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The Raghadan Resort is considered the first pioneering tourism project in the Al-Baha region, the fund said in a Tweet.
Al-Baha region Mayor, Ali bin Muhammad Al-Swat said the contract was concluded according to the “land - opportunity - loan” model for a period of 50 years, with investment returns that exceeded SR181 million
The project consists of a hotel, a tourist center as well as a popular market to display the products of the Al-Baha, multiple halls for conferences and events, and a business center, Al-Swat said.
Implementation and operation will start in about a year and a half, he added.
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