Chairman of the Board
We invest in developing
the Saudi destination
From the mountains to the coast
The Mountains
About
ASFAR
Saudi Tourism
Investment Company
Investing
through partnership.
ASFAR invests across promising Saudi cities, with private-sector partnership at the core of its investment model, enabling access to destination-development opportunities and supporting the creation of sustainable entities.
Our
Vision
Vision & Mission
To be the national leader in tourism investment — unlocking high-value opportunities and delivering sustainable financial returns through efficient investment and by energising private-sector participation.
Philosophy & Role
We invest in developing the Saudi destination across promising cities from an investment perspective — spanning assets, services and tourism activities — to build an integrated value chain that connects every component of the visitor experience.
Our Model
ASFAR’s investment model rests on co-investment with the private sector across the Kingdom’s promising cities — enabling its access to investment opportunities and building joint investment entities together.
Investment Impact
1.1B SAR
Total Investment Value
8 Projects
Tourism Projects in
Design & Execution
339K M²
Total Area Under
Development
570 Rooms
Total Rooms Under
Development
ASFAR Investment Portfolio
Strategic
Investments
ASFAR invests across a number of sectors to support the development of tourism destinations in promising cities and strengthen their readiness for growth.
Hospitality Management & Operations
Food & Beverage
Catering & Food Supply Services
Tourism Experience Design & Operations
Destination Management & Activation
Transport Services
Hospitality Supply & Equipment
Laundry & Hotel Operations
News & Press Releases
20 March 2025
ASFAR Recognized as the Best New Tourism Investment Company – Saudi Arabia 2024
10 March 2025
The Evolving Role of the CFO: From Financial Steward to Strategic Leader
13 February 2025
ASFAR Partners with IHCC to Launch Taif Botanical Retreat Destination
12 February 2025
ASFAR Signs Partnership Agreement with Al Ojaimi Holding to Launch an Urban Resort in Hail
19 November 2024
ASFAR Signs Landmark MoU with Hail Region Development Authority to Transform Hail’s Tourism Landscape
12 November 2024
ASFAR Signs Strategic MoU with Ministry of Municipalities and Housing to Transform Public Spaces Across Saudi Arabia
11 November 2024
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
11 November 2024
ASFAR and Sharqia Development Authority Sign Strategic Agreement at Cityscape Global to Revitalize Al Khobar’s Tourism with Baheej Tourism Development Company
18 August 2024
Opinion Piece: Cultural Treasures Unveiled: Saudi Arabia’s Odyssey of Heritage Legacy and Global Engagement
5 June 2024
Baheej Tourism Development Company Unveils First Tourist Destination in Yanbu City
26 May 2024
The Heritage Commission signs MoU with ASFAR, the Saudi Tourism Investment Company, to revive cultural heritage sites in the Kingdom
1 May 2024
ASFAR Announces Baheej and Kerten Hospitality Partnership to Elevate Integrated Living in Yanbu
30 April 2024
Spearheaded by ASFAR: Baheej signs Investment Agreements with the Royal Commission for Yanbu at the Future Hospitality Summit Saudi Arabia 2024
30 April 2024
ASFAR Announces KMC & Mantis Partnership at Future Hospitality Summit in Riyadh
26 September 2023
Asfar and Tamimi-AWN Alliance Inaugurate Baheej to Contribute in Shaping Saudi Tourism at Future Hospitality Summit
13 September 2023
ASFAR, Municipality of Al-Baha Sign MoU to Develop World Class Mountain Tourism Projects
18 August 2023
Opinion Piece: The Saudi Tourism Revolution: what makes the Kingdom poised to be the next global tourist hotspot?
12 August 2023
ASFAR Announces Three-Season Sponsorship Deal with Al-Hilal Club
7 July 2023
PIF Announces Establishment of Saudi Tourism Investment Company “ASFAR”
The ASFAR Team
Board of Directors, executive committees and the leadership team.
Vice Chairman of the Board
Board Member
Board Member
Board Member
Board Member
Chief Executive Officer
Executive Director of Asset Management
Chief Shared Services Officer
Executive Director of Governance, Risk & Compliance (GRC)
Internal Audit Executive Director
Chief Strategy Officer
Investment Committee Vice Chairman
Investment Committee Member
Audit Committee Chairman
Audit Committee Member
NRC Chairman
NRC Member
NRC Member
Our
Partners
Frequently
Asked
Questions
The Saudi Tourism Investment Company (ASFAR), wholly owned by the Public Investment Fund, specialises in investing in the development of tourism destinations across promising Saudi cities — building on the significant opportunities and latent potential these cities hold.
To be the national leader in tourism investment — unlocking high-value opportunities and delivering sustainable financial returns through efficient investment and by energising private-sector participation.
ASFAR’s investments rely on partnership with the private sector as the core of its investment model — enabling it to enter destination-development opportunities and build sustainable entities.
ASFAR’s investment model rests on co-investment with the private sector across the Kingdom’s promising cities — enabling its access to investment opportunities and building joint investment entities together.
ASFAR invests across a number of sectors to support the development of tourism destinations in promising cities and strengthen their readiness for growth.