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.
Trade
to play a key role in promoting Red Sea Global development: Tracy Lanza
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.
Red
Sea Global: Navigating Saudi Arabia's watersports transformation
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.
Red
Sea Global’s procurement show in Istanbul garners interest from private
entities
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.
Red
Sea Global’s off-grid charging network to cater to electric cars
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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