Saudi Arabia’s Public Investment Fund (PIF) has unveiled the creation of “Dan Company,” a new venture focused on the burgeoning sectors of agritourism and ecotourism.
The enterprise is poised to roll out an array of distinctive tourism projects that will be strategically located around various Saudi Arabian cities, each chosen for their appealing natural and agricultural vistas, the statement elaborated.
Dan’s mission is to foster deep engagement with the local communities and to provide immersive experiences that allow visitors to interact intimately with the unique cultural tapestry of the different regions of Saudi Arabia. This includes a rich array of arts, crafts, and local culinary delights.
The concept of agritourism is anchored in offering visitor experiences that are intimately tied to traditional agricultural life, whereas ecotourism is geared towards immersing visitors in nature and advocating for a minimal environmental footprint.
Dan’s initiatives are designed to empower local communities by offering new experiences to both Saudi and international visitors. This includes awarding franchises to agriculturalists and operators of tourist lodges, who will be equipped with the necessary training and knowledge to launch and grow their own enterprises. Additionally, Dan will be unlocking investment opportunities for the private sector and catalysing the creation of a multitude of direct and indirect job opportunities.
The inaugural project of Dan will take root in the Al-Ahsa region, covering an expansive area of 1.8 million square metres. It will be a triad of resorts: an eco-resort, an agri-resort, and an adventure resort, each crafted to cater to a specific segment of the tourism market. These resorts will offer unparalleled visitor experiences and a diverse array of offerings aimed at satisfying the broad spectrum of tourist expectations.
The agri-resort will pay homage to Al-Ahsa’s unique agricultural products, particularly its renowned rice and dates. It will offer visitors a range of interactive activities such as hands-on farming, harvesting, and culinary experiences that highlight the journey from field to plate.
Conversely, the eco-resort and adventure resorts will facilitate a deeper connection with the natural environment. The eco-resort is planned to be constructed with locally sourced materials that ensure low carbon emissions and preserve the native flora and fauna. The adventure resort, on the other hand, will offer a suite of eco-friendly activities including horse riding, star-gazing, and rock climbing in the nearby hills.
The company is also projected to make a significant economic impact, contributing approximately $1.6 billion (SAR 6 billion) to Saudi Arabia’s non-oil GDP by 2030 as it expands its footprint. Dan is set to bolster the Vision 2030 objectives which include diversifying the economy and enhancing the contribution of urban economies to the national GDP.
Dan’s establishment is set to generate new employment opportunities within local communities and promote distinctive, engaging experiences for visitors…”
Khalid Johar, the co-head of the Local Real Estate Portfolio Department at PIF, remarked: “The formation of Dan Company is a strategic component of PIF’s agenda to enhance the tourism sector’s strength. It is anticipated to spur economic development and add to the nation’s economic prosperity. The company’s innovative business models will amalgamate sustainability with a celebration of nature, drawing in private sector participation and local agriculturists into the realms of agritourism and ecotourism. Moreover, Dan’s establishment is set to generate new employment opportunities within local communities and promote distinctive, engaging experiences for visitors.”
PIF’s investment portfolio comprises a number of strategic ventures aimed at fortifying the tourism sector and augmenting the economies of cities throughout Saudi Arabia. These ventures include the Soudah Development, poised to establish a premier mountain tourist resort that operates year-round in the Aseer region; the Boutique Group, which is transforming historical palaces into opulent boutique hotels; and the Saudi Downtown Company, tasked with the creation and urbanization of city centers throughout the nation.
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