PIF launches Adeera: A new chapter for Saudi Arabia’s hospitality sector

SAUDI ARABIA – Saudi Arabia’s Public Investment Fund (PIF) has announced the launch of Adeera, a hotel management company designed to strengthen the country’s tourism and hospitality sector.

This move aligns with Saudi Arabia’s Vision 2030 initiative, which aims to diversify the economy by reducing reliance on oil revenues and positioning the nation as a global tourism destination.

Adeera’s focus is on creating a portfolio of hotel brands that will reflect Saudi Arabia’s unique cultural heritage while meeting global hospitality standards.

These brands will cater to a wide range of visitors, spanning mid-range accommodations to luxury stays.

Khalid Johar, co-head of the local real estate portfolio at PIF, emphasized the importance of this initiative, stating, “Adeera is set to enrich the hospitality landscape with offerings that are distinctively Saudi, while raising service quality to an international level.”

In addition to attracting international visitors, Adeera plans to foster local talent through training programs and skill development initiatives.

This approach will not only improve service standards but also generate employment opportunities for Saudis, further contributing to the nation’s economic goals.

Supporting vision 2030 goals

Saudi Arabia’s National Tourism Strategy aims to increase tourism’s contribution to GDP to over 10% by 2030 and create one million jobs in the sector.

With a target of 150 million annual visitors, initiatives like Adeera are essential to achieving these objectives.

The strategy also highlights the importance of preserving cultural heritage through festivals, museums, and archaeological sites, which will likely feature prominently in Adeera’s offerings.

Additionally, the government has introduced reforms to facilitate tourism, including an e-visa system that simplifies travel for international visitors.

These measures, combined with major projects such as NEOM and the Red Sea Project, are expected to position Saudi Arabia as a competitive player in the global tourism industry.

Adeera aims to work closely with local hotel developers and encourage private sector participation, thereby unlocking business opportunities for Saudi entrepreneurs.

This collaboration will also help diversify the hospitality market, ensuring that international brands coexist with uniquely Saudi offerings.

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