The Saudi Heritage Hospitality Company aims to restore and rehabilitate various publicly-owned heritage buildings and archaeological sites.

Under the auspices of the Saudi Commission for Tourism and Antiquities, five major real estate and hospitality firms joined the Public Investment Fund in establishing the Saudi Heritage Hospitality Company, a joint stock company with a paid-up capital of SAR 250 million.

The company was announced last year as a public private partnership initiative to transform heritage buildings and archaeological sites into accommodation and hospitality facilities.

The private shareholders in the company include Dur Hospitality, Jeddah Development and Urban Regeneration Company, Riyadh Development Company, Taiba Investment Company, and Tayyar for Investment and Real Estate Development Company. The government is represented by the Public Investment Fund.