The Red Sea Development Company and AMAALA, the developers behind a number of the Kingdom’s most ambitious tourism projects, have confirmed a merger to form Red Sea Global (RSG). The announcement revealed a new logo concept and brand inspired by the Red Sea.
RSG’s remit has grown to include managing more than a dozen projects along the Red Sea coast, with potential extension in the future. The expanded mandate also includes the establishment of a series of subsidiary businesses to drive an uplift in the Saudi tourism sector and associated industries. Such RSG-owned businesses allow the organization to maintain its stringent sustainability standards in the development and operational phases, and span the creation of a seaplane company through to hospitality and guest experience brands.
“This announcement marks the start of our evolution into a truly global developer that can lead the category towards a new archetype for development”
“This announcement marks the start of our evolution into a truly global developer that can lead the category towards a new archetype for development. We are powered by extraordinary people from the Kingdom and beyond, and have the skills, knowledge, and experience required to succeed on the world stage,” said John Pagano, CEO of the newly formed Red Sea Global.
“We are not only expanding our footprint to help create massive economic opportunities – valued at hundreds of billions worth of riyals – for the people of Saudi Arabia. We also want to set new global standards in development and inspire the industry to do better.”
After completion, it is anticipated that the current projects will contribute more than SAR 33 billion to the country’s economy. RSG also plans to concentrate on extensive training programs for the upcoming generation of Saudi talent.