Furnished units investors ‘need to know the basics’

President of Saudi Commission for Tourism and Antiquities (SCTA) Prince Sultan bin Salman has demanded that investors in furnished apartments be properly qualified to enter into such a market before acquiring licenses and funding.
Speaking at a press conference ahead of a forum for travel and tourism scheduled for March 31-April 4, Prince Sultan said investors in this area should acquaint themselves with the required procedures on how to set up and operate their businesses.
The SCTA chief has said that a series of decisions, to be announced by the government shortly, will signify the importance of this area as another source of income for the national economy and job generator for citizens in different parts of the county.
In this context, Prince Sultan referred to the directives of Custodian of the Two Holy Mosques King Abdullah and Crown Prince Salman and their insistence on the development of this sector to commensurate with the growing demand from local tourists.
He said the government is keen to provide basic investment and a package of infrastructure services to the sector to ensure that quality services and diversified programs are readily available to Saudi tourists. This will contribute to the reduction of prices.
He said SCTA expects more decisions from the government relating to the establishment of specialized tourist companies similar to that of the heritage hotels company, recently approved by the Council of Ministers.