Red Sea Global awards major infrastructure contract worth nearly SAR one billion for Amaala
Saudi-based AL-AYUNI Investment and Contracting Company appointed to progress development at Amaala’s first phase of development across its Triple Bay masterplan
Riyadh, 16 January, 2023: Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala, has awarded a Primary Infrastructure and Utility Contract valued at nearly SAR one billion. The project will be undertaken by AL-AYUNI Investment and Contracting Company to deliver the first phase of development at Amaala, an ultra-luxury tourism destination located along the Kingdom’s north-western coast, across its Triple Bay masterplan.
AL-AYUNI, classified as a “First Class” contractor in the Kingdom since 2006, will be responsible for delivering state-of-the-art Primary Utility Infrastructure Systems, while minimizing Triple Bay’s carbon footprint as part of Amaala’s commitment towards net-zero operations.
AL-AYUNI was selected based on its overall technical and commercial competencies, as well as regional and global credentials. All design and construction methods meet RSG’s stringent criteria for end-to-end sustainable development, including economic, financial, social, and institutional factors.
Faheed Al-Ayuni Chairman of AL-AYUNI Investment and Contracting Company said: “Red Sea Global is a future-forward developer that is closely aligned with our legacy of innovating world-class solutions, cementing trusted relationships, and setting new benchmarks. It is an honor for us to contribute to its pioneering destinations and we look forward to unlocking the full breadth of our robust capabilities to meet RSG’s ambitious sustainability targets.”
Amaala’s first phase of development, focused on the Triple Bay masterplan, will encompass eight hotels and upwards of 1,200 hotel keys, upon full completion in 2027, the destination will offer 3,000 hotel rooms across 25 hotels as well as high-end retail establishments, fine dining, wellness, and recreational facilities.
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) of Saudi 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 a better 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.
The program will last for two years and three months, after which students will obtain an intermediate diploma from Tabuk University accredited by Hong Kong Polytechnic University. This program is designed to prepare students for future jobs by providing a curriculum that combines theoretical knowledge with practical application.
Upon successful completion, RSG and its partners will seek to provide job opportunities to suitably qualified graduates.