Saudi Arabia’s Tourism Development Fund (TDF) and Seera Group have signed a financing agreement to establish and operate the Raghadan Tourist Resort, the first sustainable tourism project in the Al Baha region – one of the main investment destinations identified under the Kingdom’s National Tourism Strategy.
The agreement was signed during an event at the Al Baha Principality Building by TDF CEO Qusai Al-Fakhri and Seera Group CEO Majed Al Nefaie.
The Raghadan Tourist Resort project represents the beginning of a new era in Al Baha’s history and will be a major boost for tourism in the region.
Al-Fakhri expressed his happiness with the support that the project has received from Al Baha Governor Prince Hussam bin Saud bin Abdulaziz Al Saud and the Ministry of Municipal, Rural Affairs and Housing.
He said: “This support reflects the strong integration between government sectors to serve tourism investments in Saudi Arabia and reinforces the co-operation between TDF and Seera Group to transform the Al Baha region into one of the leading tourist destinations in the Kingdom.”
Al-Fakhri also expressed his confidence in Seera Group and its capabilities to develop the project – which aims to attract domestic and international tourists – to the highest engineering and environmental standards.
Al Nefaie added: “Developing tourist destinations based on unique experiences will be an important priority for the Saudi tourism sector over the coming years. We believe that this project will make Al Baha an attractive destination for holidays, recreational activities, meetings, exhibitions, and conferences.
“Additionally, we hope it will be a catalyst for further tourism projects and investments in the region that contribute to Saudi Arabia’s economic growth and the creation of more sustainable jobs in the Kingdom.”
Under the partnership, Seera Group will develop a sustainable tourism development stretching across an area of 50,000 sqm that aims to ensure the preservation of the Al Baha region and its social, environmental, and economic sustainability.
The destination will include a luxury hotel resort with 200 guest rooms and family suites, a multi-purpose hall, outdoor spaces and a number of shops, restaurants and cafes. There will also be a children’s activity centre, theatre, traditional market, and a modern shopping centre.