Latest news with #AseerRegion
Zawya
14-07-2025
- Business
- Zawya
ACWA Power consortium signs $8.3bln Saudi renewable energy project deals
Saudi Principal Buyer has announced that it has signed power purchase agreements with a consortium led by Saudi utility major Acwa Power for seven new renewable energy projects worth a total of SAR31 billion ($8.3 billion). These deals fall within the National Renewable Energy Program, supervised by the Saudi Ministry of Energy. On completion, the projects will boast a total capacity of 15,000MW. Saudi Principal Buyer said the consortium will have Acwa Power as the main developer, with partners - Water and Electricity Holding Company (Badeel), owned by the Saudi sovereign fund PIF, and Aramco Power, owned by global oil giant Saudi Aramco. The signing ceremony was attended by Minister of Energy and the Board of Directors of the Principal Buyer Prince Abdulaziz bin Salman bin Abdulaziz Al Saud. Saudi Principal Buyer said of these seven renewable energy projects, five are photovoltaic (PV) solar projects: *Bisha Project in Aseer Region, with a capacity of 3,000MW and a levelized cost of energy (LCOE) of 4.83708 halalas/kWh (1.28989 US cents). *Humaij Project in Madinah Region, with a capacity of 3,000MW and an LCOE of 4.90682 halalas/kWh (1.30848 US cents). *Khulis Project in Makkah Region, with a capacity of 2,000MW and an LCOE of 5.10439 halalas/kWh (1.36117 US cents). *Afif 1 Project in Riyadh Region, with a capacity of 2,000MW and an LCOE of 4.74736 halalas/kWh (1.26596 US cents). *Afif 2 Project in Riyadh Region, with a capacity of 2,000MW and an LCOE of 4.72346 halalas/kWh (1.25959 US cents). The two wind energy projects are: *Starah Project in Riyadh Region, with a capacity of 2,000MW and an LCOE of 7.71422 halalas/kWh (2.05712 US cents). *Shaqra Project in Riyadh Region, with a capacity of 1,000MW and an LCOE of 6.99750 halalas/kWh (1.86600 US cents). Saudi Principal Buyer said the signing of these agreements represents the largest capacity globally signed for renewable energy projects in a single phase. It confirms the kingdom's continued leadership in developing renewable energy infrastructure and achieving globally competitive costs of electricity production per kilowatt-hour, due to efficient financing and development models, as well as growing investor confidence in the Saudi investment environment. Saudi Principal Buyer has a major role in these projects as the key entity responsible for preparing feasibility studies, tendering electricity generation projects, and signing power purchase agreements with developer consortia. To date, the company has launched renewable electricity generation projects with a total capacity of 43,213 MW. Of these, power purchase agreements have been signed for projects with a total capacity of 38,713 MW, while 10,213 MW have already been connected to the grid. By the year end, the total capacity of grid connection is set to hit 12,713 MW and further soar to 20,013MW by 2026-end. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arabian Business
20-06-2025
- Arabian Business
Saudi Summer 2025 tourism campaign targets $19.5bn spend and 41million visitors
The Saudi Tourism Authority has officially launched the Saudi Summer 2025 campaign under the slogan 'Colour Your Summer'. The campaign offers a diverse lineup of cultural, leisure, and adventure experiences across six major destinations until the end of September. The initiative aims to attract more than 41m domestic and international tourists, with projected tourism spending exceeding SR73bn ($19.5bn). Saudi summer tourism As part of Vision 2030, the campaign reinforces Saudi Arabia's goal to position itself as a global tourism hub by highlighting its natural beauty, cultural heritage, and modern entertainment offerings. This year's program features more than 600 unique experiences and tourism products across the Kingdom, from coastal escapes and mountain adventures to high-profile global events. Key destinations and highlights of Saudi Summer 2025 Aseer Region: A renewed edition of the Aseer Summer Season offers a blend of culture, art, and adventure in the Al Muftaha Village and Plato Event. Visitors can explore mountain trails, ancient stone houses, and enjoy moderate weather, making it a perfect retreat for both thrill-seekers and culture enthusiasts Riyadh: Saudi Arabia's capital hosts the second edition of the Esports World Cup (EWC), the largest event of its kind globally. Alongside gaming, Riyadh will offer art, entertainment, and cultural events, reaffirming its status as a vibrant urban destination Jeddah: With its Red Sea coastline, Jeddah will unveil new beaches and resorts, delivering luxury and marine activities including diving, water sports, and Circus 1903 performances. The city's City Walk and family-focused events are expected to draw significant tourist numbers Red Sea Islands (Sheybarah and Ummahat): Opening to the public for the first time, these pristine islands offer ultra-luxury, eco-conscious stays, featuring white sands, coral reefs, and sustainable resorts, aligning with Saudi's vision of high-end tourism Taif: Famed for its cool mountain breeze and Taif roses, the city invites tourists to Arruddaf Park, traditional markets, and the mist-covered peaks of Al-Shafa and Al-Hada. It's a top choice for those seeking nature, history, and heritage Al Baha: Al-Baha showcases the natural beauty of Raghadan Forest, where misty trails, historic villages, and lush valleys offer a serene and immersive escape for explorers and wellness travellers alike To support the campaign, the Kingdom has added over one million domestic flight seats, improving air connectivity across all destinations and facilitating seamless travel for both local and international tourists.
Zawya
01-06-2025
- Business
- Zawya
TDF participates as 'Strategic Partner' in Aseer Investment Forum
Abha – Under the patronage of HRH Prince Turki bin Talal bin Abdulaziz, Governor of the Aseer Region and Chairman of the Aseer Development Authority, the Tourism Development Fund (TDF) -the national enabler of the tourism sector- took part in the 2nd edition of the Aseer Investment Forum. The forum spotlights high-potential investment opportunities across the region's key sectors, with a special focus on tourism. TDF's participation as a strategic partner reaffirms its commitment to supporting high-impact projects, empowering MSMEs, and accelerating tourism investments in a region known for its extraordinary natural and cultural appeal. As part of the forum's agenda, senior executives from TDF embarked on site visits to several flagship tourism projects supported by the Fund in the Aseer region. The tour began with The Point—the region's largest mixed-use development. Spanning 75,000 square meters, the destination marks the first Hilton-branded hotel in Aseer, featuring 250 guest rooms. The project also includes a vibrant retail hub with 150 stores, 41 restaurants and cafés, and 10 state-of-the-art cinema halls. Thoughtfully designed to celebrate the region's cultural identity, The Point offers a seamless fusion of hospitality, entertainment, and shopping in one dynamic location. The delegation then visited Khayal Walk Boulevard, an entertainment and retail complex distinguished by its innovative design, which blends urban architecture with the mountainous terrain of Aseer. The project includes terraced levels that house upscale boutiques, restaurants, and cafés, delivering a refined visitor experience anchored in local heritage. Next on the itinerary was the InterContinental Hotel, one of the region's flagship luxury hospitality developments. Strategically located to offer stunning natural views, the hotel comprises over 200 rooms and operated by global hospitality leader IHG Hotels & Resorts. It also features an array of amenities, including fine dining venues, event spaces, and a children's club, serving a broad spectrum of traveler needs. The final stop was Le Premier, Aseer's first mixed-use destination that fuses modern aesthetics with a strong national character. The development includes six locally inspired restaurant and café buildings and the four-star Hajlah Hotel, which will offer approximately 150 rooms and a state-of-the-art conference hall, establishing the destination as a year-round draw for both leisure and business tourism in Abha. The combined value of tourism projects enabled by TDF in the Aseer region has now reached approximately SAR 2 billion, reflecting the Fund's ongoing commitment to developing distinctive tourism destinations that contribute to the realization of Saudi Vision 2030. Qusai Al-Fakhri, CEO of TDF, commented: 'Our participation in the 2nd Aseer Investment Forum aligns with the Fund's broader strategy to enable promising destinations across Saudi Arabia. By catalyzing tourism investments and providing tailored financial and advisory solutions, we support transformative projects to grow and thrive. Aseer's exceptional natural and cultural assets make it a prime destination for tourism development, and we are proud to foster partnerships that drive sustainable growth in line with the National Tourism Strategy and Saudi Vision 2030.' During the forum, TDF held a workshop titled: 'Tourism Financing: Sustainable Solutions for Investors in the Aseer Region,' which explored TDF's portfolio of financial offerings. The session provided insights into eligibility criteria, access mechanisms, and investor-focused financing solutions tailored to the local market. TDF also featured a dedicated interactive booth, where it showcased its suite of financing products and non-financial programs, offering direct consultations to entrepreneurs and investors interested in entering the tourism sector in the Aseer region. Through initiatives like these, TDF continues to play a pivotal role in shaping sustainable tourism destinations that enrich the visitor experience and position the Kingdom as a leading global tourism hub, fully aligned with the aspirations of Saudi Vision 2030. About the Tourism Development Fund (TDF) The Tourism Development Fund (TDF) is Saudi Arabia's national enabler of the tourism sector, going beyond financing to drive high-impact investments and enhance the competitiveness of the Saudi's tourism destinations. TDF enables entrepreneurs and tourism businesses with tailored financial solutions and non-financial support programs while attracting local and international investors to develop landmark tourism projects. With a vision to create a dynamic and attractive investment environment, TDF fosters strategic partnerships, supports economic diversification, enriches visitor experiences, and strengthens Saudi Arabia's position as a leading global tourism destination. Committed to advancing the goals of Saudi Vision 2030 and the National Tourism Strategy, TDF remains a trusted partner, working closely with investors and key stakeholders across the sector. For media inquiries, please contact TDF Corporate Communication team: cc@
Zawya
29-05-2025
- Business
- Zawya
Saudi: Al Kathiri Holding seals $38.13mln lease deal with Aseer Region Municipality
Riyadh – Al Kathiri Holding Company inked a long-term lease contract valued at SAR 143.10 million with the Aseer Region Municipality on 27 May 2025. The agreement aims to invest in a strategic project involving the development and operation of a mixed-use hotel and commercial complex in Ard Al Dhihab, Abha, according to a bourse filing. Located on a land area of 53,000 square meters, the project will cover the construction of a four-star hotel with a capacity of 180 keys. The companies will also establish retail and entertainment facilities, aimed at enhancing the level of tourism and commercial services in the region. The deal aligns with Al Kathiri Holding's strategic plans to diversify its investment portfolio and expand into promising sectors. Within the framework of Saudi Vision 2030, the partnership anchors the company's commitment to long-term sustainable development.
Argaam
27-05-2025
- Business
- Argaam
Aseer welcomes 8M tourists in 2024, eyes 4,000 new hotel rooms: Minister
Minister of Tourism Ahmed Al Khateeb said Aseer region has unique natural and cultural features that qualify it to be an attractive environment for tourism investments. During his participation in the second edition of the Aseer Investment Forum, Al Khateeb said the coming years will witness the addition of approximately 4,000 new hotel rooms to the region, supported by the tourism system.
