Amaala (Red Sea Global)
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Designed to evolve and elevate the very best in travel,*AMAALA is an ultra-luxury destination and the first global integrated family wellness destination, set to curate transformative personal journeys inspired by arts, wellness, and the purity of the Red Sea.

According to Jay Rosen, group chief financial*officer*at The Red Sea Development Company and AMAALA, the first phase will be completed by the end of 2024.

Work is well underway on-site to progress enabling infrastructure, groundwork, and key assets with more than 1,000 workers already on site. More than 250 contracts have been awarded to date in excess of 5 billion riyals, with nearly $266.6 awarded in the first quarter of this year alone, as delivery of the project ramps up on site

https://twitter.com/AMAALA
https://www.arabnews.com/node/2036911/business-economy
https://meconstructionnews.com/52089/exclusive-amaala-expects-to-award-319-9m-in-contracts-in-q2-2022

The end of the year promises to be interesting also because many projects related to sustainable development and new tourism destinations are coming to fruition.

In an exclusive statement to MEConstructionNews.com, AMAALA said that the second quarter of the year would see a ramp up in operations, with an estimated $319.9 million set to be awarded. The developer added that around 70% of the total value awarded has gone to Saudi firms.

Sources:
https://gulfnews.com/business/regenerating-the-environment-how-the-red-sea-development-company-leads-the-way-for-luxury-travel-destinations-1.1651059454067

According to the Chief Financial Officer of Amaala Jay Rosen, the first phase of the project will be completed by 2024. Meanwhile, construction camps are preparing with a 5,000 unit construction village for contractors. In February, a contract has been signed with Haif Trading and Contracting Co., for building the infrastructure of the first phase.

On 8 March 2022 the Amaala project has been awarded two ISO certifications pertaining to Risk Management and Business Continuity Management Systems. (ISO31000:2018 and ISO22301:2019)

AMAALA’s ISO31000:2018 certification is a result of the implementation of a rigorous process towards risk identification, analysis, evaluation, and treatment that adhere to the destination’s business objectives. The audit successfully recognized the efficiencies of AMAALA’s risk management strategy, which guaranteed confident risk reporting, successful decision making, and accountability across the organization.

For the ISO 22301:2019 certification, BSI conducted an audit on the current operations of the organization, analyzing the strategic direction of the management system and comparing the current resilience controls and arrangements that have been put in place against the overall strategic goals of the organization and its risk appetite. BSI found AMAALA’s approach to Resilience and its components of Crisis Management and Business Continuity to be compliant with the standard. This competence will continue to be re-assessed annually to ensure the highest levels of implementation are maintained.

There has been a lot of media coverage on the project, especially on the official Linkedin of Amaala. Many posts attribute the advantages that the project will have on the local environment and economy. However, not much is happening on-site according to Google Maps 2022.




Source:
1.https://www.google.com/maps/place/AMAALA/@26.6441087,36.219999,1902m/data=!3m1!1e3!4m5!3m4!1s0x15ae1741c0d2a63b:0xbc1aea73fcc444!8m2!3d26.6453553!4d36.2242154
2.https://www.linkedin.com/company/amaala/posts/?feedView=images
3.https://www.amaala.com/en/newsroom/amaala-earns-global-certification-for-risk-and-resilience
4.https://www.arabnews.com/node/2036911/business-economy

https://www.linkedin.com/posts/james-allen-7551832b_glorious-amaala-activity-6918081949219577856-elpc/

AMAALA awards contract for secondary infra development at Employee Village

Source: https://www.constructionweekonline.com/projects-tenders/amaala-contract

https://www.linkedin.com/posts/mickjames77_i-spent-a-great-day-yesterday-being-shown-ugcPost-6901772634116243456-iWCY/

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