PIF Launches Saudi Arabia’s First National Duty-Free Retailer, Al Waha

Riyadh, March 12, 2025 – The Public Investment Fund (PIF) has announced the launch of Al Waha Duty-Free Company (Al Waha), Saudi Arabia’s first locally owned duty-free travel retailer, marking a significant milestone in the Kingdom’s retail and tourism industries.

Al Waha, a wholly owned subsidiary of PIF, aims to enhance Saudi Arabia’s share of global travel retail spending by developing luxury retail outlets at airports, land border crossings, and seaports, as well as expanding into inflight shopping channels. The new company will offer a diverse range of premium international brands alongside distinctive, high-quality Saudi products, catering to both local and international travelers.

Majed Al-Assaf, Head of Consumer Goods and Retail in MENA Investments at PIF, emphasized Al Waha’s role in supporting Saudi Arabia’s tourism ambitions, stating:"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. Al Waha will offer a distinctive traveler experience through diverse product offerings, a duty-free operation, and a superior digital customer journey."

Al-Assaf added that Saudi Arabia’s increasing influx of visitors and its hosting of global events create new opportunities for sustainable travel retail revenues, positioning the Kingdom as a key player in the global duty-free market.

The launch of Al Waha aligns with PIF’s broader strategy to unlock key sectors that contribute to economic diversification, in line with Saudi Vision 2030.