PIF subsidiary Sela, Tahaluf sign decade-long deal for Jeddah yacht show
JEDDAH: Saudi Arabia’s Public Investment Fund subsidiary Sela and Tahaluf have signed a 10-year agreement to organize the Red Sea Yacht Show in Jeddah, with the inaugural edition set to take place from Oct. 14 to 17, 2027.
The agreement was signed at Jeddah Yacht Club in the presence of Prince Saud bin Mishaal bin Abdulaziz, deputy governor of the Makkah region and chairman of the National Events Calendar Committee for Jeddah and the show’s hosting committee.
The event aims to position the Kingdom as a leading destination for yachting and marine tourism, attracting international yacht manufacturers, investors and owners, as well as luxury tourism operators.
It is also intended to build on the global profile of the Monaco Yacht Show.
The show comes as Saudi Arabia expands its tourism sector under Vision 2030, which targets 150 million annual visitors by 2030.
The Kingdom welcomed an estimated 122 million visitors in 2025, up 5 percent year on year, while total tourism spending reached SR300 billion ($81 billion), an annual increase of 6 percent, according to preliminary official data from the Ministry of Tourism, issued early this year.
The gathering will be held as part of the Jeddah Events Calendar and will capitalize on the Kingdom’s more than 1,800-km Red Sea coastline, which features over 90 natural islands and extensive coral reefs.
Rakan bin Hussein Al-Harthi, Sela’s board member and managing director, said: “The agreement signed with Tahaluf aims to establish the Red Sea coast as a permanent destination for the yachting industry and marine tourism.”
He added that the deal also seeks to attract leading manufacturers, investors, and yacht owners from around the world.
Al-Harthi said the show would attract more international visitors, support growth in the hospitality, transportation and marine services sectors, and create jobs and training opportunities for Saudi nationals, as well as strengthen the Kingdom’s position as a host of major international events. He highlighted that the event would also support Saudi Vision 2030 goals for economic diversification and tourism development.
Mike Champion, CEO of Tahaluf, expressed his pride in partnering with Sela to organize the show over the next 10 years.
He added that the company would leverage its global network to attract leading companies, brands, and investors in the marine tourism sector, positioning the show as an international platform for forging partnerships, concluding business deals, and showcasing the latest developments in the industry.
“The Red Sea possesses unique natural assets that qualify it to become one of the world’s leading yachting destinations,” Champion said.
The CEO added that Tahaluf and its partners are working to deliver the inaugural edition next year, meet the expectations of exhibitors and visitors, and build an event that grows with each edition and contributes to the development of Saudi Arabia’s marine tourism sector.
Show targets 10,000 visitors in inaugural edition
The inaugural edition aims to attract more than 50 luxury yachts, 150 exhibitors and over 10,000 visitors, including yacht owners and industry professionals.
Organizers are targeting an economic impact exceeding $500 million through yacht sales and charters, as well as luxury tourism.
The show will also showcase Saudi Arabia’s marine investments, valued at $22.4 billion, alongside major Red Sea development projects, including Sindalah and AMAALA.
Growth over 3 editions
Organizers have set growth targets for the show’s first three editions, with the number of participating luxury yachts expected to exceed 70 in the second edition and 90 in the third, while visitor numbers are projected to rise to 20,000 and 40,000, respectively.
The number of participating brands is targeted to increase to around 200 in the second edition and 300 in the third, with the show’s projected economic impact expected to reach $800 million in the second edition and $1.2 billion in the third.
Sela and Tahaluf will jointly organize and promote the event, expand its international reach, and develop the technical capabilities and specialized services needed to sustain it over the decade-long deal, intended to strengthen Jeddah’s position as an international tourism and economic destination in line with Vision 2030.
The Jeddah Yacht Club and Marina, which will host the show, has 94 berths capable of accommodating yachts of up to 120 meters, with facilities built to international industry standards.
In September, the Saudi Red Sea Authority signed a separate agreement with Tahaluf Events Ltd to support the show’s organization, with the authority serving as its government sponsor.
The partnership aims to promote investment opportunities across the yachting, marina and marine-services sectors and strengthen connections between yacht owners, service providers and investors.
Source – Arab News
