The Saudi Arabia Tourism Development Fund (TDF) and Seera Group have signed a financing agreement to establish and operate the Raghadan Tourist Resort.
Authorities hope it will become the first sustainable tourism project in the Al Baha region, one of the main investment destinations identified under a local tourism strategy.
The agreement was signed by Qusai Al-Fakhri, chief executive of TDF, and Majed Al Nefaie, chief executive of Seera Group.
Al-Fakhri expressed his happiness with the support that the project, located in the famous Raghadan park, has received from Hussam bin Saud bin Abdulaziz Al Saud, governor of Al Baha Region, and the ministry of municipal, rural affairs and housing, represented by the Al Baha Municipality.
Al-Fakhri also expressed his confidence in Seera Group and its capabilities to develop the project – which aims to attract domestic and international tourists – to the highest engineering and environmental standards.
Al Nefaie said: “Developing tourist destinations based on unique experiences will be an important priority for the Saudi tourism sector over the coming years.
“We believe that this project will make Al Baha an attractive destination for holidays, recreational activities, meetings, exhibitions and conferences.”
Under the partnership, Seera Group will develop a “world-class sustainable tourism development” stretching across an area of 50,000 square meters that aims to ensure the preservation of the Al Baha region and its social, environmental, and economic sustainability.