Tourism Development Fund’s major agreements at TOURISE 2025 also include a sustainable Riyadh hotel and a heritage-focused Jeddah partnership, advancing the Kingdom’s Vision 2030.
RIYADH – In a significant move to expand its sustainable tourism offerings, the Saudi Tourism Development Fund (TDF) sealed deals worth more than SR700 million ($186.6 million) during the TOURISE 2025 forum.
The signings highlight a strategic drive to create destinations that merge luxury with ecological and social responsibility, directly supporting the Kingdom’s Vision 2030 economic diversification agenda.
The centerpiece of the announcements is the Basqat Mantis project in the AlUyaynah area. Slated to be the largest resort under the Mantis brand globally, it will comprise over 218 culturally inspired accommodations, including hotel rooms, villas, and luxury tents. The project, developed by a GIB Capital-managed fund and Design and Build Co., is designed to immerse guests in Saudi heritage while adhering to premier sustainability standards.
Complementing this, a new agreement with Al Ikhtiyar for Real Estate Co. will bring the Earth hotel to Riyadh. This project promises a modern take on sustainable hospitality, featuring co-working spaces, creative areas, and fitness centers alongside its signature restaurant, Earth Brasserie.
Adding a heritage dimension, the TDF also signed a strategic MoU with Al Balad Development Co. This partnership will focus on enabling private sector investment within historic Jeddah, aiming to harness the area’s rich cultural legacy for tourism growth.
Collectively, these initiatives mark a continued push by the Fund to position Saudi Arabia as a leader in competitive, community-integrated, and environmentally conscious tourism.
