The company’s efforts have been focused on infrastructure but this new phase includes resorts, villas and hotels
According to chief administrative officer Ahmed Darwish, The Red Sea Development Company will award SR1 billion (US$267 million) worth of contracts a month as it moves to the next phase.
Owned by Saudi Arabia’s Public Investment Fund, The Red Sea Development Company is building the Red Sea Project, a 28,000sqkm sustainable tourism resort featuring more than 90 islands, along the kingdom’s west coast. By the time the project is completed in 2030, it will comprise 50 hotels with 8,000 rooms and 1,300 residential properties.
The first phase – 16 hotels, luxury marinas, golf courses and recreational facilities across five islands and two inland sites – will begin opening in late 2022.
Sustainability and preserving the natural environment is a key focus of the project. CEO John Pagano says: “At the end of the day, our environment is our most valuable asset. It’s making sure that we balance the desire to build, and build it in a timely fashion, but never to the extent where we put at risk the very thing that will make this place so special.”
To achieve its sustainability goals, the company hired global consultancy firm WSP to provide an environmental and social impact assessment for its Coral Bloom resorts project. WSP Middle East’s work includes identifying habitats affected during the project’s lifecycle to ensure sustainability, regeneration,and preservation.
For more information, visit www.theredsea.sa