Riyadh - Mubasher: The Saudi Commission for Tourism and National Heritage (SCTH) has completed the financing requirements for 14 projects with investments of more than SAR 400 million.
The financing needs have been referred to the Ministry of Finance (MoF) for review.
These projects come as part of the commission’s efforts to support touristic projects, as it aims to raise the total number of hotel rooms from 425,000 in 2015 to 625,000 by the end of 2020.
Another goal is to sustain a growth rate in the sector’s investments by no less than 5% per year.
A budget of SAR 2.7 was previously approved as part of the 2020 National Transform oration Program (NTP) to renovate hotels and associated amenities, suites, lounges, conference centers, resorts and tourist inns, heritage hotels, and tourist services.
