Red Sea Global to see growth in investments in hospitality and real estate sectors

 

Red Sea Global expects significant investments in various sectors in 2025

As Saudi Arabia pushes toward its Vision 2030 goal of becoming a premier global tourism destination, Red Sea Global (RSG), a Public Investment Fund-owned entity, is making significant strides in its flagship Red Sea and Amaala projects. The company expects substantial growth in investment opportunities in 2025, particularly in the hospitality and real estate sectors.

Key Financial Milestones and Progress

In October, RSG announced the financial closing of a $1.5 billion multi-utility infrastructure project at Amaala. The project, developed in partnership with EDF Group, Masdar, East West Power, and Suez, represents a major step in sustainable development.

 

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Ben Edwards, Executive Director of Cost, Commercial, and Procurement at RSG, highlighted at the Cityscape Global 2024 exhibition in Riyadh that the company opened its first resorts, including St. Regis and Ritz-Carlton properties, by early 2024.

Upcoming Developments for 2025

Edwards described 2025 as a transformative year for RSG, with major milestones at both Red Sea and Amaala:

• Shura Island: Completion of 11 luxury hotels from globally renowned brands, surrounding an 18-hole golf course.
• Triple Bay (Amaala): The first phase will feature eight hotels, a Yacht Club, and a Marine Life Institute.

RSG is actively inviting investors to explore opportunities in these developments, offering real estate investments near the Shura golf course and within Amaala. The company is also engaging service providers, contractors, and suppliers for ongoing and future projects.

Commitment to Sustainability

Sustainability underpins all RSG projects. Both destinations operate exclusively on renewable energy, with over 760,000 solar panels and the world’s largest solar energy storage facility in place. Environmental initiatives include the ambitious planting of 1.5 million mangrove trees to date, with a target of 50 million by 2030.

 

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Economic Impact

RSG has awarded over 600 contracts valued at approximately SAR 23 billion ($6.13 billion) to local and international partners. The Red Sea project, spanning 28,000 square kilometers, is home to the world’s fourth-largest thriving coral reef system. By 2030, the destination aims to attract up to one million visitors annually, further boosting Saudi Arabia’s tourism and investment landscape.

Edwards concluded, “We are proud to be leading projects that combine luxury, sustainability, and innovation, and we welcome partners to join us in realizing the immense potential of the Red Sea and Amaala developments.”

Source: Asharq Al-Awsat