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Local Name:
مشروع البحر الأحمر
Budget:
$27B
Announced:
31 Jul 2017
Construction Start:
07 Aug 2019
Opening:
2030
Area:
  1. BurningSky is offline resortX Top Investigator
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  2. BurningSky is offline resortX Top Investigator
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  3. BurningSky is offline resortX Top Investigator
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  4. mrg
    mrg is offline resortX Top Investigator
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    Red Sea International Airport

















    https://goo.gl/maps/3Y3TK7NQ98PKDW9U9

  5. ResortsAhoy is offline resortX Top Investigator
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    The company behind a major tourism destination on Saudi Arabia’s Red Sea coast, a cornerstone of the kingdom’s push to attract tourists and diversify its economy, is considering a possible public market offering as soon as 2026.
    “There will be some kind of public market event, whether it’s an initial public offering, whether it’s an establishment of a REIT, those are things that we’re currently studying, John Pagano, chief executive of Red Sea Global, said in an interview in Dubai.

    The firm is in early talks with banks and stakeholders, Pagano said, without disclosing details on advisers, banks or valuation. An offering is likely by 2026 or 2027 once the hotels have been operational for about two years, with a track record of occupancy, cash flow and profitability. The main focus now is to establish a revenue stream that helps underpin value, he said.
    Source: https://english.alarabiya.net/amp/News/saudi-arabia/2023/05/08/Saudi-Red-Sea-developer-weighs-public-offering-as-soon-as-2026

  6. ResortsAhoy is offline resortX Top Investigator
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    International engineering and consulting firm ILF has been brought in to oversee the implementation of a Red Sea Global carbon-neutral utility system.
    The developer of the $1.5bn utility system is a consortium made up of SPIC Huanghe Hydropower Development Company and Saudi Tabreed Cooling Company and led by Tadawul-listed ACWA Power as part of a signed 25-year agreement that stipulates the building, owning, operation, and transfer of the project.
    In addition to leading the construction, engineering, operations, and maintenance of the plant, ACWA Power’s contract also necessitates the provision of three seawater reverse osmosis (SWRO) plants transferring up to 32,500 cubic meters of clean drinking water per day, featuring a waste management centre and an innovative sewage treatment plant.
    Source: https://www.mepmiddleeast.com/projects/ilf-consulting-wins-1-5bn-red-sea-global-project

  7. ResortsAhoy is offline resortX Top Investigator
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    The first three resorts at Saudi Arabia’s Red Sea will open later than orginally planned. It was announced in January that the first three hotels would open in May 2023. That date has now been moved closer to the end of the year.

    The official line is Six Senses Southern Dunes from IHG will open in the “next few months,” while Nujuma, A Ritz-Carlton Reserve and St. Regis The Red Sea from Marriott have been moved further back. The change was confirmed by Abdullah AlZahrani, executive director – global brand development and marketing at Red Sea Global.
    Source: https://www.hoteliermiddleeast.com/properties/red-sea-resorts-opening-date-2023

  8. ResortsAhoy is offline resortX Top Investigator
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    Images of the first hotel rooms at The Red Sea giga-project have been released. The St. Regis The Red Sea has revealed interior images as it gets ready to be of the first properties to open at The Red Sea in Saudi Arabia.





    Source: https://www.hoteliermiddleeast.com/saudi-arabia/revealed-what-the-first-hotel-rooms-at-the-red-sea-giga-project-look-like

  9. mrg
    mrg is offline resortX Top Investigator
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  10. mrg
    mrg is offline resortX Top Investigator
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