Red Sea megaproject gets approval from board of directors
Phase one is scheduled for completion in 2022, and full completion in 2030
The Red Sea Development Company (TRSDC) has announced that its received the approval of the board of directors, which will see 22 islands being developed as part of the Red Sea Project.
The project will be developed over an area of 28,000 sqkm on the Kingdom’s west coast which includes an archipelago of more than 90 islands and lagoons. Phase one of the project is scheduled for completion in 2022 and includes 14 luxury and ‘hyper-luxury’ hotels with 3000 rooms across five islands and two inland resorts, TRSDC said in a statement.
The project was developed in partnership with WATG and Buro Hapold and incorporated design concepts from international architecture firms.
TRSDC added that there would be a separate airport to serve the destination, as well as the necessary logistics and utilities infrastructure. There would also be yacht marinas, and leisure and lifestyle amenities.
The final phase of the project would preserve 75% of the destination’s islands for conservation and designate nine islands as sites of significant ecological value. This required several improvements in the design process to avoid disrupting endangered species native to the area, the statement said.
John Pagano, the chief executive of TRSDC, said: “The design concepts that we have presented to the Board will provide visitors with a uniquely diverse, immersive experience while setting new standards in sustainable development, and positioning Saudi Arabia on the global tourism map.”
“With the master plan approved, we are now identifying investors and partners who are interested in working with us on realizing the objectives of the project and who share our commitment to enhance, not exploit, the natural ecosystems that make the destination so unique.”
Once completed in 2030 in line with Saudi Arabia’s Vision 2030, the destination will offer luxury properties and a wide range of commercial, retail and recreational facilities.
The approved master-plan includes the development of 22 islands, providing up to 10,000 hotel rooms across island resorts, mountain retreats and desert hideaways, the company said.
The development is projected to create 70,000 new jobs and contribute $5.3 billion to Saudi’s GDP, by creating investment opportunities for the private sector and developing the kingdom’s tourism industry while preserving the nation’s precious cultural and environmental heritage, TRSDC added.
“The leadership of the Kingdom has shown great foresight in its insistence on balanced development of this pristine destination,” Pagano said. “Our plan not only envisions a stunning luxury destination, it also takes tangible, measurable steps to enhance that destination for future generations to enjoy and cherish.”
