Dan Company Finalizes Its Involvement in PIF Private Sector Forum by Signing MOU with Abdulmohsen Bin Abdulaziz Aljabr Trading Company
The partnership will cover several areas of cooperation, including the management and operation of lodges and farm stays.
The announcement comes during Dan Company’s participation at the second edition of the PIF Private Sector Forum, attended by more than 6,000 representatives from the private sector.
RIYADH, Saudi Arabia, 8th February 2024: Dan Company, a wholly-owned subsidiary of the Public Investment Fund (PIF) specializing in agritourism, ecotourism, and adventure tourism, today announced the signing of a Memorandum of Understanding (MOU) covering several potential areas of cooperation, including management and operation of lodges and farm stays with Abdulmohsen bin Abdulaziz AlJabr Trading Company. The signing took place during Dan Company’s participation in the second edition of the PIF Private Sector Forum, hosted to support the funds’ private sector strategic engagement initiatives.
During the event at the King Abdulaziz International Conference Center in Riyadh, attended by 6,000 private sector participants, 15 government entities, 83 PIF companies, and over 20 ministers and excellencies, there were 69 MoU signings and 24 workshops.
Dan Company hosted a critical demand signaling workshop designed to foster the exchange of insights on demand forecasting, future projects, and business and investment opportunities for the private sector. During the workshop, attended by 250 people, Abdulrahman Abaalkhail, CEO of Dan Company, discussed the company’s aim to establish a world-class tourism ecosystem that promotes sustainable, social, and economic growth and encourages going back to the Kingdom’s captivating natural beauty. He also discussed the opportunities for the private sector to participate in its upcoming roadmap from an investor and supplier perspective.
Established in 2022, Dan company will have a rich mix of assets and experiences that includes luxury resorts, lodges, and farm stays, structuring its business to cater to all visitors’ different tastes and requirements and includes both daytime hospitality experiences and overnight stays. By shedding light on Saudi Arabia’s rich agricultural and natural diversity, the company will create exceptional experiences that strengthen the connection between people and nature through agritourism, ecotourism, and adventure tourism.
As enablers of local communities, Dan’s projects will also provide Saudi and international visitors with new experiences by partnering with farmers and tourist lodge operators who will receive the training and knowledge they need to help them start and build their facilities. Additionally, the company will provide investment opportunities for the private sector and create direct and indirect job opportunities.
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.
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, said, “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 advancing the Kingdom’s tourism goals.”
Aligning with Vision 2030 goals, Dan will help diversify the economy and enhance the contribution of city economies to Saudi GDP. As a player in the Kingdom’s tourism sector, Dan Company enables local communities to diversify their economic activities and develop thriving businesses. The company will work closely with key government and private sector stakeholders and contribute to the growth of the tourism industry; these efforts are expected to create numerous direct and indirect job opportunities. By 2030, Dan is anticipated to contribute approximately $1.6 billion (SR6 billion) to Saudi Arabia’s non-oil GDP as it expands its footprint.
