Monday, December 11, 2023
Today, the Public Investment Fund (PIF) has unveiled its latest venture, the formation of “Dan Company,” a specialized entity dedicated to agritourism and ecotourism initiatives. Dan’s mission revolves around crafting distinctive tourism projects in various Saudi Arabian cities, showcasing captivating natural landscapes and cultivated environments. The overarching goal is to engage local communities in offering immersive experiences that harmonize with the rich tapestry of Saudi regional culture and traditions, encompassing arts, crafts, indigenous cuisines, and heritage.
Agritourism pertains to visitor encounters rooted in traditional farming practices, while ecotourism emphasizes a deep connection with nature, coupled with environmental stewardship.
As a catalyst for local empowerment, Dan’s undertakings will empower farmers and tourist lodge operators by granting franchises and equipping them with essential training and knowledge to establish and expand their own facilities. Furthermore, the company will unlock investment prospects for the private sector, thereby fostering both direct and indirect employment opportunities.
Dan’s inaugural project is set to take root in the expansive Al-Ahsa region, spanning 1.8 million square meters. This ambitious endeavor will encompass an eco-resort, an agri-resort, and an adventure resort, each tailored to cater to distinct niches within the tourism sector. These ventures aim to deliver unparalleled visitor experiences, aligning with the diverse preferences of tourists.
The agritourism resort will spotlight Al-Ahsa’s exceptional agricultural produce, particularly its renowned rice and dates. Guests will be immersed in hands-on encounters with the land and nature, involving seasonal farming, harvesting, and cooking with farm-sourced ingredients, emphasizing the journey from field to plate.
Conversely, the eco-resort and adventure resort will revolve around connecting and interacting with the surrounding landscapes. The eco-resort will prioritize the use of locally sourced, low-emission materials to preserve the region’s unique flora and fauna. Meanwhile, the adventure resort will offer captivating, environmentally-friendly activities such as horseback riding, stargazing, and scaling the nearby rocky terrain.
Dan is projected to contribute approximately $1.6 billion (SAR 6 billion) to Saudi Arabia’s non-oil GDP by 2030, as it expands its presence to other locales. This contribution aligns with the Vision 2030 objectives to diversify the economy and amplify the contribution of cities to the Saudi GDP.
Khalid Johar, Co-Head of the Local Real Estate Portfolio Department at PIF, remarked, “The establishment of Dan Company encapsulates one element of PIF’s strategy to further strengthen tourism. It will boost economic development and contribute to national economic growth. The company will operate novel business models that integrate sustainability and embrace nature, involving the private sector and local farmers in agritourism and ecotourism. The establishment of Dan will also contribute to the creation of new job opportunities in local communities and the promotion of unique immersive experiences that engage and entertain visitors.”
In addition to Dan Company, PIF’s portfolio includes several strategic investments aimed at fortifying Saudi tourism and invigorating urban economies across the nation. These ventures encompass the Soudah Development project, destined to create a year-round luxury mountain tourism resort in the Aseer region; Boutique Group, dedicated to transforming historical palaces into opulent boutique hotels; and Saudi Downtown Company, with its mission to establish and cultivate urban centers throughout Saudi Arabia.
Tags: Dan Company, Saudi
Monday, January 1, 2024
