The Saudi Tourism Investment Company (ASFAR), a subsidiary of the Public Investment Fund (PIF), has announced a new phase of its tourism investment strategy with development projects in Al Baha and Yanbu, marking a significant step in its mission to accelerate growth across Saudi Arabia’s tourism sector.

The initiative highlights ASFAR’s role in strengthening tourism as a pillar of the Kingdom’s economic diversification. By expanding tourism development into new regions, the company aims to create destinations characterized by local culture and community engagement.

As part of this phase, ASFAR revealed two major projects scheduled to open in 2026. Gamra Adventure Park, located in Al Baha and developed by ASFAR subsidiary Jabal Khaira, will utilize the region’s natural landscapes to provide adventure and eco-tourism experiences while promoting local participation.

Meanwhile, Kaynouna Beach Club in Yanbu, developed by Baheej, ASFAR’s joint venture with the Tamimi-AWN Alliance, will feature beach and leisure attractions that reflect the area’s coastal identity.

ASFAR also announced the launch of JABA, a destination management company under Baheej. JABA will oversee operations across ASFAR’s portfolio, enhance service quality, and promote sustainable tourism practices.

These developments underscore ASFAR’s ongoing commitment to supporting tourism investment in Saudi Arabia, promoting new destinations, and facilitating public-private partnerships to expand opportunities in hospitality, entertainment, and tourism services.