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Local Name:
مشروع البحر الأحمر
Budget:
$27B
Announced:
31 Jul 2017
Construction Start:
07 Aug 2019
Opening:
2030
Area:
  1. Saudi mountain resort Desert Rock nears opening, hits 50% construction, says Red Sea Global. Construction at Desert Rock in Saudi Arabia began in July 2021, with the first-phase to be completed by 2023, with 16 hotels.


    Desert Rock, which is designed by Miami-based Oppenheim Architecture, is resort that blends into the mountain. Visitors at the upcoming resort can reach the entrance via a concealed valley that leads to many lodgings built into the rock. The resort can accommodate 60 keys in total, distributed across 50 villas and 10 hotel rooms, which are excavated from the mountain’s core.
    source: https://www.arabianbusiness.com/industries/construction/saudi-mountain-resort-desert-rock-nears-opening-hits-50-construction-says-red-sea-global

  2. HunterX is offline resortX Top Investigator
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  4. BurningSky is offline resortX Top Investigator
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    Red Sea Global marks six-years of progress with impressive Red Sea phase one construction update
    This month marks six years since The Red Sea was first announced by His Royal Highness the Saudi Crown Prince Mohammad bin Salman as an international tourist destination as part of the Kingdom's 2030 Vision. Now, with The Red Sea’s first three hotels and phase one of the international airport on track to open later this year, its latest construction update reveals the remarkable progress achieved across the destination, including at a further 13 hotels and on the supporting infrastructure.


    Resort construction updates

    Desert Rock, a unique mountain resort being built into the rockface, is more than 50 per cent complete overall. RSG has fully excavated and formed the 10 rooms integrated into the mountainside, as well as all 195m of tunnelling. Major structural and infrastructure works are well advanced, including the construction of the wadi villas, guest hubs, back of house, and other structures.

    Work is ongoing on all 11 resorts and infrastructure across Shura Island. Over 100 construction contracts are in place, with a similar number out in the market for tender. RSG continues to maximize use of off-site manufacturing with precast structures progressing rapidly, bathroom pod deliveries underway, and the prefabricated timber structure on the Golf Clubhouse nearing completion. The developer is moving onto beach formation and beautification works which includes the creation of new mangrove habitats in the coming months.

    On Sheybarah Island, RSG has now installed all 38 stainless steel overwater villas. While the first overwater villa took nine hours to install, the developer perfected this process so that it now requires less than two hours. The first beach villas have arrived at the island, one of which has successfully been installed. The developer is also making substantial progress on other front and back of house structures and infrastructure, including foundation work on the spa and two specialized restaurants.
    Source: https://www.zawya.com/en/press-release/companies-news/red-sea-global-marks-six-years-of-progress-with-impressive-red-sea-phase-one-construction-update-xlbpaaw3

  5. BurningSky is offline resortX Top Investigator
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  8. mrg
    mrg is offline resortX Top Investigator
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    Red Sea International Airport

















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

  9. 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

  10. 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

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