The new Habitas properties are scheduled to open in 2024. Credit: Osama Ahmed Mansour via Shutterstock.com.

Saudi Arabia is set to pump $400m to expand the presence of luxury hotel brand Habitas across the country, Bloomberg reports.

To be anchored by the Saudi Tourism Development Fund, this financing seeks to boost the tourism industry’s share of the economy to 10% from the existing 3%.

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This plan includes the development of six new properties in addition to the existing two, with potential locations ranging from the Red Sea coast to the capital city of Riyadh, as per the news agency.

The investment aims to attract international tourists and encourage domestic travel within Saudi Arabia and this expansion of Habitas is part of the country’s broader strategy to create new entertainment options.

The country aims to double the number of tourists to 100 million annually by 2030.

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According to Habitas CEO Oliver Ripley, one positive aspect of the country is its geographical diversity, claiming that the investment in infrastructure has significantly expanded access to various parts of the country, which were previously challenging to reach or restricted for religious purposes.

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This increased access opens new possibilities for potential visitors to explore the diverse landscapes of Saudi Arabia.

The new Habitas properties, scheduled to open in 2024 are a part of the company’s plans to create a multi-stop journey experience, allowing travellers to explore different locations in Saudi Arabia while staying within the familiar Habitas brand.

The company is optimistic about the potential of the Saudi market despite challenges related to human rights concerns and alcohol restrictions.