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INDUSTRY NEWS AND INSIGHTS

30 Apr 2024

KSA unveils a new megaproject: Red Sea Global

KSA unveils a new megaproject: Red Sea Global

Red Sea Global is one of the world’s most visionary tourism projects located on the beautiful Red Sea coast of Saudi Arabia which aims to combines luxury with ecotourism.

Red Sea Global is a visionary global developer for people and the planet, committed to shaping living, working, and travel spaces. Red Sea Global is a privately held joint-stock company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia.

It was established in 2018 as a closed joint stock company and is behind some of the world’s most ambitious development ventures, developing numerous cutting edge Saudi red sea hotels and resorts within the Red Sea Project. 

The Saudi Red Sea Project is an initiative aimed at sustainable tourism development on Saudi Arabia’s western coastline. It is one of the Saudi giga projects introduced by HRH Crown Prince Mohammad bin Salman bin Abdulaziz Al-Saud in 2017, alongside NEOM, Diriyah, Qiddiya, Roshn and AlUla.

These Red Sea giga project is part of the Kingdom’s Vision 2030, which aims to transform the country economically and culturally while preserving its rich environmental and cultural heritage.

These sustainable and regenerative tourism destinations collectively aim to increase Saudi Arabia’s luxury tourism sector and commitment to sustainability. Moreover, these projects are designed to protect and enhance the natural environment for future generations.

In 2018, John Pagano was appointed as the Group CEO of The Red Sea Development Company and brought his extensive experience in managing and transforming large-scale projects including London’s Canary Wharf.

John Pagano said, “What sold the Red Sea Project was to be part of something transformational for the country, for its people, to be part of something bigger than a project.”

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