Arab News | $133m investment push targets green projects

JEDDAH: Saudi Arabia’s National Center for Vegetation Cover Development and Combating Desertification has unveiled 103 investment opportunities worth more than SR500 million ($133 million) across the Kingdom.

Covering more than 45 million sq. meters, the opportunities aim to promote sustainable development at vegetation cover sites through private sector partnerships.

The initiative will allow businesses to help develop and protect vegetation cover while supporting the Kingdom’s environmental sustainability goals under Vision 2030.

“The 103 investment opportunities span ecotourism, hospitality, entertainment, agriculture and environmental projects, based on the characteristics and comparative advantages of each location,” the center told Arab News.

“They include the development of parks, lodges, eco-camps, activities and supporting services, with all designs subject to approval before implementation.

“The center will protect vegetation cover by enforcing environmental requirements, minimizing construction work and monitoring projects on-site throughout the investment period.”

The center said the initiative would build on its efforts to develop vegetation cover sites and ensure their long-term sustainability.

It described the opportunities as an important step toward transforming environmental assets into sustainable development projects through responsible investment models that protected natural sites and enhanced their economic and social value.

Investment agreements will run for five to 25 years, contributing to the goals of the Saudi Green Initiative. The projects are expected to generate returns of up to 16 percent, with an internal rate of return of 17 percent.

They are also expected to contribute more than SR1.4 billion to the Kingdom’s gross domestic product and create about 6,000 jobs, supporting local development and strengthening the national economy.

The center said the opportunities included sites in Riyadh, Makkah, Asir, Madinah, Qassim, Baha, Hail, Eastern Province, Northern Borders, Najran, Jouf, Jazan and Tabuk.

The proposed ventures include adventure tourism activities such as sports, paragliding and mountain climbing. They also cover environmental projects involving plant nurseries, apiaries, medicinal and aromatic plants, and the processing of invasive plant species.

Other opportunities include seasonal events, festivals, retail outlets, bazaars and equestrian activities, as well as hospitality offerings such as eco-lodges, botanical gardens, caravans and camping.

The center invited investors, entrepreneurs and interested organizations to review the opportunities on the Furas platform and develop sustainable projects that combine economic returns with natural resource conservation.

It continues to offer long-term and seasonal investment opportunities at vegetation cover sites to support afforestation, develop natural resources, promote ecotourism, and advance environmental and economic sustainability across the Kingdom.