' in Makkah

The Royal Commission for Makkah City and Holy Sites announced the establishment of the real estate fund. (SPA)
The Royal Commission for Makkah City and Holy Sites announced the establishment of the real estate fund. (SPA)
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Fund of $2.9 Bln to Develop 'Al Kidwa' in Makkah

The Royal Commission for Makkah City and Holy Sites announced the establishment of the real estate fund. (SPA)
The Royal Commission for Makkah City and Holy Sites announced the establishment of the real estate fund. (SPA)

The Royal Commission for Makkah City and Holy Sites (RCMC) signed on Tuesday an agreement to establish a SAR 11 billion ($2.9 billion) fund to develop the Al Kidwa area, which is located nearly 500 meters south of the Holy Mosque.

The project will cover an area of 686,056 sq m and include the development of 2,614 properties within the project.

RCMC will facilitate the implementation process by providing alternative solutions for Al Kidwa residents and assisting the fund in obtaining licenses, permits, and approvals required to begin operations.

The agreement was signed on the sidelines of Cityscape Global which witnessed the participation of the RCMC which plays an integrative role with the Holy Makkah Municipality, Kidana, and the country to showcase the projects and investment opportunities of Makkah.

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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Riyadh is set to host the third edition of the Saudi Tourism Forum from January 7 to 9 at Roshn Front.

Organized in partnership with the Ministry of Tourism, the Saudi Tourism Authority, and the Tourism Development Fund, the event will run under the theme "To Discover."

This year’s forum serves as a dynamic platform to highlight new and unique tourist destinations across the Kingdom, offering visitors innovative experiences while showcasing Saudi Arabia’s diverse tourism potential. With over 100 exhibitors, the forum provides an expansive space to explore the latest developments in the tourism sector, spotlight major investment projects, and foster skill development and partnerships to drive tourism growth.

Chief Executive Officer of 4M Event and Chairman of the Forum’s Organizing Committee Eng. Hamza Nasser emphasized the forum’s role in advancing collaboration within the tourism sector. "Through the forum, we aim to promote the beauty of Saudi tourist destinations, enhance cooperation among stakeholders, and raise awareness about investment and development opportunities. This aligns with the goals of the Kingdom’s Vision 2030,” he said.
Since its inception, the Saudi Tourism Forum has significantly advanced efforts to promote the Kingdom's rich cultural heritage and distinctive tourist sites. Supported by prominent partners and sponsors, the event underscores a shared commitment to developing this vital sector.
The program will feature a variety of seminars and workshops, offering insights into the latest trends and developments in tourism. Attendees will have the opportunity to engage with keynote speakers, decision-makers, and industry professionals, enhancing their skills and knowledge.
The forum is expected to attract a diverse audience, including business leaders, investors, officials, and dignitaries, creating fertile ground for collaboration and partnerships.