{"id":60490,"date":"2026-01-28T13:38:12","date_gmt":"2026-01-28T10:38:12","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=60490"},"modified":"2026-01-28T13:38:16","modified_gmt":"2026-01-28T10:38:16","slug":"tourism-development-fund-signs-mous-king-abdullah-economic-city","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/tourism-development-fund-signs-mous-king-abdullah-economic-city\/","title":{"rendered":"Tourism Development Fund Signs Two MoUs to Enable High-Quality Tourism Projects in King Abdullah Economic City"},"content":{"rendered":"<p class=\"wp-block-paragraph\">The Tourism Development Fund (TDF), Saudi Arabia&#8217;s national enabler of the tourism sector, has signed two memoranda of understanding (MoUs) to accelerate the development of high-quality tourism projects in King Abdullah Economic City (KAEC). The agreements, announced on January 28, 2026, align with the Fund&#8217;s vision to enable tourism investments that contribute to achieving the objectives of the National Tourism Strategy and Saudi Vision 2030.<\/p>\n\n<p class=\"wp-block-paragraph\">These strategic partnerships form part of the Tourism Development Fund&#8217;s efforts to enhance the positioning of King Abdullah Economic City as a leading global destination on the Red Sea coast, while attracting expertise and capital to strengthen the competitiveness of Saudi Arabia&#8217;s coastal destinations.<\/p>\n\n<h2 class=\"wp-block-heading\">Strategic Partnership with Emaar Economic City<\/h2>\n\n<p class=\"wp-block-paragraph\">The principal MoU was signed between the Tourism Development Fund and Emaar, The Economic City (EEC), the master developer of KAEC. The agreement establishes a comprehensive framework supporting the planning, development, and operation of high-quality tourism projects that strengthen the city&#8217;s positioning as a fully integrated, world-class coastal destination on the Red Sea.<\/p>\n\n<p class=\"wp-block-paragraph\">The collaboration includes developing a diversified portfolio of coastal projects encompassing all-inclusive resorts, global hotel brands, and lifestyle destinations designed to serve diverse visitor segments, including beach tourism, travel experiences, and family-oriented offerings.<\/p>\n\n<h2 class=\"wp-block-heading\">Project Portfolio and Development Plans<\/h2>\n\n<p class=\"wp-block-paragraph\">The MoU outlines an ambitious development plan that includes two five-star beachfront resorts, premium branded residences operated by international hospitality operators, waterfront access, beach clubs and signature dining experiences, spa facilities, yachting and water-sports activities, family destinations and children-focused experiences, as well as entertainment offerings. These projects aim to enhance destination appeal, improve quality of life, and support the attraction of foreign direct investment to the city.<\/p>\n\n<h2 class=\"wp-block-heading\">Collaboration with K. Hovnanian M.E. Investments<\/h2>\n\n<p class=\"wp-block-paragraph\">In a second agreement, the Tourism Development Fund signed an MoU with K. Hovnanian M.E. Investments and Emaar, The Economic City. K. Hovnanian M.E. Investments is one of the leading real estate development companies in the United States, with extensive experience in developing mixed-use residential and tourism projects under advanced development and operating models.<\/p>\n\n<p class=\"wp-block-paragraph\">The MoU seeks to leverage the company&#8217;s expertise as an investor and developer of tourism projects in KAEC, supporting project investment readiness and the attraction of operators, while ensuring alignment with the National Tourism Strategy and global best practices.<\/p>\n\n<h2 class=\"wp-block-heading\">Leadership Perspectives on Tourism Growth<\/h2>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;These MoUs reflect the Fund&#8217;s commitment to its role as a national enabler of the tourism sector, through aligning public- and private-sector efforts and building strategic partnerships that support the development of high-quality tourism projects and enhance the participation of local and international private-sector stakeholders in developing coastal destinations and all-inclusive beach resorts across Saudi Arabia.&#8221;<\/p><cite>Qusai Al-Fakhri, Chief Executive Officer of the Tourism Development Fund<\/cite><\/blockquote>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;The MoU between King Abdullah Economic City and the Tourism Development Fund, in collaboration with K. Hovnanian M.E. Investments, reflect our strong commitment to supporting the growth of the tourism and hospitality sectors, which offer significant potential. These partnerships build on the city&#8217;s accelerated development momentum and its growing stature as an integrated coastal destination.&#8221;<\/p><cite>Abdulaziz Alnowaiser, CEO of Emaar, The Economic City<\/cite><\/blockquote>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;We are pleased to collaborate with the Tourism Development Fund and Emaar, The Economic City, to explore tourism development opportunities in Saudi Arabia. This memorandum provides an important framework for knowledge exchange and joint development of projects aligned with global best practices.&#8221;<\/p><cite>Robert Hofmann, Chief Executive Officer of K. Hovnanian M.E. Investments<\/cite><\/blockquote>\n\n<p class=\"wp-block-paragraph\">Through its strategic partnerships, the Tourism Development Fund continues to strengthen Saudi Arabia&#8217;s tourism investment ecosystem and reinforce the positioning of its destinations as global hubs for high-quality tourism projects, contributing to the realization of Vision 2030 objectives.<\/p>","protected":false},"excerpt":{"rendered":"<p>Tourism Development Fund signs two strategic MoUs to accelerate high-quality tourism development in King Abdullah Economic City, strengthening Saudi Arabia&#8217;s position as a leading Red Sea destination.<\/p>\n","protected":false},"author":8,"featured_media":60489,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":516,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24,516],"tags":[1180,1178,1179,140,1177],"class_list":["post-60490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-tourism","tag-emaar-economic-city","tag-king-abdullah-economic-city","tag-red-sea-tourism","tag-saudi-vision-2030","tag-tourism-development-fund","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tourism Development Fund MoUs for KAEC | Saudi Shopper<\/title>\n<meta name=\"description\" content=\"Tourism Development Fund signs two MoUs with Emaar Economic City and K. 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