Riyadh – Sharikat Mubasher: Saudi Ministries of Investment and Tourism have approved the first batch of projects under the Hospitality Investment Enablers Program, covering 19 projects across five tourism destinations with a combined investment value of SAR 6.7 billion.

As per a recent press release, the announcement was made during a joint event attended by Minister of Tourism Ahmed Al-Khateeb and Minister of Investment Fahad Al-Saif.

The projects are expected to create more than 17,000 jobs by 2030 and contribute SAR 2.4 billion annually to gross domestic product (GDP). They are also projected to generate more than SAR 5.3 billion locally through increased demand for local goods, services, and materials.

The approved projects are expected to add more than 3,000 hotel rooms to Saudi Arabia’s tourism offerings, with around 40% located in coastal destinations.

The first projects are scheduled to begin operations by the end of 2026, while the remaining developments are expected to open gradually through 2029. All projects are planned to be fully operational before major events hosted by the Kingdom, including Expo 2030 Riyadh and the 2034 FIFA World Cup.

The program, led by the two ministries, aims to enable private-sector investment in hospitality projects across the Kingdom’s tourism destinations.