Tourism PIF-backed Asfar to open new mountain resort in 2025 By Pramod Kumar September 27, 2023 Creative Commons The Gamra tourism project will house 100 units, including 70 luxury villas and 30 resort rooms Construction has commenced this month on the Saudi sovereign wealth fund-backed Gamra mountain resort project in Al Baha, the kingdom’s southwest region. The project is due to open in the first half of 2025. Saudi Tourism Investment Company (Asfar) will develop the project in partnership with Ebda, an adventure, sport and entertainment company, as the kingdom targets 150 million visitors by 2030. Gamra will be the Public Investment Fund (PIF)-owned company’s first foray into tourism infrastructure development in the emerging cities of the kingdom. Covering over 70,000 square metres, the tourism project will house 100 units, including 70 luxury villas and 30 resort rooms. Fahad bin Mushayt, CEO of Asfar, said: “We have a strategic focus to co-invest with the private sector to unlock tourism opportunities across the kingdom. We strive to redefine and elevate mountain tourism and agritourism.” Sinan Al Saady, Ebda board member, said Al Baha is poised to become a leading regional destination due to its scenic beauty, vast tourism opportunities, and unique historical and archaeological sites. Asfar was launched in July this year to invest in new tourism projects and develop destinations with hospitality and retail attractions. The company intends to offer the private sector opportunities to co-invest in projects, giving a thrust to local suppliers, contractors, and small and medium-sized enterprises. Crown Prince and Prime Minister Mohammed bin Salman launched the masterplan to develop Soudah and parts of Rijal Almaa into Soudah Peaks on Monday. The first of three phases of Soudah Peaks, a luxury mountain tourism destination set 3,015 metres above sea level on Saudi Arabia’s highest peak, will be completed in 2027.