Company Insights Almosafer Tourism Almosafer Overview Almosafer Travel and Tourism Company is the operator of an online travel platform, catering to travellers to and from the Mena region. It is based in Riyadh, with two other sites in Dubai and Cairo. Almosafer is an operating subsidiary of the Seera Group, one of Saudi Arabia’s largest travel companies. Although Saudi Arabia’s Public Investment Fund (PIF) signed a non-binding agreement to acquire 30 percent in Almosafer in 2022, this plan was terminated in March 2024 after failure to reach an agreement with Seera Group. Almosafer’s online services include flight bookings, hotel bookings and car rental services. It has agreements with different airlines and hotels, selling them directly through their platform. In total this covers 1.5 million properties and 450 airlines across the world. Almosafer serves all travel sectors from consumer to corporate and government, as well as tourism for leisure and religious travel. Subsidiaries include Almosafer Business, Almosafer Activities, Discover Saudi and Mawasim Seera Group. Almosafer News Tourism Saudi travel firm targets Chinese ahead of IPO Saudi Arabia is hoping to attract 5 million Chinese tourists by 2030 as part of a push that is also targeting Russia, Germany, Italy and the UK, leading tour operator Almosafer said on Wednesday, flagging a likely IPO within two years. “China is the top tourist source market and you really need to have a […] November 21, 2024 Tech Amazon to invest $5.3bn in data centres in Saudi Arabia Amazon Web Services (AWS), the cloud division of Amazon, is to invest $5.3 billion (SAR20 billion) in establishing data centres in Saudi Arabia. The move will allow customers to run workloads and securely store customer content within the kingdom, as well as offer high-speed access to users. “Today’s announcement supports Saudi Arabia’s digital transformation with the […] March 5, 2024 Tourism PIF and Seera fail to reach agreement on investment Saudi travel major Seera Group Holding has terminated plans for the Public Investment Fund (PIF), the kingdom’s sovereign wealth fund, to invest in its subsidiary, Almosafer Travel and Tourism Company. The termination comes after the two companies failed to reach an agreement, Seera said in a statement to the Saudi bourse. The statement clarified that […] March 4, 2024 Real Estate Seera Group invests $160m in Riyadh business park Saudi travel major Seera Group plans to invest SAR600 million ($160 million) in a real estate fund to finance the development of a new business park in Riyadh. Seera will be the primary investor in the Sharia-compliant fund with the aim of developing the Kayanat Central Business Park in the north of the Saudi capital. […] November 9, 2023 Analysis Tourism Saudi domestic tourism drive takes off at Dubai’s expense Saudi visitor numbers to Dubai are expected to remain high, despite falling considerably from pre-pandemic levels as residents from the kingdom feel the pull of domestic tourism. The 289,000 travellers from Saudi Arabia made it the fourth-largest source market for travellers to Dubai in the first quarter of this year, but this total was still […] May 29, 2023 Tourism Seera’s return to operating profit reflects Saudi tourism push Saudi travel giant Seera Group has announced its first operating profit since the coronavirus pandemic as the kingdom continues to emerge as a global tourism destination. Driven by the resurgence in demand for travel, Seera Group generated a gross booking value of SR9.3 billion ($2.5 billion) last year, nearly double the figure recorded in 2021. […] March 29, 2023 Tourism PIF eyes $400m investment in Saudi travel giant Almosafer Riyadh's Public Investment Fund could acquire a 30 percent stake in the tourism group, which has reported record growth in the second quarter September 13, 2022 Posts navigation
Tourism Saudi travel firm targets Chinese ahead of IPO Saudi Arabia is hoping to attract 5 million Chinese tourists by 2030 as part of a push that is also targeting Russia, Germany, Italy and the UK, leading tour operator Almosafer said on Wednesday, flagging a likely IPO within two years. “China is the top tourist source market and you really need to have a […] November 21, 2024
Tech Amazon to invest $5.3bn in data centres in Saudi Arabia Amazon Web Services (AWS), the cloud division of Amazon, is to invest $5.3 billion (SAR20 billion) in establishing data centres in Saudi Arabia. The move will allow customers to run workloads and securely store customer content within the kingdom, as well as offer high-speed access to users. “Today’s announcement supports Saudi Arabia’s digital transformation with the […] March 5, 2024
Tourism PIF and Seera fail to reach agreement on investment Saudi travel major Seera Group Holding has terminated plans for the Public Investment Fund (PIF), the kingdom’s sovereign wealth fund, to invest in its subsidiary, Almosafer Travel and Tourism Company. The termination comes after the two companies failed to reach an agreement, Seera said in a statement to the Saudi bourse. The statement clarified that […] March 4, 2024
Real Estate Seera Group invests $160m in Riyadh business park Saudi travel major Seera Group plans to invest SAR600 million ($160 million) in a real estate fund to finance the development of a new business park in Riyadh. Seera will be the primary investor in the Sharia-compliant fund with the aim of developing the Kayanat Central Business Park in the north of the Saudi capital. […] November 9, 2023
Analysis Tourism Saudi domestic tourism drive takes off at Dubai’s expense Saudi visitor numbers to Dubai are expected to remain high, despite falling considerably from pre-pandemic levels as residents from the kingdom feel the pull of domestic tourism. The 289,000 travellers from Saudi Arabia made it the fourth-largest source market for travellers to Dubai in the first quarter of this year, but this total was still […] May 29, 2023
Tourism Seera’s return to operating profit reflects Saudi tourism push Saudi travel giant Seera Group has announced its first operating profit since the coronavirus pandemic as the kingdom continues to emerge as a global tourism destination. Driven by the resurgence in demand for travel, Seera Group generated a gross booking value of SR9.3 billion ($2.5 billion) last year, nearly double the figure recorded in 2021. […] March 29, 2023
Tourism PIF eyes $400m investment in Saudi travel giant Almosafer Riyadh's Public Investment Fund could acquire a 30 percent stake in the tourism group, which has reported record growth in the second quarter September 13, 2022
