Riyadh: On the second day of its participation in TOURISE Forum 2025, the Tourism Development Fund, the Kingdom’s national enabler for the tourism sector, witnessed the signing of strategic agreements worth over SAR700 million. The agreements reflect the fund’s ongoing strategy and commitment to developing integrated tourism destinations that uphold sustainability and governance principles through projects that focus on natural resource management and local community contributions, thereby enhancing the visitor experience and boosting the competitiveness of the tourism sector in line with Saudi Vision 2030.

According to Saudi Press Agency, the announcement of the Baseqat Mantis project in the Al-Uyaynah area was made through a fund managed by GIB Capital, in partnership with Design and Build Co. as the project developer. The project is set to become the largest Mantis resort in the world, featuring over 218 hotel rooms, villas, and luxury tents inspired by Saudi culture, offering a comprehensive hospitality experience that highlights Saudi heritage and strengthens the presence of sustainable tourism as part of the Kingdom’s tourism offering.

Moreover, the fund announced the signing of an agreement to develop the Earth Hotel in Riyadh. The hotel will present a contemporary model of sustainable hospitality that blends modern design with Saudi authenticity, featuring co-working spaces, creative zones, fitness centers, and a restaurant. The project aims to foster a balanced hospitality environment that enhances community experience and aligns with the Kingdom’s direction toward developing hotels that elevate the quality of the visitor and community experience.

Additionally, the fund signed a strategic memorandum of understanding (MoU) with Al Balad Development Company (BDC) to explore opportunities for collaboration in supporting and enabling private-sector projects within the Historic Jeddah District, contributing to highlighting the region’s heritage and leveraging it for tourism sector development.