Activities
Tourism Enterprise Company (SHAMS), is a luxury tourism firm based in Saudi Arabia. SHAMS is listed on the TADAWUL (Saudi joint stock market) since 1996. It boasts a market capital value exceeding 340 million Saudi Riyal. The Company is engaged in managing hotels, furnished residential units, chalets, tourist inns, resorts, wedding halls and events with accommodation, management of tourist accommodation facilities, camps, restaurants, coffee shops, buffets (cafeterias), rental of bicycles, amusement parks, entertainment centers, organization of recreational activities and operation of entertainment facilities. Currently, the main activity of the Company is to manage tourism project (Palm Beach Resort), which is located on a leased land from the Municipality of Dammam for 40 years from the date of 1 Muharram 1410H (corresponding to 3 August 1989G), ending on 30 Dhul Hijjah 1450H (corresponding to 14 May 2029G), without specifying in the contract on the possibility of renewing the lease contract. SHAMS is on a growth trajectory. They are expanding their footprint within the Kingdom of Saudi Arabia, reaching cosmopolitan cities, heritage destinations, uncharted beaches, and contemporary resort spots. SHAMS aspires to be a leader in the tourism sector, adhering to international standards while maintaining a local essence. Their commitment extends to hospitality, accommodation, and travel services.
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