Riyadh - Mubasher: Saudi Arabia-based Tourism Development Fund (TDF) has inked a Memorandum of Understanding (MoU) with Melia Hotels International, a hotel group specialised in the leisure segment, to develop new tourism concepts in the Kingdom.
Under the agreement, the two entities will launch new projects on leisure, food and beverages, and entertainment in Riyadh, Jeddah, and the Eastern Province, according to a press release on Wednesday.
TDF and Melia Hotels International will develop tourism destinations in the three destinations, with a total project value of more than SAR 1 billion ($266.5 million).
Hence, this step will enable TDF to contribute to the objectives of the National Tourism Strategy and improve the quality of life for residents and tourists.
The CEO of TDF, Qusai Al Fakhri, said: "Here at TDF, we always strive for sector growth and prosperity through MoUs and partnerships that will provide outstanding experiences and services, ultimately enhancing the Kingdom’s overall tourism value proposition."
Meanwhile, the CEO and Vice Chairman of Melia Hotels International, Gabriel Escarrer, commented: "We are committed to developing these three projects according to the highest international standards and in line with the Kingdom’s distinct identity on the world stage."
