Saudi wealth fund to invest in mountainous Aseer region

Saudi wealth fund to invest in mountainous Aseer region

Aseer receives the most rainfall in Saudi Arabia and has some tourism potential, but the kingdom is not close to meeting its tourism goals at present.













Mist covers the sky at 2,800 meters above sea level at the Jabal Marir park in Saudi Arabia's Asir province on Aug. 16, 2022. As Saudi Arabia swelters in temperatures up to 50 degrees Celsius, some are escaping to the "City of Fog," a mountainous oasis of cool. - SALEH ALJUBAIRI/AFP via Getty Images























December 2, 2022









Saudi Arabia’s sovereign wealth fund announced Thursday a plan to invest more in the Aseer region in the southwest.

The Public Investment Fund launched the Aseer Investment Company, which will work to attract local and foreign investment to the region in a bid to turn Aseer into a “year-round tourism destination.” The company will specifically target the tourism, hospitality, healthcare, sports and education sectors, the Public Investment Fund said in a press release. 

Why it matters: Aseer has some tourism potential. The Aseer mountains are in the area, and the region receives the most