Red Sea Development Company and AMAALA, the developers behind the regenerative tourism projects have confirmed a merge to form Red Sea Global (RSG).
The announcement revealed a new logo concept and brand inspired by the Red Sea.
The Red Sea destination is on track to welcome visitors by early 2023, RSG’s mandate has expanded to oversee over a dozen projects along the coast of Saudi Arabia’s Red Sea, with potential expansion into the kingdom in the future.
“The announcement today marks the start of our evolution into a truly global developer that can lead the category towards a new archetype for development. We are powered by extraordinary people from the kingdom and beyond, and have the skills, knowledge, and experience required to succeed on the world stage,” said John Pagano, CEO of The Red Sea Development Company.
“We are not only expanding our footprint to help create massive economic opportunities – valued at hundreds of billions worth of riyals – for the people of Saudi Arabia. We also want to set new global standards in development and inspire the industry to do better,” he added.
RSG has a portfolio of projects along the Red Sea coast of Saudi Arabia with additional projects underway, the expansion also includes the establishment of subsidiary businesses to drive the tourism sector.
The existing projects underway are projected to contribute over 33 billion riyals to Saudi Arabia’s economy on completion, RSG also intends to focus on comprehensive training programs for the next generation of Saudi talent.
Red Sea Global has pledged to contribute a 30 percent net conservation benefit to the projects’ area by 2040.
Follow us on
