The Public Investment Fund launches the oasis specialized in retail sales for travelers

Today, the Public Investment Fund launched the “Oasis Free Markets” company (Oasis), which specializes in retail sales for travelers.
The “Oasis” will be the first Saudi ownership company operating for free markets, while the company will be a national pioneer in the retail sales sector during travel, and to redirect a greater part of spending on traveling to the Saudi economy.
Al -Waha Company – which is fully owned by the Public Investment Fund – will develop luxury for retail outlets in selected places across the Kingdom, and will be distinguished by providing a variety of commodities, including high -quality and quality Saudi products.
The company will manage its airport ports according to the principle of free markets, and the company will also study additional opportunities for retail sales at land border points and ports, in addition to selling on flights.
“The Public Investment Fund aims to enhance the growth of retail trade for travelers and support its aspirations in the local tourism sector, by launching the ‘oasis’ to be a leading national company in the field of retail trade for travelers.
He added: “Al -Waha ‘will provide a distinct experience for travelers in various travel facilities in the Kingdom by diversifying products, characterizing free market operations, and developing an advanced digital shopping experience.”
Al -Assaf said: “We have great opportunities to increase the Kingdom’s share of spending on retail sales during future travel.”
He added: “The expected growth in the number of travelers to the Kingdom, as well as the global events that are hosted locally, provides new opportunities to generate sustainable returns for the retail sales sector during travel.”
The Public Investment Fund works to launch the capabilities of the strategic sectors, with the aim of enhancing economic diversification efforts in the Kingdom.
The launch of the “Oasis” company is in line with a series of large investments of the fund in the sectors of tourism, aviation and retail, including King Salman International Airport in Riyadh, whose scheme was launched in 2022, and it will be among the largest airports in the world when the completion of its development work with a capacity of 120 million passengers annually, and contains many retailers and restaurants.
The fund also launched the “Riyadh Air” company, the new national air carrier in the Kingdom, which aims to make Riyadh a global travel gate, and the fund’s investments include the “Great Projects” group, along with the “Saudi Cruz” company based in Jeddah, which works to make the coast of the Kingdom on the Red Sea a major global destination, in addition to investments in the retail sector, which includes the “Saudi Coffee Company” and the “City Heritage Company” that focuses on the production of high -quality dates – and the company “Swani”, specialized in camel milk products.