The Saudi Commission for Tourism and Antiquities (SCTA) has signed a contract to launch a SR250 million heritage hospitality company.

The Saudi Company for Heritage Hospitality will convert several heritage buildings in the Jeddah Historic Zone to tourist hotels and resorts, said one source.

The new company will be responsible for the administration and operation of several heritage lodging and hospitality facilities owned by the state in line with the Kingdom’s policy of protecting the urban heritage.

The company’s launch comes in the wake of SCTA efforts to benefit from state-owned heritage buildings and archaeological sites.

The Council of Ministers endorsed the SCTA’s move to establish the company in collaboration with the General Investment Fund last year, the source said.

The project aims to highlight the country’s heritage buildings after studying pioneering attempts in other countries.

Workers in the tourism sector believe that the new hotels will be a unique initiative in the field of tourist lodging in the Kingdom, especially for tourists who seek an authentic yet modern feel.

The Jeddah Chamber of Commerce and Industry said last year that it would establish a SR100 million fund to develop the historic area of downtown Jeddah and open several lodging facilities in ancient buildings that exhibit Hijazi architecture with decorated lattice work.