Red Sea Global signs MOC with Saudi Communications Commission
The agreement aims to enhance cooperation between Red Sea Global (formerly known as TRSD) and Saudi Arabia’s Communications and Information Technology Commission for the provision of advanced communications and information technology services
Red Sea Global (RSG), the developer behind the world’s most ambitious regenerative tourism projects, The Red Sea and Amaala, has signed a Memorandum of Cooperation (MoC) with The Communications and Information Technology Commission (CITC).
The MoC establishes a cooperation framework to support the communications and information technology goals of both organizations and the wider aspirations of Saudi Arabia and its Vision 2030.
RSG is working to ensure that all projects it launches are compatible with the Communications Act, its bylaws and any additional relevant decisions made by the Commission. The Commission will provide RSG with support and assistance in line with its role as the regulator of the communications and information technology sector in the Kingdom.
Both parties agreed to determine a general framework for their future relationship and collaboration.
The Red Sea destination will welcome its first guests by the end of 2023. The first phase of the development will include 16 luxury hotels offering 3,000 rooms across five islands and two inland locations. It will also include entertainment facilities, an airport, and the necessary supporting logistics and utilities infrastructure. Work is already underway at the destination with the development of key supporting infrastructure and accommodation for the workforce and company employees deployed to manage construction.
About Red Sea Global
Red Sea Global (RSG - www.redseaglobal.com) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) ofSaudi Arabia.
RSG is a global multi-project developer, seeking to lead the world towards a more sustainable future, showing how responsible and regenerative development can uplift communities, drive economies, and enhance the environment. The protection of natural capital is central to all development decisions, as the organization seeks to create abetter future for all.
A cornerstone of Saudi Arabia’s Vision 2030 ambition to diversify its economy, RSG is playing a key role in transforming the nation, by creating exciting opportunities for young Saudi talent and the private sector, as it develops built assets and destinations across multiple sectors that make a positive impact for people and planet.
RSG is the visionary company behind some of the world’s most ambitious development ventures, including luxury regenerative tourism destinations such as The Red Sea and AMAALA.
Across its portfolio, RSG leverages the most innovative concepts, strategies, and technologies to deliver projects that actively enhance the wellbeing of customers, communities, and environments.