Eastern Province Municipality, Sharqia Development Authority, and ASFAR Sign Tripartite MoU to Enhance Tourism Investment in Al Khobar
Ahmed Bin Abdulqader
In a strategic move to bolster the Kingdom’s tourism ambitions, the Eastern Province Municipality and the Sharqia Development Authority (SDA) have signed a tripartite Memorandum of Understanding (MoU) with ASFAR, the Saudi tourism investment company, a PIF Company, on the sidelines of Cityscape Global in Riyadh. The MoU was signed in the presence of Khalid Al-Baker, CEO of the Quality of Life Program, with an aim to enhance tourism investment in the city of Khobar and support the overarching objectives of the Quality of Life Program across the Kingdom.
HE Fahad bin Mohammed bin Othman Al-Jubeir, Mayor of the Eastern Province, along with Eng. Omar bin Saleh Al-Abdullatif, CEO of Sharqia Development Authority, and Dr. Fahad bin Mushayt, CEO of ASFAR, formalized the landmark partnership. This strategic alliance aligns seamlessly with the Kingdom’s Vision 2030 and the Quality of Life Program’s core objectives, which seek to elevate community living standards and create an enriching ecosystem of cultural and entertainment experiences.
The memorandum 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 tripartite 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.
