Saudi Arabia is investing millions into diversifying its economy and enhancing the tourism sector under its Vision 2030. Most recently, Saudi Arabia’s Public Investment Fund (PIF) launched a new hospitality management company, Adeera, part of KSA’s broader strategy to position itself as a global tourism destination.

Adeera will develop and manage hotels across various categories, from mid-range to ultra-luxury, while fostering local talent and expertise through training programs in collaboration with international hospitality specialists, PIF said in a statement.

The new company plans to introduce distinctive Saudi hotel brands tailored to diverse visitor segments, while also working with local hotel developers to boost private-sector participation in the industry.

Khalid Johar, Co-Head of the Local Real Estate Portfolio at PIF, said, “The launch of Adeera comes at a pivotal time when Saudi Arabia is expanding its hospitality and tourism offerings. The company has the opportunity to grow the sector by introducing new hotel brands as the country is establishing itself as a major tourism destination.”

Adeera’s creation reinforces PIF’s role as a catalyst for economic growth and diversification in Saudi Arabia’s strategic sectors, including tourism and real estate. The fund has already invested in other tourism ventures, such as the Boutique Group, which converts historic palaces into luxury hotels, the agri-tourism company Dan, and the tourism-focused investment firm Asfar.

Saudi Arabia’s National Tourism Strategy aims to attract 150 million visitors and increase tourism’s contribution to GDP to 10% by 2030. Adeera is expected to play a key role in achieving these goals, PIF noted.