RIYADH: The Tourism Development Fund will invest more than SR300 million ($80 million) in the Saudi city of Taif, which is located in the western part of the Kingdom, in a bid to attract visitors.
The TDF, a goverment-run organisation fund that aims to strengthen the tourism sector has formed a strategic partnership with the distinguished Al-Ameen Compan.
It will see the development of a hotel with approximately 150 hotel units, retail and entertainment facilities, with additional space for a large outdoor corridor and designated spaces for local and international shops in the area.
The 100,000 square kilometre project reflects a modern concept in shopping by integrating the retail sector and leisure activities.
The project reflects the Fund's commitment to developing emerging tourist areas within the framework of the National Tourism Strategy, Qusay Al-Fakhri, CEO of the Tourism Development Fund said.
He added that it will highlight Taif's distinct and promising potentials, including its mild climate and agricultural sector and enhance the region's attractiveness through world-class tourism facilities.