PIF announces new Saudi Tourism...

Asfar will invest in projects in cities across Saudi Arabia

The Public Investment Fund (PIF) has established Asfar, a Saudi Tourism investment company aimed at supporting the growth of the country’s tourism sector.

Asfar will support the private sector by creating opportunities for local suppliers, contractors and small and medium-sized enterprises (SMEs) to develop tourism projects and destinations within the country.

The company will seek to attract domestic and international tourists to a wide range of destinations and contribute to the national target of welcoming 100 million visitors per year by 2030.

PIF head of entertainment, Leisure and Sport sector in MENA Investments, Mishary Alibraheem said: “Asfar will activate the role that Saudi Arabia’s cities play in supporting the national economy.

"The creation of the company is in line with PIF’s strategy to create opportunities in the tourism sector and reinforce strategic partnership opportunities with the private sector, creating jobs and diversifying sources of income for the local economy in line with Saudi Vision 2030.”

For more information, visit www.pif.gov.sa