Sharqia Development Authority, ASFAR Sign MoU to Enhance Tourism Investment in Al-Khobar

The Sharqia Development Authority (SDA) has signed a memorandum of understanding with the Saudi Tourism Investment Company (ASFAR), a wholly owned subsidiary of the Public Investment Fund, during the Cityscape Global 2024 exhibition in Riyadh.
The MoU was signed by Eastern Region Municipality Mayor Eng. Fahd bin Mohammed Al-Jubeir and ASFAR CEO Dr. Fahad bin Mushayt, in the presence of Quality of Life Program Center CEO Khalid Al-Bakr. The agreement aims to enhance tourism investment in Al-Khobar and create a rich environment with cultural and recreational experiences aligned with Saudi Vision 2030 and the Quality of Life Program.
The agreement entails enhancing tourist and entertainment destinations in Al-Khobar, located in the Eastern Region, through the development of the "Southern Corniche" as an integrated, premier tourist destination for citizens, residents, and visitors alike.
This trilateral collaboration aligns with the Kingdom’s efforts to improve quality of life and elevate service standards, while also attracting international tourists. The project reflects Saudi Arabia’s national vision to become one of the world’s top tourist destinations, emphasizing sustainability, visitor experience, and investment in new destinations.
This initiative is part of the Quality of Life Program, which aims to improve living standards and create an ideal environment for social and cultural interaction.