Travel, Tourism & Hospitality
RSG awards $266m contracts for Saudi ultra-luxury tourism hub
Red Sea Global (RSG), a global multi-project developer in Saudi Arabia, has awarded a SR1 billion ($266 million) contract to deliver the first phase of development at Amaala, an ultra-luxury tourism destination on the kingdom’s north-western coast.
Saudi-based Red Sea Global (RSG) has awarded a primary infrastructure and utility contract worth nearly SR1 billion ($266 million) to Al Ayuni Investment and Contracting Company to deliver the first phase of development at Amaala, an ultra-luxury tourism destination located along the Kingdom’s north-western coast, across its Triple Bay masterplan.
A cornerstone of Saudi Arabia’s Vision 2030 ambition to diversify its economy, RSG is the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala.
According to RSG, Amaala’s first phase of development, focused on the Triple Bay masterplan, will encompass eight hotels and upwards of 1,200 hotel keys, upon full completion in 2027.
The destination will offer 3,000 hotel rooms across 25 hotels as well as high-end retail establishments, fine dining, wellness, and recreational facilities, it stated.
As per the deal, Al Ayuni will be responsible for delivering primary utility infrastructure systems, while minimizing Triple Bay’s carbon footprint as part of Amaala’s commitment towards net-zero operations, it added.
"Today’s infrastructure deal forms a critical part of Red Sea Global’s ambition to pioneer a new relationship between luxury tourism and the natural environment," remarked its Group CEO John Pagano.
"The sheer scale of the developments and our relentless pursuit of regenerative tourism require meaningful partnerships that can deliver resilient infrastructure. Together with Al Ayuni, we are confident that we can collectively shape the future of developments in the Kingdom and beyond," noted Pagano.
Group Chairman Faheed Al Ayuni said: "Red Sea Global is a future-forward developer that is closely aligned with our legacy of innovating world-class solutions, cementing trusted relationships, and setting new benchmarks."
All design and construction methods meet RSG’s stringent criteria for end-to-end sustainable development, including economic, financial, social, and institutional factors, he stated.
"It is an honour for us to contribute to its pioneering destinations and we look forward to unlocking the full breadth of our robust capabilities to meet RSG’s ambitious sustainability targets," he added.-TradeArabia News Service