PIF's Dan to break ground on first project in Al-Ahsa in 2024: CEO

Abdulrahman Aba Al Khail, CEO of Dan Co.

The Public Investment Fund’s (PIF) Dan Co. will begin constructing its first projects in Al-Ahsa Governorate during 2024, CEO Abdulrahman Abaalkhail told Argaam.

The company’s first franchise projects will be in 2025, he said on the sidelines of the Future of Hospitality Summit.

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Dan was officially inaugurated in November 2023, with its strategy and business model divided into owning franchises and assets, as well as assets that are managed under a franchise system with its partners.

Abaalkhail said Dan is a real estate developer, operator and enabler. The company is creating two brands, one of which will be for the assets owned by the company and the other for franchising to the company’s partners. Many services are expected to be provided by rural inn and rest house owners to create daytime hospitality and overnight accommodation experiences, the CEO said.

The company aims to launch operations in other parts of Saudi Arabia, and these plans will be announced duly. In December 2023, the PIF announced the establishment of Dan, specializing in agri and ecotourism, according to data available with Argaam.

The company plans to develop unique tourism projects around cities across Saudi Arabia with attractive natural and farmed landscapes.

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.

Dan’s first project will be located in Al-Ahsa region and will cover 1.8 million square meters. It will feature an eco-resort, an agri-resort and an adventure resort.