TDF Signs Financing Agreement on Establishing 5-Star Hotel in Asir

Sunday 1444/5/10 - 2022/12/04
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Abha, Dec 4, 2022, SPA -- Tourism Development Fund (TDF) announced the signing of a financing agreement with NAMA ALAMAL to establish a five-star hotel project managed by IHG Group under the “Intercontinental” brand. The project includes 163 hotel units consisting of 120 rooms and 43 villas, and the project area exceeds 18,000 square meters in (Al-Fara’a) in Asir region, one of the targeted tourist's destinations, which will enhance the quality of life in Abha, increase the number of tourists, and add luxury to the unique nature of Abha.
The announcement of the signing of the financing agreement came during the activities of the "Asir Investment Forum" held from 2 to 3 December 2022, in the presence of Prince Turki bin Talal bin Abdulaziz, Governor of Asir region; Minister of Tourism and Chairman of the Board of Directors of the Tourism Development Fund, Ahmed Bin Aqeel Al-Khateeb; Minister of Investment, Eng. Khalid bin Abdulaziz Al-Faleh; CEO of the Tourism Development Fund, Qusay bin Abdullah Al-Fakhri, and owner of NAMA ALAMAL, Mushabab bin Ali Al-Hamas Al-Qahtani.
11:17 LOCAL TIME 08:17 GMT