Amaala (Red Sea Global)
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AMAALA is a key participant of Vision 2030. The main goals of the national Saudi Arabia’s project «Vision 2030» are the development of the private sector and the creation of a dynamic society through diversification as well as increasing the country’s competitiveness in international trade. Tourism underlies this new Vision.

There are 3 big touristic projects in Saudi Arabia: AMAALA, NEOM, and The Red Sea Project.

Amaala Company reported that it had awarded more than 230 contracts with a total value of 3.6 billion riyals (one billion dollars) for local and international companies. In a statement on its official Twitter account, the company said that 78% of the contracts were awarded to Saudi companies as part of its commitment to Saudi Vision 2030 and its contribution to supporting the Saudi economy.

Amaala and The Red Sea Project, wholly owned by the Saudi Public Investment Fund, will most likely merge into the Red Sea Group by the end of the year 2022. “The coming together of the two organizations is a natural evolution,” CEO of the Red Sea Development Company and the Amaala project said.

Amaala’s target market is the rich, yacht-owning, luxury, high-spending clientele seeking exclusive transformative and discerning holiday experiences. They are the top 2.5 million ultra-high net worth individuals or UHNWIs in luxury travel.

The AMAALA Project, located in the Prince Mohammed bin Salman Nature Reserve in northwest Saudi Arabia, is set to be one of the premier cultural, luxury, and wellness destinations in the world. Established to be a year-round enterprise, the project encompasses 2,800 km2. The center of this development is Miraya, whose cultural hub will be the Red Sea Contemporary Art Museum. The cultural district of Miraya is set to be 60,000 square meters in total, and the entire development is expected to cost $15 billion USD. The AMAALA Group, controlled by Saudi Arabia’s Public Investment Fund, has also planned an Island Development as well as a wellness retreat dubbed Triple Bay.

The AMAALA Project has a focus on creating a global destination for travelers that accesses Saudi Arabia’s rich archaeological history while maintaining the nature and ecosystem of the Red Sea, which features an extensive coral and marine life base. GCAM’s programming and development both highlights and complements this expansive ecosystem. The project, established in 2018, broke ground in 2019 and is set to be fully complete in 2028.

Source: http://www.gcamgroup.com/amaala

Looking spectacular:






Source:
https://saudiconfidential.com/amaala-development-foster-partners/

Status: announced