Saudi Arabia’s ongoing efforts to transform itself into a top-tier tourism destination received a significant boost through recent advancements in the Red Sea and Amaala projects. Spearheaded by Red Sea Global, a company wholly owned by the Saudi Public Investment Fund (PIF), these flagship developments are positioning the kingdom as a premier destination for luxury tourism and investment opportunities.
In addition to furthering Saudi Arabia’s Vision 2030, these projects are creating a unique blend of sustainable tourism, luxury accommodations, and expansive real estate investments that are increasingly appealing to both domestic and international investors.
In late October 2024, Red Sea Global made headlines by closing a major $1.5 billion infrastructure financing deal for its Amaala project. This strategic investment, led by a global consortium that includes EDF Group, Masdar (Abu Dhabi Future Energy Company), East West Power (EWP) from South Korea, and Suez, marks a vital step forward in Saudi Arabia’s vision for transforming its tourism and hospitality landscape.
The Red Sea and Amaala projects are two pivotal components of Saudi Arabia’s ambitious Vision 2030, which seeks to diversify the economy beyond oil and make the kingdom a leading global tourism hub. These projects are strategically designed to offer unique experiences that merge luxury, sustainability, and natural beauty while emphasizing environmental preservation and economic diversification.
The Red Sea Project, which covers an area of more than 28,000 square kilometers, is home to the world’s fourth-largest coral reef system, pristine beaches, and unspoiled islands. This destination is expected to draw up to one million visitors annually by 2030. Meanwhile, Amaala, situated along the northwestern coast, is being developed as a wellness-focused luxury destination featuring high-end hotels, resorts, and unique lifestyle experiences centered around health, wellness, and sustainability.
At the recent Cityscape Global 2024 exhibition in Riyadh, Red Sea Global’s Executive Director of Cost, Commercial, and Procurement, Ben Edwards, highlighted the milestones achieved in both projects and emphasized the significance of 2025 as a pivotal year for the Red Sea Project. Speaking with Asharq Al-Awsat, Edwards detailed how Red Sea Global has rapidly moved forward by opening its first luxury resorts, including the iconic St. Regis and Ritz-Carlton properties, which began welcoming guests by late 2023 and early 2024.
In 2025, Red Sea Global anticipates reaching key milestones, including the opening of several high-profile hotels on Shura Island, a prominent attraction within the Red Sea Project. The island will feature 11 luxury hotels from globally renowned brands, set around a professional 18-hole golf course, and will serve as a prime location for guests to experience the natural beauty of the Red Sea coast combined with high-end amenities.
Edwards also outlined ongoing developments at Amaala, where eight hotels are set to open in the first phase of development, known as Triple Bay. The Amaala project will also feature a Yacht Club and the Marine Life Institute, a pioneering initiative aimed at studying and preserving the rich marine ecosystem of the Red Sea.
Red Sea Global’s continued progress in these flagship projects has not only enhanced Saudi Arabia’s tourism sector but has also created substantial investment opportunities, particularly in hospitality and real estate. Ben Edwards extended an invitation to investors at the Cityscape Global 2024 event, emphasizing the growing portfolio of private real estate investment opportunities across the Red Sea and Amaala developments.
“We welcome investors in the hotel and real estate sectors and invite them to explore opportunities in the Red Sea and Amaala projects,” Edwards said. “We offer a growing portfolio of private real estate investment opportunities, including properties near the Shura golf course and in Amaala.”
Red Sea Global’s ongoing search for contractors, service providers, and suppliers to engage in bids and various projects has further cemented Saudi Arabia as an attractive destination for investors looking for high-value opportunities in emerging markets. With its integrated approach that combines luxurious experiences with a commitment to sustainability, Red Sea Global is setting new standards in the tourism and real estate sectors.
Central to Saudi Arabia’s tourism projects is an unwavering commitment to sustainability. Recognizing the environmental sensitivity of the Red Sea’s coastal areas and ecosystems, Red Sea Global has incorporated innovative strategies to minimize its ecological footprint. Both the Red Sea and Amaala projects are powered entirely by off-grid renewable energy sources, a significant achievement that underscores the kingdom’s focus on sustainable development. The projects collectively utilize over 760,000 solar panels, complemented by the world’s largest solar energy storage facility.
Red Sea Global’s environmental stewardship extends to a broad array of initiatives, including mangrove planting projects aimed at preserving and restoring coastal ecosystems. So far, the company has planted over 1.5 million mangrove trees, with an ambitious target of planting 50 million by 2030. Mangroves are known for their ability to absorb carbon dioxide and act as a buffer against coastal erosion, playing a critical role in maintaining the health of marine ecosystems.
“We are committed to ensuring that all aspects of our development align with the principles of environmental sustainability,” Edwards stated. “Our goal is to create an environmentally responsible tourism sector that respects and preserves the Red Sea’s natural beauty for generations to come.”
The recent $1.5 billion financial closure of the multi-utility infrastructure project at Amaala marks a significant milestone in Red Sea Global’s development trajectory. This project, undertaken by a consortium that includes EDF Group, Masdar, EWP, and Suez, aims to provide Amaala with a comprehensive utility network that will cater to the needs of high-end resorts and facilities while adhering to sustainable practices.
This partnership demonstrates Red Sea Global’s ability to attract top-tier international investors and collaborators, further validating the potential of Saudi Arabia’s tourism and infrastructure sectors. The investment deal aligns with the kingdom’s broader strategy of fostering global partnerships to advance local expertise and innovation in its rapidly expanding tourism industry.
To date, Red Sea Global has awarded over 600 contracts, valued at approximately SAR 23 billion ($6.13 billion), to a mix of local and international partners, underscoring its role as a key driver of economic diversification and job creation in Saudi Arabia. These contracts are expected to generate significant employment opportunities and provide a steady income stream for the kingdom’s economy, supporting the Vision 2030 objectives.
The Red Sea and Amaala projects are redefining the concept of luxury tourism in Saudi Arabia by offering world-class amenities and experiences rooted in local culture and nature. From luxury hotels designed by internationally acclaimed architects to immersive wellness experiences at Amaala’s health-focused retreats, these projects are designed to cater to a diverse global audience, including wellness tourists, luxury travelers, and eco-conscious visitors.
As part of this vision, Red Sea Global is creating carefully curated tourism experiences that integrate Saudi Arabia’s natural and cultural assets. The 18-hole golf course on Shura Island, for instance, is surrounded by the Red Sea’s azure waters and coral reefs, offering an unparalleled backdrop for golfing enthusiasts. Similarly, the Marine Life Institute at Amaala will provide visitors with the opportunity to learn about the Red Sea’s rich biodiversity through interactive exhibits and research initiatives.
As Saudi Arabia continues to invest in its tourism infrastructure, the kingdom is well on its way to achieving global recognition as a leading travel destination. Red Sea Global’s emphasis on sustainable luxury, coupled with its commitment to environmental preservation, aligns with international trends toward eco-friendly tourism and offers a compelling proposition for environmentally conscious travelers.
The strategic developments within the Red Sea and Amaala projects illustrate Saudi Arabia’s vision for a vibrant tourism industry that appeals to global visitors. By 2030, Saudi Arabia aims to attract 100 million visitors annually across various tourism sectors. The Red Sea and Amaala projects alone are anticipated to host one million visitors each year, playing a crucial role in achieving this ambitious target.
