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PIF-backed agritourism brand ‘Solan’ announced

PIF-backed agritourism brand ‘Solan’ announced
By merging agriculture, eco-tourism, and adventure with hospitality, Solan aims to strengthen the foundation of the national tourism industry. Supplied
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Updated 29 September 2025

PIF-backed agritourism brand ‘Solan’ announced

PIF-backed agritourism brand ‘Solan’ announced

RIYADH: ֱ’s tourism landscape is set to transform with “Solan,” a new hospitality brand launched by Dan Co., a subsidiary of the Public Investment Fund.

According to a press release, Solan aims to create a nationwide network of unique farm stay and lodge experiences, directly supporting local communities and economic diversification in line with Vision 2030.

The innovative brand will operate on a franchise model, partnering with lodge, istiraha, and farm owners across ֱ to help them transform their properties into high-end tourism destinations, offering both overnight stays and day experiences.

This comes as ֱ accelerates its Vision 2030 push to position tourism as a pillar of economic diversification, raising its target to 150 million annual visitors by 2030 after surpassing the 100 million mark ahead of schedule.

In 2024,international tourism revenue soared 148 percent from 2019 — the fastest growth among G20 nations.

CEO of Dan Co., Abdulrahman Abaalkhail said: “Solan is the first Saudi hospitality brand to introduce a franchise model in agritourism, opening opportunities to diversify tourism experiences across the Kingdom by providing comprehensive support for our partners.

“This allows us to offer authentic local experiences that showcase the natural beauty and agricultural diversity of various regions, creating unforgettable memories.”

This initiative is designed to diversify local incomes, create direct and indirect job opportunities, and stimulate private sector investment in host cities.

By merging agriculture, eco-tourism, and adventure with hospitality, Solan aims to strengthen the foundation of the national tourism industry.

The CEO added that the brand promotes sustainable agriculture while empowering local communities to “help build a thriving future for the tourism and hospitality sector, strengthening the Kingdom’s position as a global tourism destination.”

According to the press release, Solan is committed to preserving and promoting local culture and traditions, and will also provide opportunities for visitors to learn about both traditional and modern agricultural practices.

Dan Co. signed memorandums of understanding with several strategic partners to contribute to the development of a sustainable local tourism system and develop the business of the agritourism sector by providing financing solutions to farm owners, the press release said.

Beyond financial support, Solan will equip partners with operational guidelines and conduct regular monitoring.

The brand is strategically targeting numerous cities across the Kingdom identified for their farm-based tourism potential. “The first pilot farms by Solan will be announced soon,” the statement said.


New Saudi ‘art ecosystem’ thanks to CMA-regulated fund, Audi Capital MENA CEO explains

New Saudi ‘art ecosystem’ thanks to CMA-regulated fund, Audi Capital MENA CEO explains
Updated 15 sec ago

New Saudi ‘art ecosystem’ thanks to CMA-regulated fund, Audi Capital MENA CEO explains

New Saudi ‘art ecosystem’ thanks to CMA-regulated fund, Audi Capital MENA CEO explains

RIYADH: ֱ’s cultural economy will see fresh momentum with the launch of the Audi Capital MENA Art Fund, a first-of-its-kind investment vehicle regulated by the Capital Market Authority. 

The new initiative was unveiled on stage at the inaugural Cultural Investment Conference in Riyadh, a two-day gathering designed to position culture as a central driver of the Kingdom’s Vision 2030 diversification agenda.

The fund is targeted exclusively at institutional and qualified clients and will focus on building value in the Kingdom’s art ecosystem through acquisitions, education, and events.

Speaking to Arab News, Daniel Asmar, CEO of Audi Capital and former MENA head of Sotheby’s, said: “It will be a fund that will invest in modern and contemporary artists from ֱ and the MENA region mainly, however, it will have an allocation to global artists as well.

He added: “This will be the first regulated fund in the region, and we’re very proud to say that it will be regulated in ֱ and established in ֱ.”

Asmar explained that its mission is to bridge “the gap between the finance world and the art world and the cultural world,” bringing capital into artworks in ֱ, and the Middle East.

He added that it will drive cultural and economic growth.

The governance structure, Asmar noted, is a key differentiator. “We’re going to have a board of directors, and we are going to have an advisory and acquisition committee, who are all expert leaders,” he said, adding: “We’re very proud of the service providers that we have selected.”

In addition, the fund will commit to quarterly events for artists, collectors and investors, designed to encourage dialogue about collecting and educate participants about the market. 

“We’re building an art ecosystem around that,” he said.

The launch was closely aligned with the conference’s message that culture is a strategic economic lever.


Minister of Economy and Planning participates in the Cultural Investment Conference 2025

Minister of Economy and Planning participates in the Cultural Investment Conference 2025
Updated 46 min 50 sec ago

Minister of Economy and Planning participates in the Cultural Investment Conference 2025

Minister of Economy and Planning participates in the Cultural Investment Conference 2025

RIYADH: Minister of Economy and Planning Faisal Alibrahim on Monday participated in the Cultural Investment Conference 2025.

During a panel session titled “From Policy to Prosperity – Culture as a Strategic Investment,” the minister described the multifaceted role culture plays in the economy.

Commenting on the role of culture, Alibrahim said “This is serious business, this is serious investment, and this is serious job creation.”

He added: “Culture is about three things. Our objective under Vision 2030 is to accelerate diversifying the economy. Culture played a significant role in driving the first wave of growth in new sectors – tourism, culture, entertainment, and sports.” 

Culture’s second role is in economic participation, Alibrahim said, with new sectors creating jobs and inspiring entrepreneurs.

“This is very important for the economy – it signals a healthy economy. It’s not just about people entering jobs, it’s about what they’re learning in these areas. Culture is at the heart of creative sectors.”

Alibrahim said the third role of culture is as a connector, with the Kingdom’s cultural ecosystem actively showcasing ֱ to global audiences through diverse cultural initiatives.

These efforts not only link international talent communities to the Kingdom but also serve as gateways for investors to discover and engage with the Kingdom’s growing opportunities.

The minister concluded by saying culture is “paving the way for future growth and multipliers of growth” with every investment in creative sectors having a multiplier effect on the economy.

He added that “the Ministry of Culture and its ecosystem are actively training around 5,000 people in addition to sponsoring students in the thousands to get many degrees in these sectors since the start of Saudi Vision 2030.”


Zakat Authority and Culture Ministry sign cooperation agreement

Zakat Authority and Culture Ministry sign cooperation agreement
Updated 29 September 2025

Zakat Authority and Culture Ministry sign cooperation agreement

Zakat Authority and Culture Ministry sign cooperation agreement

RIYADH: ֱ’s Zakat, Tax and Customs Authority and the Ministry of Culture signed a cooperation agreement to enhance the organization, support, and sustainability of the Kingdom’s cultural sector. 

The agreement was signed by ZATCA Governor Suhail Abanmi and Deputy Minister of Culture Hamed Fayez during the Cultural Investment Forum 2025, held at the King Fahad Cultural Center.

Organized by the Ministry of Culture, the event will see the participation of more than 1,500 attendees and over 150 speakers of its two days.

Since the launch of Vision 2030, the cultural sector’s contribution to GDP has reached 1.6 percent, with the number of workers increasing to 234,000 and financial support approaching $2 billion in 2024. Infrastructure investment in the sector has surpassed SR81 billion. 

This first-of-its-kind forum in ֱ aims to position the Kingdom as a leading global destination for cultural investment. 

The event also promotes culture as an attractive investment opportunity by presenting new funding models, forming strategic partnerships, and highlighting the role of cultural capital in driving inclusive and sustainable growth. 


Jeddah set for $1bn Trump Plaza, Saudi developer Dar Global reveals

Jeddah set for $1bn Trump Plaza, Saudi developer Dar Global reveals
Updated 29 September 2025

Jeddah set for $1bn Trump Plaza, Saudi developer Dar Global reveals

Jeddah set for $1bn Trump Plaza, Saudi developer Dar Global reveals

JEDDAH: Saudi developer Dar Global plans a $1 billion Trump Plaza Jeddah in its second collaboration with the Trump Organization, aiming to transform the city’s skyline with a mixed-use project. 

The development follows the launch of Trump Tower Jeddah in December and will feature premium residences, serviced apartments, Grade-A office space, and exclusive townhouses. 

Jeddah, a key commercial and cultural hub, is attracting strong interest from international developers in high-end residential, hospitality, and mixed-use projects. The development comes amid rapid growth in ֱ’s luxury real estate sector, driven by Vision 2030’s goals to diversify the economy and transform urban living.  

By 2024, the Kingdom had invested SR4.9 trillion ($1.3 trillion) in infrastructure, expanding residential, commercial, and hospitality capacities, with plans for over a million new residential units and seven million sq. meters of retail and office space. 

Ziad El Chaar, CEO of Dar Global, said: “Trump Plaza Jeddah is a pioneering concept in ֱ and one of the most ambitious developments Dar Global has undertaken to date.”  

He added: “By combining residential, serviced, and office components with a Central Park-inspired landscape, we are delivering a unique lifestyle destination that reflects both Manhattan’s vibrancy and Jeddah’s strategic role as a cultural and commercial hub.” 

Strategically located along King Abdulaziz Road in the heart of Jeddah, the project will transform the city’s skyline with a mixed-use community, according to a press release. 

“We are honored to expand our footprint in ֱ with the Trump Plaza Jeddah. This project embodies our vision of excellence by blending world-class hospitality, modern living, and dynamic business environments,” said Eric Trump, executive vice president of the Trump Organization. 

The development also comes as Trump Tower Jeddah — a 47-floor luxury development along the Red Sea coast — entered its pre-construction phase, as confirmed in May by Eric Trump, son of US President Donald Trump. 

The tower represents one of ֱ’s most high-profile real estate ventures, highlighting the scale of the Dar Global–Trump Organization partnership. 

Listed on the London Stock Exchange, Dar Global was founded as the international arm of Dar Al Arkan Real Estate Development, a leading Saudi real estate developer. 


Saudi box office growth ‘extraordinary,’ could mirror England, Sony executive says

Saudi box office growth ‘extraordinary,’ could mirror England, Sony executive says
Updated 29 September 2025

Saudi box office growth ‘extraordinary,’ could mirror England, Sony executive says

Saudi box office growth ‘extraordinary,’ could mirror England, Sony executive says

JEDDAH: ֱ’s cinema box office is already comparable in size to England’s with the right marketing, said Tony Vinciquerra, chairman of Sony Pictures Entertainment.

Speaking during a panel at the Cultural Investment Conference in Riyadh, Vinciquerra praised the Kingdom’s rapid progress in building a cinema market from scratch in just a few years. He described the growth as “crazy” and unprecedented in speed compared with other global markets. 

The Saudi Film Commission reported that 17.5 million cinema tickets were sold in 2024, generating SR845.6 million ($225 million) in box office revenues. 

Meanwhile, the General Authority for Statistics said 11 percent of Saudis over 15 visited cinemas last year, and the General Entertainment Authority logged nearly 77 million attendees at events in 2024 — underscoring the size of the broader entertainment ecosystem. 

Vinciquerra pointed to the surge in box office revenues and audience participation as evidence of strong underlying demand. 

“Will Smith came here. We made $28 million in box office, which is about what we are doing in England for a good film,” Vinciquerra said, citing Sony’s Bad Boys release in ֱ. 

“So, that gives you an example of what could happen here if you have the right product and the right promotion and marketing,” he said, adding this is going to be “a terrific market in the future.”

The senior executive added that box office growth in ֱ is extraordinary. “It’s one of the fastest-growing markets in the world, and the appetite for content is tremendous.” 

The Kingdom has also ramped up domestic production, with 17 Saudi films released in 2024, generating approximately SR76.6 million in revenue — a 19 percent increase from the previous year, according to the Saudi Film Commission's 2024 annual report. 

He added that what has been done in five years in ֱ is what took other markets decades to achieve. “This country has massive curiosity and massive enthusiasm. That critical mass and momentum is essential to making an organization function the way it should.” 

Vinciquerra noted that the Kingdom’s embrace of cinema aligns with Vision 2030’s goals of diversifying the economy and enriching quality of life. He also emphasized the importance of experienced teams and government support in driving rapid progress. 

“The ministers in this country have been able to get people moving in the same direction,” he said.

Commenting on hiring the right people for the industry, he added: “Intelligence and experience are essential success factors, and having the right team in place can significantly drive progress.”