Riyadh, November 16, 2024 – Prince Turki bin Talal bin Abdulaziz, Governor of Aseer Region and Chairman of the Aseer Development Authority, presided over the signing ceremony for the main contract of The Point project. Estimated at over SAR 1 billion, the contract marks a significant milestone in the development of this ambitious retail, entertainment, and hospitality destination, which is being overseen by the Aseer Development Authority in partnership with the Tourism Development Fund, Red Sea Markets for Real Estate Investment Company, and Banque Saudi Fransi.
Slated for completion in the fourth quarter of 2027, The Point aims to become a premier tourism and lifestyle hub in Aseer. Strategically located along the main road connecting the city of Abha and Khamis Mushait Governorate, the development spans 75,000 square meters. It is conveniently positioned just seven kilometers from Abha city center and only 14 minutes from Abha International Airport, making it a highly accessible destination for residents and tourists alike.
The project will feature an impressive array of amenities, including diverse retail outlets, restaurants, local and international cafes, and a state-of-the-art cinema. Hospitality offerings include luxury Hilton hotel apartments and a Canopy Hotel by Hilton, ensuring a blend of world-class accommodations and local charm. Additionally, the development will include green spaces, a health and youth center, and vibrant areas designed to foster community engagement and enhance the overall visitor experience.
The signing ceremony took place on the sidelines of Cityscape Global 2024, a major real estate event that concluded in Riyadh yesterday. Speaking at the ceremony, Prince Turki emphasized the importance of The Point in supporting Aseer’s ongoing economic and tourism development, aligning with the goals of Saudi Vision 2030 to diversify the Kingdom’s economy and promote regional growth.
With its mix of retail, entertainment, hospitality, and leisure offerings, The Point is poised to become a flagship destination in Aseer, reflecting the region’s commitment to innovation, sustainability, and excellence in urban development.