In a new chapter of national transformation, the Saudi Tourism Investment Company (ASFAR) – a Public Investment Fund (PIF) company – announced a new phase of its strategic tourism investments through promising tourism development projects in Al Baha and Yanbu. These initiatives represent a defining step in ASFAR’s journey to drive growth and transformation within Saudi Arabia’s tourism sector.
This new phase reflects ASFAR’s commitment to its national role in empowering tourism investment and strengthening the sector’s position as a key driver of economic diversification. Through pioneering projects, ASFAR continues to extend tourism development into new regions across the Kingdom, where investment opportunities are shaped by the uniqueness of place and the engagement of local communities.
As the national enabler of tourism investment, ASFAR focuses on shaping destinations with distinctive identities in promising cities, laying the foundation for a new generation of landmark establishing the foundation for a new generation of tourism projects.
ASFAR announced two major projects that will define this new phase, both scheduled to open in 2026:
Gamra Adventure Park – Al-Baha
Developed by Jabal Khaira, a subsidiary of ASFAR, this landmark destination is inspired by the region’s natural terrain and environment to create a unique tourism and adventure experience, while empowering the local community to play an active role in building a sustainable tourism sector.
Kaynouna Beach Club – Yanbu
Developed by Baheej, a subsidiary of ASFAR and the Tamimi-AWN Alliance, this coastal project blends authentic local identity with dynamic beach and leisure activities, delivering a holistic destination that embodies the energy and spirit of the coast.
ASFAR also announced the establishment of JABA, a destination management company (DMC) under Baheej. JABA will serve as ASFAR’s operational arm, managing tourism destinations and providing specialized, high-quality services. This integrated operational model transforms investment into a sustainable tourism experience and raises operational efficiency across the sector.
These announcements reinforce ASFAR’s position as a leading national investment arm, driving the creation of new Saudi destinations and activating strategic public-private partnerships that unlock new opportunities in hospitality, entertainment, and specialized tourism experiences.
