Tourism Fund, Fakieh Group sign MoUs to set up 2 projects in Taif, Jeddah

The Tourism Development Fund (TDF) signed two memorandums of understanding (MoUs) with Fakieh Group to establish two mega tourism projects in Taif and Jeddah.
 

The signing ceremony was held at the fund's headquarters in Riyadh.
 

Under the first MoU, a project that will be the first of its kind will be established in Taif on a land plot of more than 165,000 square meters.
 

The project will comprise a resort and a five-star, 200-bed hotel, a group of restaurant brands, and entertainment zones.
 

Meanwhile, both parties under the second MoU will develop Al-Nawras Island on Jeddah Corniche to become a beachfront that features entertainment facilities, bay walk for visitors, restaurants, yachts club and a marina.