Hong Kong-based airport lounge operator Plaza Premium Group (PPG) is set to invest $100 million to expand its presence in the Middle East, with a major focus on Saudi Arabia.

The investment will be used to open new lounges, establish a global airport concierge service, create dining outlets and explore opportunities for in-terminal hotels, the company said in a statement.

The allocation is part of the $300 million the company intends to invest globally over three years.

PPG’s portfolio includes airport lounges, hotels and food and beverage outlets. It is currently in 80 airports, 30 countries and 250 locations worldwide, including Amman, Riyadh, Jeddah, Dammam, Dubai and Muscat in the Middle East.

The company is looking to boost its global footprint to 500 locations by 2025, as well as tap into the growing tourism sector in the Middle East, which is forecast to grow around 7.7% annually until 2032. Saudi Arabia also has plans to invest over $100 billion to establish a global aviation hub.

“This is an exciting time to invest in the Middle East,” noted Song Hoi-See, Founder and CEO of PPG.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com