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Red Sea Global's contribution to Saudi Vision 2030

 

Red Sea Global actively involved in realizing of Saudi Vision 2030

Saudi-based developer Red Sea Global (RSG) is actively involved in realizing Saudi Arabia's Vision 2030 plan, aiming for economic, social, and cultural diversification. As part of this vision, RSG, wholly owned by Saudi Arabia's Public Investment Fund (PIF), is overseeing two monumental "giga projects" on the Red Sea coast: The Red Sea destination and the Amaala destination.

The Red Sea destination, already open to guests, is slated to feature 50 hotels, 8,000 rooms, up to 1,000 residential properties, and its own international airport by 2030. Amaala, located about 150 miles down the coast, is positioned as a premier luxury wellness and sports retreat.

 

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Ben Edwards, Group Head of Cost, Commercial & Procurement for RSG, emphasizes the company's commitment to prioritize people and the planet, aiming to enhance well-being for guests, communities, and environments. Edwards oversees three key departments: Cost, Procurement, and Commercial, with the team expanding daily and currently numbering 605 individuals.

The primary challenge faced by Edwards and his team is the immense scale of the projects and the limitations of the Saudi supply chain. To address this challenge, RSG has embarked on a global procurement roadshow, successfully attracting companies worldwide to participate in tenders for RSG projects. Events in Qatar, Egypt, Turkey, the UK, Germany, South Korea, and Japan have resulted in significant contract awards, demonstrating the effectiveness of this outreach.

 

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Edwards underscores the importance of overseas events, not only for RSG but also for other giga projects, encouraging collaboration and information sharing among developers. Many overseas companies joining RSG's supply chain establish a local presence in Saudi Arabia, with streamlined processes facilitated by the Ministry of Investment and various incentive programs led by PIF.

While some companies choose to set up operations, others opt for joint ventures (JVs) as a softer entry into the market, particularly in construction. RSG facilitates JVs by connecting overseas companies with suitable local partners, fostering collaboration and expertise exchange.

 

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Delivery of such colossal projects involves managing a complex workforce and resources while maintaining high standards of quality and environmental protection. RSG prioritizes safety, quality, and environmental preservation, leveraging its team of experienced environmental specialists.

In addition to operational challenges, RSG recognizes its role in fulfilling the social aspects of Vision 2030. The company actively creates opportunities for young Saudi talent through programs like hospitality scholarships, vocational training initiatives, and an elite graduate program, ensuring the development of skilled professionals who will lead future projects. RSG's efforts align with the broader goal of transforming Saudi Arabia's tourism industry from predominantly religious tourism to a diverse and vibrant sector.

 

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In conclusion, Red Sea Global's endeavors reflect a commitment to Vision 2030, contributing to the transformation of Saudi Arabia's economic landscape while fostering sustainability, collaboration, and the development of local talent.

Source: https://sustainabilitymag.com/

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