The Tourism Development Fund has signed a partnership and cooperation agreement with Emaar Economic City Company as the owner of the land of the project located in King Abdullah Economic City, and FTG Development Company as the project developer and Al-Bilad Financial Company as the fund manager, in the presence of the Director of the Tourism and Quality of Life Sector at the Ministry of Investment, in order to prepare To start the procedures for establishing a closed and private real estate investment fund of 1.8 billion riyals in accordance with the requirements of the Capital Market Authority, to develop and operate a five-star comprehensive resort and hotel with a water park and overwater villas under the brand of Rixos, which is one of the brands owned by Accor Global (Accor).

The "Rixos Emerald Shores" project is one of the largest tourist resorts targeted to be established in King Abdullah Economic City and is unique in the Kingdom. The resort is to be constructed on a land of a total area of ​​275 thousand square meters and a magnificent view of the Red Sea beaches with a length of 600 meters and adjacent to a playground. Golf.
The resort is expected to be one of the largest leisure tourism destinations in the Kingdom, as it is characterized by the diversity of facilities and hotel units, and includes more than 500 rooms and 35 luxury hotel villas with direct views of the Red Sea coast with a distinctive and modern style.
The project has various options for accommodation facilities that provide an exceptional environment for tourism, entertainment, comfort and recreation, and the resort also provides an integrated and world-class water park, beaches, clubs for children and gyms, in addition to more than 10 varied options of international restaurants and cafes, which in turn will provide a unique experience for its visitors.
The CEO of the Tourism Development Fund, Qusay bin Abdullah Al-Fakhry, confirmed that the project will contribute to improving the quality of the tourist experience in the Kingdom, a real start to the development of tourism destinations that are in line with the fund’s objectives in supporting the development of quality projects that contribute to the development of this important sector in the Kingdom.
For his part, CEO of Emaar Economic City, Ahmed Ibrahim Lengawi, explained that this step constitutes an effective support for the tourism sector, which the Kingdom pays special attention to within its national strategy, as King Abdullah Economic City is a fundamental pillar as it is an integral part of the promising Saudi tourism sector, pointing to The Economic City is today one of the modern tourist destinations on the Red Sea that attract investment in the Kingdom for its effective contribution to enhancing quality of life programs, developing tourism, entertainment and investment, in order to enrich the experiences of its residents and visitors from all segments of society in light of its promising investment potential and opportunities and advanced infrastructure.
This project coincides with the launch of a strategy to develop the Sahel region parallel to the city's beaches and its strategic location, which makes it one of the economic tributaries that support the goals of Vision 2030.

This step shows the size of the tourism opportunities in the Kingdom that are targeted by the Tourism Development Fund in cooperation with the public and private sectors, as this agreement aims to find promising investments in the tourism sector in cooperation with the private sector and attract foreign investments to the Kingdom in line with the objectives of the national strategy for tourism and achieve an actual contribution to the sector. Tourism is to increase the Kingdom’s gross domestic product, as the Fund aspires to empower the tourism sector as one of the most important tributaries of the non-oil economy and to provide adequate job opportunities for young men and women.

It is noteworthy that the brand Rixos operating the project is owned 70% by the international company Accor, which specializes in the hospitality and hospitality sector, which owns nearly 40 brands in the hotel sector and operates more than 5,000 hotels and tourist resorts in 110 countries around the world. Finance is one of the leading national companies in the financial sector in the Kingdom and has distinguished experience in developing real estate projects through the establishment and offering of investment funds that contribute to the development of the real estate, tourism and other sectors in the Kingdom.