Red Sea Global Announces Significant Achievements and Sets Bold Goals for 2024
- Developer opened doors to first guests in 2023, while demonstrating that it is doing more than just building hotels.
- Portfolio of new projects and subsidiaries grew significantly last year.
Riyadh, 16 Jan 2024: Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and Amaala, has announced the successful establishment of 21 subsidiaries by the end of 2023, cementing its position as one of the fastest growing organizations in the Kingdom and a key player in the delivery of Vision 2030.
In 2023, The Red Sea destination welcomed its first guests, marking a pivotal moment for RSG and the Kingdom’s burgeoning tourism industry. In addition, the company unveiled its third destination, Thuwal Private Retreat, further expanding its growing portfolio of developments along the Red Sea coast.
“We are truly excited by our accomplishments to date and are confident that our goals for 2024 and beyond will continue to push boundaries and shape the future of regenerative tourism. Together, our dedicated workforce and committed partners are determined to continue driving economic growth, creating job opportunities, protecting and regenerating environments, while delivering unforgettable experiences for our guests at The Red Sea, Amaala, and future destinations.”
The allure of the destinations under development by RSG lies in their untouched landscapes, rich biodiversity, enticing cultural heritage, and world-class hospitality offerings. New experiential brands Akun, Galaxea and WAMA are playing a role in unlocking these elements in a sustainable manner to provide truly unique and memorable moments for guests as they explore the unexplored.
Expected guests at The Red Sea are not just typical vacationers – they have an inherent thirst for adventure and discovering the unknown and are passionate advocates for nature. In fact, 2023 saw an ongoing global shift towards more sustainable travel, as highlighted in the 2023 Sustainable Travel Report. The report revealed that 76% of international travelers are determined to embrace more sustainable travel options in 2024, despite economic pressures.
Last year RSG announced its ‘Coral Commitment’, vowing to protect and regenerate corals in the Red Sea and beyond. At the same time, the company unveiled the new brand for its marine life institute at Amaala, which it has named Corallium, and announced the results of phase one of its Coral Gardening Pilot Project. This year RSG will take delivery of a million-dollar coral breeding lab, which will allow its team of scientists to produce juvenile coral at multiple points throughout the year.
RSG successfully opened its first mangrove nursery with one million seedlings already planted, and aims to plant 50 million mangrove trees by 2030. The company also announced it has developed more than 20 acres (83,367m2) of new wetlands through its sustainable approach to utilities. The wetlands treat water without the need for chemicals and creates new habitats that enable biodiversity to flourish.
The developer also announced it has fully installed the more than 760,000 photovoltaic panels across five solar farms needed to power phase one of The Red Sea solely by sunlight, with the destination fully off-grid.
Six Senses Southern Dunes, The Red Sea, and St. Regis Red Sea Resort are already open and welcoming first guests, with Nujuma, a Ritz-Carlton Reserve, now preparing to welcome its first guests. Also, all 38 stainless steel overwater villas and 35 beach villas have now been installed at Shebara resort, and the resort at Desert Rock remains on track to welcome first guests later this year.
Red Sea International Airport (RSI) has been receiving a regular schedule of domestic flights since September 2023 with more than 11,500 passengers received at the new airport.
Looking further ahead to 2025 sees the completion of 11 luxury hotels on Shura Island and the completion of the main terminal at RSI.
Likewise, Amaala, Triple Bay will welcome first guests in 2025 as the first eight hotels begin to open their doors, in addition to the one of a kind Corallium marine life institute and iconic Yacht Club.
Progress on the ground is moving at pace with the destination springing to life, including a new sustainability-focused Staff Village that will house those that live and work at the destination. During 2023, the company revealed five international operator brands including Six Senses and Clinique La Prairie, and more hotel partners are expected to be announced in the coming months.
Read the latest RSG Annual Sustainability Report here.
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.