Company Insights Red Sea Global Real Estate Latest Red Sea Global DevelopmentsAI Insights Red Sea Global installed radar and remote sensors as an early detection system for oil spills alongside routine marine patrols. It integrated this system into the Red Sea giga-project. Red Sea Global plans a marine life institute that will open next year to mix scientific work with interactive education to change visitor perspectives and encourage their efforts toward ocean restoration.1 The company is seeking a second credit facility worth approximately SAR14 billion to advance luxury hotel openings on the Red Sea coast. The company's search for additional investors reflects efforts to bolster Public Investment Fund financial support as it progresses with high-end commercial projects.2 Red Sea Global's destination embedded regeneration within its core focus, aiming for coral reef restoration, mangrove reforestation, and restricted development on 22 islands. The company aligns with Saudi Arabia's Vision 2030 to pioneering regenerative tourism, balancing environmental objectives alongside economic growth.3 Red Sea Global plans to open 19 new luxury hotels in 2025. It focuses on high-end tourism to firmly position Saudi Arabia on the world tourism map. In 2023, the company opened its first resort and will open two more resorts this year, including Desert Rock, a luxury hotel embedded into a mountainside.4 Saudi Arabia focuses on affluent adventure and wellness tourism at Red Sea Global and other locations. Red Sea Global is among the many initiatives set by Saudi Arabia to attract tourists in alignment with its objective to have tourism contribute 10 percent of GDP by 2030.5 Red Sea Global Overview Formerly known as The Red Sea Development Company, Red Sea Global (RSG) is a vertically integrated real estate developer with a portfolio including tourism, residential, experiences, infrastructure, transport and healthcare. Established in 2017 by Crown Prince Mohammed bin Salman, Red Sea Global is wholly owned by the Public Investment Fund (PIF) and plays a significant role in Saudi Arabia’s Vision 2030 which aims to diversify the nation’s economy through sustainable tourism and development. RSG is developing a number of luxury sustainable tourism destinations along Saudi Arabia’s west coast. Its flagship project, The Red Sea Project, encompasses an archipelago of 92 islands and is set to include 50 resorts upon completion in 2030. The first resort began welcoming guests in 2023. Red Sea Global is also developing the luxury Amaala destination of 29 resorts, with the first phase expected to open in 2025. A third destination, Thuwal Private Retreat, opened in 2024. In addition the company is refurbishing Al Wajh Airport, focused on upgrading the existing terminal and infrastructure and building a new international terminal. Red Sea Global says its aim is to lead the world towards a more sustainable future, showing how responsible development can uplift communities, drive economies, and enhance the environment. Red Sea Global News Tourism Red Sea Global’s airport ‘racing towards completion’ Red Sea International Airport will be “fully operational” within “a couple of months”, according to an executive at Red Sea Global. The airport “is racing towards completion”, said Ben Edwards, group head of cost, commercial and procurement at the Saudi resort developer. “We’re gradually seeing the network of flight operations increasing as the demand in […] May 13, 2025 Tourism Best Western Hotels to increase Saudi footprint Best Western Hotels and Resorts plans to increase more than six-fold the number of hotels it operates in Saudi Arabia to tap a growing market in domestic and international business and leisure travel, the Arizona-based company said. BWH currently runs seven hotels, has 21 under development and is targeting as many as 45 by the […] May 12, 2025 Analysis Tourism Riyadh wants the world to visit the ‘Arabian Highlands’ of Aseer The streets of Abha become festooned with lilacs and mauves throughout May, when the city’s 25,000 jacaranda trees come into bloom. Pockets of purple burst throughout the hilltop capital of the southern province of Aseer, bringing an increasing number of tourists. Aseer’s botanical diversity has helped it become the fastest growing tourism prospect in Saudi […] May 8, 2025 Tourism ‘Tourism is the new oil’, says man trying to bring 150 million people to Saudi Investment in tourism will remain a priority in Saudi Arabia despite falling oil prices and increased budgetary pressures, according to the kingdom’s top industry official. The underserved three-star and four-star hotel sector is a particular focus, Fahd Hamidaddin, CEO of the Saudi Tourism Authority, told AGBI. “The darker it gets, the more reason we should […] May 2, 2025 Giga-projects PIF’s Red Sea Global plans Saudi and overseas expansion Red Sea Global is expanding beyond its west coast base to develop hotels and other projects in Saudi Arabia and overseas, a company executive has said. The company will probably announce a new project in a Saudi city later this year, head of hospitality Sébastien Carre told AGBI on the sidelines of Arabian Travel Market […] April 30, 2025 Giga-projects Red Sea giga-project launches new island despite PIF budget cuts Saudi Arabia’s Red Sea Global has launched its first island development on the $23.6 billion Red Sea giga-project. The opening comes despite the $925 billion Public Investment Fund ordering deep spending cuts across more than 100 of its companies, as AGBI reported last month. Some budgets have been cut by as much as 60 percent, sources said, […] April 16, 2025 EXCLUSIVE Giga-projects PIF spending cuts slow giga-projects and trigger layoffs Saudi Arabia’s $925 billion Public Investment Fund (PIF) has ordered deep spending cuts across more than 100 of its companies, slowing projects and triggering layoffs, people familiar with the matter have told AGBI. The sovereign wealth fund at the heart of the government’s economic transformation strategy is mandating a minimum 20 percent reduction in 2025 […] March 24, 2025 Opinion Tourism The future of Middle East tourism must be regenerative How can we shift from reducing harm to regenerating the environments on which we depend? January 7, 2025 Analysis Sustainability Red Sea coral to get extra protection from tourists Saudi Arabia has vowed to implement a series of measures to protect its Red Sea coral reef over the next five years as it pushes ahead with major tourism projects in the area. But experts have warned that Saudi coral remains at risk, even with major spending policies. According to the National Red Sea Sustainability […] December 12, 2024 Giga-projects New Murabba CEO promises Riyadh district’s core by 2030 The New Murabba giga-project, which aims to create a 19-sq-km city district in Riyadh, will be up and running by December 2030, its CEO said this week. Michael Dyke told a tourism forum in Dubai: “What’s important is to say that New Murabba is real, tangible today. It’s physically there, it’s not something on a piece […] October 3, 2024 Posts navigation 1 2 … 8 Next
Tourism Red Sea Global’s airport ‘racing towards completion’ Red Sea International Airport will be “fully operational” within “a couple of months”, according to an executive at Red Sea Global. The airport “is racing towards completion”, said Ben Edwards, group head of cost, commercial and procurement at the Saudi resort developer. “We’re gradually seeing the network of flight operations increasing as the demand in […] May 13, 2025
Tourism Best Western Hotels to increase Saudi footprint Best Western Hotels and Resorts plans to increase more than six-fold the number of hotels it operates in Saudi Arabia to tap a growing market in domestic and international business and leisure travel, the Arizona-based company said. BWH currently runs seven hotels, has 21 under development and is targeting as many as 45 by the […] May 12, 2025
Analysis Tourism Riyadh wants the world to visit the ‘Arabian Highlands’ of Aseer The streets of Abha become festooned with lilacs and mauves throughout May, when the city’s 25,000 jacaranda trees come into bloom. Pockets of purple burst throughout the hilltop capital of the southern province of Aseer, bringing an increasing number of tourists. Aseer’s botanical diversity has helped it become the fastest growing tourism prospect in Saudi […] May 8, 2025
Tourism ‘Tourism is the new oil’, says man trying to bring 150 million people to Saudi Investment in tourism will remain a priority in Saudi Arabia despite falling oil prices and increased budgetary pressures, according to the kingdom’s top industry official. The underserved three-star and four-star hotel sector is a particular focus, Fahd Hamidaddin, CEO of the Saudi Tourism Authority, told AGBI. “The darker it gets, the more reason we should […] May 2, 2025
Giga-projects PIF’s Red Sea Global plans Saudi and overseas expansion Red Sea Global is expanding beyond its west coast base to develop hotels and other projects in Saudi Arabia and overseas, a company executive has said. The company will probably announce a new project in a Saudi city later this year, head of hospitality Sébastien Carre told AGBI on the sidelines of Arabian Travel Market […] April 30, 2025
Giga-projects Red Sea giga-project launches new island despite PIF budget cuts Saudi Arabia’s Red Sea Global has launched its first island development on the $23.6 billion Red Sea giga-project. The opening comes despite the $925 billion Public Investment Fund ordering deep spending cuts across more than 100 of its companies, as AGBI reported last month. Some budgets have been cut by as much as 60 percent, sources said, […] April 16, 2025
EXCLUSIVE Giga-projects PIF spending cuts slow giga-projects and trigger layoffs Saudi Arabia’s $925 billion Public Investment Fund (PIF) has ordered deep spending cuts across more than 100 of its companies, slowing projects and triggering layoffs, people familiar with the matter have told AGBI. The sovereign wealth fund at the heart of the government’s economic transformation strategy is mandating a minimum 20 percent reduction in 2025 […] March 24, 2025
Opinion Tourism The future of Middle East tourism must be regenerative How can we shift from reducing harm to regenerating the environments on which we depend? January 7, 2025
Analysis Sustainability Red Sea coral to get extra protection from tourists Saudi Arabia has vowed to implement a series of measures to protect its Red Sea coral reef over the next five years as it pushes ahead with major tourism projects in the area. But experts have warned that Saudi coral remains at risk, even with major spending policies. According to the National Red Sea Sustainability […] December 12, 2024
Giga-projects New Murabba CEO promises Riyadh district’s core by 2030 The New Murabba giga-project, which aims to create a 19-sq-km city district in Riyadh, will be up and running by December 2030, its CEO said this week. Michael Dyke told a tourism forum in Dubai: “What’s important is to say that New Murabba is real, tangible today. It’s physically there, it’s not something on a piece […] October 3, 2024
