Saudi Arabia’s luxury train has secured funding. Italian hospitality firm Arsenale agreed to a partnership with SIMEST, which supports Italian firms expanding internationally, and the Saudi Tourism Development Fund in order to develop the “Dream of the Desert.” Italian backers are injecting €37 million ($44 million) in equity, while the Saudi fund is providing a €35 million loan.
The 66-passenger train will offer one- and two-night journeys from Riyadh to destinations including Hail and the UNESCO-listed AlUla. Cabins start at 30,000 riyals ($8,000) per night. The project is the kingdom’s latest bet on wealthy travelers as part of its broader tourism push, building on a portfolio that includes resorts on the Red Sea and AlUla’s development.