The Red Sea Development Company named “Developer of the Year” at Big Project Middle East Awards 2020
The developer also won the Excellence in Health & Safety award at the prestigious regional event
Riyadh, (27 Jan 2021): The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regeneration tourism project, has won two awards at the 2020 edition of the Big Project Middle East Awards, held on January 26 at the Ritz Carlton JBR in Dubai.
Following an extensive judging process that included more than 140 nominations, TRSDC was named The Developer of The Year in recognition of the significant progress made at the new destination and the exceptional work undertaken to set new standards, particularly in sustainability and environmental regeneration in and around the area of its flagship project.
We are honored to be named The Developer of the Year in this year’s edition of Big Project Middle East Awards. This is a prestigious accolade which has previously crowned many landmark organizations and projects around the region,
said John Pagano, CEO of TRSDC.
“We are also happy to see a greater focus being placed on rewarding sustainable and responsible development, which is a growing trend around the world, particularly in the wake of the Covid-19 pandemic. At TRSDC we firmly believe that development does not need to be at the expense of nature and the natural habitat,” he added.
TRSDC was also awarded the Excellence in Health and Employee Safety award for their Covid-19 Health and Safety Plan, celebrating their efforts to maintain the health and safety of their workforce during the pandemic, whether onsite or at their headquarters.
Dubox by AMANA, a subsidiary of AMANA Investments, won the Sustainability Project of The Year for its sustainability efforts on the Coastal Village development at The Red Sea Project.
Riad Bseibes, CEO of AMANA Investments, said: “We are delighted to win this significant award for our work on The Red Sea Project, which demonstrates our commitment from the outset to progress this project in a sustainable fashion with like-minded stakeholders in order to protect this pristine destination and its unique habitats.”
The Coastal Village is currently under development with AMANA Investments involved in both the residential housing and the three-star management hotel, which is set to open by the end of Q2 2021. The village will provide accommodation, office space, and supporting civil amenities to around 14,000 employees who will eventually operate the destination.
TRSDC’s commitment to regenerative tourism is underpinned by a master plan that predicts a 30 percent net conservation benefit by 2040. Only 22 islands of more than 90 will be developed, leaving 75 percent untouched and a further nine islands designated as special conservation zones.
Late last year TRSDC announced that it is creating the world’s largest battery storage facility to enable the entire site to be powered by renewable energy 24 hours a day, including the island sites.
Upon completion in 2030, The Red Sea Project will comprise 50 hotels, offering up to 8,000 hotel rooms and around 1,300 residential properties across 22 islands and six inland sites. The destination will also include a luxury marina, entertainment, and leisure facilities.
About The Red Sea Development Company
The Red Sea Development Company (TRSDC - www.theredsea.sa) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia. TRSDC was established to drive the development of The Red Sea Project, a luxury tourism destination that will set new standards in sustainable development and position Saudi Arabia on the global tourism map.
The project will be developed over 28,000 km2 of pristine lands and waters along Saudi Arabia’s west coast and includes a vast archipelago of more than 90 islands. The destination also features mountain canyons, dormant volcanoes, and ancient cultural and heritage sites. The destination will include hotels, residential properties, leisure, commercial and entertainment amenities, as well as supporting infrastructure that emphasizes renewable energy and water conservation and re-use.
Activity for the first phase of development, which focuses on enabling the infrastructure to support future work, is well underway. A marine infrastructure contract awarded in July 2019 includes the construction of a 3.3 km crossing to Shurayrah (the main hub) and development has begun at the Coastal Village, which will be home to around 14,000 people who will work at the destination.
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