The Public Investment Fund (PIF) has announced the launch of the Duty Free (Al Waha), a retail travel company, which will become the first Saudi-owned duty-free operator. The company will be a national leader in travel retail, redirecting a greater portion of travel spending back into the Saudi economy. It will develop luxury retail outlets in select locations across Saudi Arabia, offering a diverse range of goods, including high-quality Saudi products. It’s also will operate its outlets at airports on a duty-free basis and will explore additional retail opportunities at land border points and ports, in addition to in-flight sales. Majed Al-Assaf, Head of Consumer Goods and Retail in MENA Investments at PIF, said: PIF aims to enhance the growth of travel retail and support its aspirations in the local tourism sector by launching “Al Waha” to be a leading national company in the field of travel retail. “Al Waha” will provide a distinctive experience for travelers in various travel facilities in Saudi Arabia through diversifying products, distinguishing duty-free operations, and developing an advanced digital shopping experience. “We have significant opportunities to increase Saudi Arabia’s share of travel retail spending in the future. The expected growth in the number of […]