His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing, witnessed the signing of an investment contract between the Taif Municipality and Al Othaim Investment Company for the development of King Fahd Park, located on Al-Hada Road in Taif Governorate.
The contract was signed on behalf of the Taif Municipality by Eng. Abdullah bin Khamis Al-Zaydi, Mayor of Taif, and on behalf of Al Othaim Investment Company by Mr. Abdullah bin Saleh Al-Othaim, Chairman of the Board of Al Othaim Investment.
This project comes as part of ongoing efforts to enhance the tourism and entertainment infrastructure in Taif Governorate and to improve the quality of life in line with the objectives of Saudi Vision 2030. It aims to empower the private sector and stimulate high-quality investments across the Kingdom.
The contract aims to develop an integrated investment project covering an area of 250,000 square meters. It will include a modern amusement park, a tourist hotel, and a range of comprehensive service facilities, turning the park into a year-round destination for families, visitors, and tourists.
The first phase of the project is expected to open within one year, with full completion anticipated within two years, in line with the aspirations of Taif’s residents and visitors for more upscale and sustainable entertainment options.
On this occasion, Mr. Abdullah bin Saleh Al-Othaim, Chairman of the Board of Al Othaim Investment Company, expressed his sincere gratitude to the wise leadership – may God support it – for its continued support of development and construction projects. He affirmed that this project reflects the ongoing efforts to empower the private sector and activate its role in economic development.
Mr. Al-Othaim also extended his deep appreciation to His Royal Highness the Governor of the Makkah Region for his patronage and ongoing support of development and investment projects across the region, and for his close follow-up on initiatives that serve citizens and enhance quality of life.
He further conveyed his highest gratitude and appreciation to His Royal Highness the Governor of Taif for his generous support and continuous follow-up of this vital project, and for his commitment to enhancing the investment and development environment in the governorate in line with the aspirations of its residents and visitors.
Mr. Al-Othaim also praised the efforts of His Excellency the Minister of Municipal, Rural Affairs and Housing in fostering an attractive and stimulating investment environment and launching high-impact initiatives that contribute to raising quality of life in cities across the Kingdom.
He also extended his thanks and appreciation to the Taif Municipality for its effective role in supporting and accelerating the project’s procedures and for providing the right environment to activate public-private partnerships that drive development forward in the governorate.
Mr. Al-Othaim explained that the signing of this contract aligns with Al Othaim Investment Company’s expansion strategy, which aims to launch model, fully integrated service projects that meet community needs, stimulate the local economy, and provide high-quality job opportunities. He affirmed the company’s commitment to the highest technical and execution standards.
He concluded his statement by emphasizing that the new project in Taif aims to deliver a leading entertainment and tourism experience in one of the Kingdom’s most prominent natural destinations, further enhancing the city’s status as an attractive and distinguished tourism hub.
