SDA x Amana x ASFAR

ASFAR, Eastern Province Municipality, and The Sharqia Development Authority (SDA) forge landmark strategic alliance to revolutionize tourism infrastructure in Al Khobar, advancing the Kingdom’s ambitious Quality of Life Program objectives

• This strategic collaboration exemplifies the transformative vision of the Quality of Life Program, designed to elevate living standards across the Kingdom while creating an immersive ecosystem of cultural and entertainment experiences throughout the region.

RIYADH, Kingdom of Saudi Arabia, November 11, 2024: ASFAR, the Saudi tourism investment company, a PIF Company, today announced the signing of a tripartite strategic agreement with the Eastern Province Municipality and the Sharqia Development Authority (SDA), on the sidelines of Cityscape Global in Riyadh.

The comprehensive agreement aims to transform the tourism and entertainment landscape in the Eastern Province, with a particular focus on Al Khobar. The centerpiece of this initiative is the redevelopment of the "Southern Corniche" into a world-class integrated tourism destination, poised to attract citizens, residents, and international visitors alike.

This strategic collaboration represents a cornerstone of the Kingdom’s broader initiative to revolutionize quality of life standards and enhance service delivery for both citizens and residents, while positioning Saudi Arabia as a premier global tourist destination. The initiative aligns seamlessly with Vision 2030’s core objectives, emphasizing sustainability, exceptional visitor experiences, and strategic investment in emerging destinations.

This ambitious endeavor is set to transform the “Southern Corniche” into a dynamic multifaceted destination, seamlessly integrating entertainment, cultural, and commercial elements. This development is strategically designed to enhance community living standards while maximizing the region’s economic and cultural potential. The initiative stands as a testament to the Quality of Life Program’s commitment to fostering an environment conducive to vibrant social and cultural engagement.

This landmark agreement represents one of several strategic partnerships that Asfar plans to unveil during its participation at Cityscape Global in Riyadh.