Tourism Development Fund signs hotel project financing agreement within Ajdan Waterfront

15/06/2021 Argaam

Signing of the agreement

Saudi Arabia’s Tourism Development Fund signed a financing agreement with Ajdan Real Estate Development Co. to finance a five-star hotel, as part of the Ajdan Waterfront project in Al Khobar.

 

The project is the first to be supported by the fund in the Eastern Province, Saudi Press Agency (SPA) reported, citing the fund.

 

The project consists of a 20-storey hotel with a view of the Arabian Gulf, and complements the Ajdan Waterfront project, which includes a variety of facilities such as the Ajdan Walk, as well as a chain of restaurants, international retailers, entertainment cinema complex, and a tower with 192 luxury housing units.

 

Fairmont international brand was selected to manage the hotel, the fund noted.

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