U.S, May 2 -- ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund, announced yesterday the signing of the investment agreements between Baheej, a joint venture between ASFAR and the Tamimi-AWN Alliance, and the Royal Commission for Yanbu.

This strategic partnership was officially unveiled at a signing ceremony on the sidelines of the 2024 Future Hospitality Summit (FHS) in Saudi Arabia. The signing was attended by the President of the Royal Commission for Jubail & Yanbu Eng. Khalid bin Mohammed Al-Salem, CEO of the Royal Commission for Yanbu Eng. Abdulhadi Al-Juhani, CEO of ASFAR Dr. Fahad Bin Mushayt, and CEO of Baheej Norah Al-Tamimi.

The plans will be overseen by Baheej, whose primary objective is t...