Red Sea Global

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Red Sea Global
Native name
البحر الأحمر الدولية
FormerlyThe Red Sea Development Company (TRSDC)
Company type Private
Industry Real estate development
Founded31 July 2017;7 years ago (2017-07-31) [1]
Founder Mohammed bin Salman
Headquarters,
Key people
Owner Public Investment Fund
Subsidiaries The Red Sea Project
Amaala
Thuwal
Shebara
Fly Red Sea
Website www.redseaglobal.com/en/

Red Sea Global (RSG; Arabic : البحر الأحمر الدولية), previously known as The Red Sea Development Company, [4] is a real estate development company based in Tabuk, Saudi Arabia. The company was founded in July 2017 by the Saudi crown prince Mohammed bin Salman, and is owned by the Public Investment Fund. [5] As one of Saudi Arabia's Vision 2030 goals, Red Sea Global aims to diversify the Saudi economy away from fossil fuels by contributing to the growth of its tourism sector. [6]

Contents

History

Red Sea Global was officially launched by the Saudi Public Investment Fund on 31 July 2017 as "The Red Sea Development Company". It is one of the 5 Saudi Vision 2030 megaprojects which are Neom, Roshn, Qiddiya, and Diriyah Company. [7]

In June 2023, Red Sea Global signed a deal with Al-Ahli Football Club to become its platinum sponsor. [8]

Projects

The Red Sea Project

One of the 92 islands that form an archipelago at The Red Sea tourism destination on the west coast of Saudi Arabia. Red Sea island.jpg
One of the 92 islands that form an archipelago at The Red Sea tourism destination on the west coast of Saudi Arabia.

Built in an archipelago consisting of 92 different islands, The Red Sea Project is the largest of Red Sea Global's projects in terms of scale. The Construction of the project official began in February 2019. [9]

The project includes the following destinations:

The Red Sea project is accessed by the Red Sea International Airport. The airport began operations in September 2023 with an inaugural flight from King Khalid International Airport, Riyadh, via Saudia. [16] In April 2024, the airport received its first international flight from Dubai International Airport via flydubai. [17]

Amaala

Announced in September 2018, Amaala is a tourist destination that covers an area of 3,800 km2. [18]

Amaala includes 3 main regions: [19]

Amaala will be accessible via a dedicated airport. [20]

Thuwal

Announced in October 2023, Thuwal is a buy-out-only private island. Thuwal covers an area of 17,000 m2. [21]

Promotion

In March 2024, famous football player Cristiano Ronaldo, which at the time was a player for the Saudi team Al Nassr, visited the Red Sea destination. Ronaldo promoted the destination on his Instagram account, which at the time had more the 600 million followers. [22]

In April 2024, Red Sea Global announced a collaboration with Warner Bros. Discovery to produce a documentary titled "Beneath the Surface: The Fight for Corals". [23]

See also

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References

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  7. "A proven track record of delivering some of the world's most renowned projects". pif.gov.sa. PIF. Retrieved 1 February 2024.
  8. "Red Sea Global signs sponsorship deal with Saudi Arabia's Al-Ahli Football Club". Arab News. 23 June 2023. Retrieved 12 May 2024.
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  17. Turner, Kathleen (31 March 2024). "Red Sea International Welcomes Overseas Flights Serving New Resorts". Forbes. Retrieved 25 April 2024.
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  19. "Saudi Arabia's King Salman announces nearly $3 billion in development projects". The National News. 20 November 2018. Retrieved 24 April 2024.
  20. Street, Francesca (3 July 2020). "New Saudi Arabia airport design resembles shimmering desert mirage". CNN. Retrieved 25 April 2024.
  21. Mitchell, Bea (25 October 2023). "Red Sea Global unveils new private island destination, Thuwal". blooloop. Retrieved 25 April 2024.
  22. Corder, Josh (20 March 2024). "Cristiano Ronaldo Visits Saudi Arabia's The Red Sea". Skift. Retrieved 25 April 2024.
  23. Coates, Charlotte (17 April 2024). "Red Sea Global collaborates with Warner Bros. Discovery on coral documentary". blooloop. Retrieved 25 April 2024.

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