Tourism Ministry Sponsors Kerten Hospitality’s Initiative to Establish SAR 1.5 Billion Projects in Saudi Arabia
Riyadh, May 8, 2023, SPA -- The Ministry of Tourism has sponsored “The Collective” initiative launched by Kerten Hospitality, a hotel investment firm, to establish its projects in the Kingdom of Saudi Arabia under one umbrella at a total investment of SAR 1.5 billion.
The announcement represents an important step toward achieving the objectives of the national tourism strategy by developing quality hospitality facilities in the targeted destinations around the Kingdom, the Ministry of Tourism emphasized.
The initiative is the fruit of the Ministry of Tourism’s efforts to support local and international private-sector investors with the aim of enhancing the quality of the facilities in the hospitality sector and stimulating sustainable investments in all targeted tourist destinations.
“We focus our efforts to support the private sector in implementing qualitative projects that enhance the quality of the available service and contribute to promoting a number of tourist destinations and boosting their attractiveness for visitors,” said Mahmoud Abdulhadi, the Deputy Minister of Investment Attraction at the Saudi Ministry of Tourism.
“This comes through developing diverse tourism experiences that reflect the cultural and natural depth of tourist destinations around the Kingdom, while emphasizing the importance of the sustainability of the sector and the implemented projects,” Abdulhadi explained, adding that these projects “benefit our local communities and related companies.”
“The Collective” initiative aims to expedite the activation of unique assets across the Kingdom starting from Asir to Yanbu, Jeddah, Riyadh, Hail and Al-Jawf. The initiative will increase investor confidence to invest in the prosperous hospitality market and enhance cooperation in line with the national tourism strategy.
Kerten Hospitality seeks to ensure integration of the new projects and promote cooperation between investors and the ministries and government authorities.
This enhances the importance of developing projects, providing confidence to investors willing to access the sector and supporting the development of more qualitative projects in the tourism sector.
The group will also work to enrich the experience of tourists and visitors and inspire travelers to explore its services in the Kingdom.