Loans of 100 million riyals for investors in tourist accommodation

A workshop at the Chamber of Commerce and Industry in Abha revealed yesterday that loans amounting to 100 million riyals were provided to investors in the tourism accommodation sector. The workshop, which was moderated by the Secretary-General of the Chamber, Dr. Riyad Al-Aqran, was held with the participation of His Royal Highness Prince Saud bin Nahar bin Saud – Undersecretary of the Ministry of Tourism for activating tourism in the regions, Mahmoud Abdel-Hadi – Undersecretary of the Ministry of Tourism to attract investment, Ahmed Barja – Director of mountain areas in the General Authority for Entertainment, and Muhammad Saad Al-Qahtani – Chairman of the Tourism Committee of the Abha Chamber, and Mahdi Al-Hadban – representative of the Abha Chamber in the Council of Saudi Chambers.

At the beginning of the workshop, Al-Qahtani reviewed the most prominent investment opportunities in the Asir region in terms of tourism, accommodation and hospitality, pointing out that the region possesses a tourism wealth represented in heritage resources (cultural and natural scenic), equipment and facilities in the field of tourism services, components and capabilities.

The participants discussed the mechanisms of cooperation of the Ministry of Tourism with the emirates of the regions and other ministries to activate investment opportunities for tourism and accommodation through lending programs for tourism and hotel projects and providing soft loans to investors in the accommodation sector, especially in the governorates and cities, noting that loans amounting to 50% of the project cost in amounts up to 100 million riyals.

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