Luxurious hotel brand Habitas secures funding worth $400 Mn from Saudi Arabia, which could help its expansion across the kingdom and attract more tourists, Invest Gate reports.

Habitas was launched in 2016, by British entrepreneur Oliver Ripley and his partners, espousing sustainability and local community empowerment as its core values. The brand expanded in 2021, opening new hotels in Mexico, Namibia, and Saudi Arabia.

Bloomberg reports, “Habitas plans to have as many as six new properties in the kingdom. The details aren’t finalized, but sites could range from the Red Sea coast to the inland capital of Riyadh.”

Habitas AlUla started in November 2021, following the signing of a new partnership between Habitas and The Royal Commission for AlUla (RCU). Saudi Arabia’s TDF was set up in June 2020 to empower the industry.

With $4 bn in the capital, TDF aims to facilitate local and international investors’ access to high-potential tourism investments across critical destinations in the Kingdom.