Dan Company, a wholly-owned subsidiary of the Public Investment Fund (PIF) specialising in agritourism, ecotourism, and adventure tourism, has signed a Memorandum of Understanding (MOU) with Abdulmohsen bin Abdulaziz AlJabr Trading Company.
The MoU, the first that Dan Company has signed with a management partner, will cover several areas of cooperation, including the management and operation of farm stays and lodges.
The signing took place during Dan Company’s participation in the second edition of the PIF Private Sector Forum, attended by 6,000 private sector participants, 15 government entities, 83 PIF companies, and over 20 ministers and excellencies.
During the event at the King Abdulaziz International Conference Center in Riyadh, there were a total of 69 MoU signings and 24 workshops.
Dan Company hosted a critical demand signalling workshop, attended by 250 people, designed to foster the exchange of insights on demand forecasting, future projects, and business and investment opportunities for the private sector.
Dan Company shared that its projects will partner with farmers and tourist lodge operators who will receive the training and knowledge they need to help them start and build their own facilities.
The company will also provide investment opportunities for the private sector and create direct and indirect job opportunities, it was shared.
Abdulrahman Abaalkhail, CEO of Dan Company, said, “Dan aims to involve local communities in providing experiences that allow visitors to fully interact in harmony with distinctive Saudi regional culture and traditions, including arts, crafts, local cuisines, and culture. The announcement of this partnership is the first of many with management partners and a testament to our commitment to establishing long-term partnerships and enhancing synergies to promote the thriving tourism sector in the Kingdom and contribute to the sustainable prosperity of future generations.”
Mishari AlJabr, Managing Director of Abdulmohsen bin Abdulaziz AlJabr Tourism Company, added: “We are proud to be Dan Company’s first management partner. Abdulmohsen bin Abdulaziz AlJabr Tourism Company is committed to providing visitors to Al-Ahsa an experience like no other – an adventure that will incorporate everything from a connection to nature, the taste of organic food, and a cozy and comfortable stay. Our partnership with Dan Company will ensure we can deliver this to the highest possible standard, contributing to the advancement of the Kingdom’s tourism goals.”
By 2030, Dan Company is anticipated to contribute approximately $1.6 billion (SR6 billion) to Saudi Arabia’s non-oil GDP as it expands its footprint.