SAR 1.5 billion investment fund launched in the hotel sector

Investment fund

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His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, attended the fifth edition of the Future Investment Initiative, which was held recently in Riyadh, with the participation of a number of global CEOs, investors and decision makers, and participated in the special dialogue session of Greek Prime Minister Kyriakos Mitsotakis held during the forum.

His Royal Highness attended the fifth edition of the Future Investment Initiative, which was held recently in Riyadh.

The events of the Future Investment Initiative included the Tourism Development Fund signing a memorandum of understanding with Ennismore to discuss the launch of an investment fund with a capital of 1.5 billion riyals to develop more than 12 hotels in the Kingdom in the category of “Lifestyle”, which targets fans of leisure tourism and offers a variety of entertainment facilities and distinctive dining experiences, under the patronage of H.E. Mr. Ahmed bin Aqeel Al-Khatib, Minister of Tourism and Chairman of the Board of the Tourism Development Fund.

The event was held in Riyadh.

The fifth edition of the initiative, titled "Investing in Humanity," brought together leaders, companies, policymakers, investors and innovators from around the world in a global forum to explore and realize pioneering solutions that address society's challenges.

The three-day initiative, which took place from October 26-28, 2021, included interactive summits on investing in education and the Metaverse.