Construction

RSG awards $266mn contract to AL-AYUNI for first phase of development at Amaala

The contract award will see the Saudi contractor deliver state-of-the-art primary utility infrastructure systems, while also minimising Triple Bay’s carbon footprint

Red Sea Global (RSG) has awarded a US $266.3mn contract to AL-AYUNI Investment and Contracting Company, for the first phase of development at Amaala, the ultra-luxury tourism destination located on the Kingdom’s north-western coast across its Triple Bay masterplan.

In a statement, RSG said that the primary infrastructure and utility contract was awarded to AL-AYUNI based on its overall technical and commercial competencies, as well as its regional and global credentials. It added that all design and construction methods meet RSG’s stringent criteria for end-to-end sustainable development, including economic, financial, social, and institutional factors.

Classified as a ‘First Class’ contractor in the Kingdom since 2006, AL-AYUNI will be responsible for delivering state-of-the-art primary utility infrastructure systems, while minimising Triple Bay’s carbon footprint as part of Amaala’s commitment towards Net Zero operations, the statement continued.

In mid November 2022, Partanna and Red Sea Global signed a MoU that will see the firms explore carbon-negative concrete developments and, later in the month, RSG became the first Saudi company to be awarded ISO 37000 certification.

John Pagano, Group Chief Executive Officer, Red Sea Global

“Today’s infrastructure deal forms a critical part of Red Sea Global’s ambition to pioneer a new relationship between luxury tourism and the natural environment. The sheer scale of the developments and our relentless pursuit of regenerative tourism require meaningful partnerships that can deliver resilient infrastructure. Together with AL-AYUNI Investment and Contracting Company, we are confident that we can collectively shape the future of developments in the Kingdom and beyond,” said John Pagano, Group CEO of RSG.

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.

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.”

In early January 2023, it was announced that Diriyah would become the PIF’s fifth giga-project.

He concluded, “It is an honour 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.”

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