Saudi Arabia’s Red Sea Global to issue IPO, REITs to arrange new finances
Red Sea Global is exploring new financing
options, including an initial public offering and real estate investment
trusts, as its luxury resorts move closer to full-scale operations, CEO John
Pagano told Al-Eqtisadiah.
While no final decision has been made, Pagano
noted that the company is capitalizing on strong momentum, with several resorts
already open and more set to launch this year.
Shoura Island, the centerpiece of the Red Sea
destination, will debut 11 luxury resorts in 2025, operated by global
hospitality brands including Rosewood, Four Seasons, Grand Hyatt, EDITION, and
Raffles.
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Sea Global venturing into hotel management
Progress is also accelerating at Amaala, the
wellness-focused destination where core infrastructure is complete and the
first hotels are nearing launch. The project is scheduled to open by year-end,
featuring brands such as Jayasom, Six Senses, Rosewood, Equinox, and Clinique
La Prairie.
So far, six resorts have opened under the Red
Sea brand, including Desert Rock and Shebara, which are fully owned and
operated by Red Sea Global. The exclusive Thuwal Private Retreat has also been
unveiled as the company’s third destination.
In addition, Red Sea Global has rolled out
residential offerings on Shoura and Ummhat islands, while announcing Lahak
Island earlier this year—attracting strong domestic and international investor
interest.
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at the core of Red Sea Global’s projects
With multiple openings scheduled in the months
ahead, Pagano said the company remains committed to developing destinations
that blend luxury hospitality, wellness, and environmental stewardship.
Source: Arab News
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