Red Sea Markets Company, Tourism Development Fund join hands to spur tourism in KSA
An investment partnership has brought together the Red Sea Markets Company and the Tourism Development Fund in Saudi Arabia with an aim to establish first-of-its-kind a mixed-use project in Abha city.
With an investment worth SAR950 million the mixed-use project will span 75,000 sqm. The project will include a Hilton hotel with a capacity of 150 rooms and 100 apartments, a shopping centre, a hypermarket, restaurants, cafés, cinema, a youth centre, a medical clinic and much more.
The Red Sea Markets Company owns one of the leading shopping and entertainment projects in the Kingdom, the Red Sea Mall in Jeddah, and it is working to replicate the success in Abha. The aim is to position the Abha Project as a leading tourism destination for shopping, entertainment and recreation in the Asir region.
In September 2021 His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Prime Minister of the Council of Ministers, introduced a strategy to develop the Asir region with a goal to transform it into a global year-round touristic destination attracting 10 million visitors by 2030. This announcement prompted private and government sectors to take the required steps and launch several investment and tourism projects to achieve the strategy.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha BAsda and Deliverect Deepen Partnership to Power Rapid Delivery Across Asda Express
SQUATWOLF’s Kuwait Flagship Store Anchors Its Regional Growth Ambitions
Global beauty icon Ulta Beauty to make Riyadh debut at Panorama Mall
/ 
For decades, Haldiram’s built deep recall across the UAE through its packaged
When House of Habanero opened its first physical location at Alserkal Avenue
Union Coop has completed a significant expansion of its Hatta Souq branch,
Saudi Arabia is set to welcome U.S. food exporters this week, as
Majid Al Futtaim has officially entered the discount retail segment with the
As convenience increasingly becomes currency in the region’s grocery landscape, Union Coop
As wellness becomes a lifestyle in the UAE, the grocery aisle is
Grandiose, one of the leading grocery retailers in the UAE with a
With shifting consumer behaviour, rising cost pressures, regulatory changes, and rapid digitization,
Union Coop’s blend of retail expansion, digital innovation, and community focus is
Abu Dhabi-based MAIR Group has marked a pivotal stage in its transformation
In a move that blurs the line between shopping and investing, Apparel
/ 
An evening where global retail leadership met Saudi Arabia’s rising influence in
Under the patronage of His Royal Highness Prince Saud bin Mishaal bin
Alandalus Property Company is one of Saudi Arabia’s leading real estate investment
Red Sea Markets Company unveils a transformative evolution to Red Sea Mall,
The Point represents a strategic partnership between the Red Sea Markets For
Azad Properties, a leading real estate developer in Saudi Arabia, has signed a Memorandum of Understanding (MoU) with the National Housing Company (NHC).
In an era where digital transformation is pivotal, shopping malls are not
This panel discussion at MRF 2024 explored the evolution of retail spaces,
An exclusive piece contributed By Oliver Morgan, Partner, Real Estate Development &
In the bustling retail environments, where shopping malls are not just places
Previous Article
