Saudi Arabia’s Tourism Development Fund (TDF) has announced plans to develop a multi-use resort on Half Moon Beach in the kingdom’s Eastern Province at an investment of SAR1.4 billion ($372 million).
Spanning over a 262,000-sq-m area, the project will be operated under the Rixos brand and fully managed by global hospitality leader Accor.
On completion, it will boast 400 hotel rooms and 41 residential villas in addition to a variety of restaurants, cafés and entertainment facilities, thus positioning it as the first all-inclusive coastal resort in the Eastern Province.
Funded by the Tourism Development Fund and supported by foreign investment from FTG International Group, the project aligns with Saudi Arabia’s national tourism strategy.
It seeks to enhance the quality of life in the region, contribute to the Kingdom’s GDP, and strengthen tourism offerings in the Eastern Province, said Prince Saud bin Naif bin Abdulaziz, the Governor of the Eastern Region, at a key meeting held in Dammam.
It was attended by key project stakeholders, including Eastern Region Mayor Eng Fahad Al Jubeir; Eastern Region Development Authority CEO Eng. Omar bin Saleh Al Abdullatif; Ashraq Development Company CEO Eng. Zaki bin Hassan Al Omran; TDF Head of the Business Sector Naif Al Madi; National Water Company Head (Eastern Sector) Eng. Adel Al Ghamdi and FTG International Group Executive Director Fatih Tamince.
During the meeting, Prince Saud was briefed on the key tourism and entertainment project coming up on Half Moon Beach.
Lauding his support for the project, Al Jubeir said it was a significant one and this collaboration among stakeholders will help advance such transformative tourism initiatives.
