The first-ever Saudi-owned duty-free retailer has just been revealed
The outlets will offer high-quality Saudi products…
The Public Investment Fund (PIF) recently announced the creation of the Al Waha Duty-Free Company (Al Waha), a travel retailer and the first Saudi-owned duty-free operator.
A wholly owned PIF company, Al Waha, will develop luxury retail outlets in select locations across the country and feature a variety of merchandise, including note-worthy, high-quality Saudi products.
#PIF today announced the establishment of Al Waha Duty-Free Company (Al Waha), a travel retailer and the first Saudi-owned duty-free operator. Al Waha, #aPIFcompany, will become a leader in travel retail.
— Public Investment Fund (@PIF_en) March 10, 2025
The company will operate its airport outlets on a duty-free basis and will explore additional travel retail opportunities at land border crossings and seaports, as well as channels such as inflight shopping.
#PIF is unlocking the capabilities of strategic sectors to further diversify the Saudi economy. This announcement follows a series of investments by PIF in tourism, aviation and retail.
Learn more: https://t.co/GMUPtiKXHP pic.twitter.com/z1AwDZOzFn
— Public Investment Fund (@PIF_en) March 10, 2025
Majed Al-Assaf, Head of Consumer Goods and Retail in MENA Investments at PIF, said, “By establishing Al Waha as a national travel retail champion, PIF intends to grow the Saudi travel retail industry and further support its ambitions for the tourism sector in Saudi Arabia. Al Waha will offer a distinctive traveler experience across Saudi travel retail touch points through diverse product offerings, a duty-free operation, and a superior digital customer journey.”
PIF is also behind the launch of Riyadh Air, the new Saudi flag-carrier, which intends to make Riyadh a major international air travel hub. Other PIF tourism investments include Jeddah-based Red Sea Cruise Company Cruise Saudi, which aims to make the Saudi coastline a premier global destination.
Visit: pif.gov.sa