The Red Sea Development Company (TRSDC) has rebranded as Red Sea Global (RSG) and revealed plans to become the world’s most responsible developer.
Red Sea Global is overseeing the creation of two tourism destinations in Saudi Arabia, the Red Sea, formerly known as the Red Sea Project, and Amaala. The former is on track to welcome its first guests in 2023.
For both giga-projects, Red Sea Global has awarded more than 1,300 contracts worth nearly $8.5 billion to date.
John Pagano, group CEO of Red Sea Global, said the developer is producing “mega-scale responsible developments that positively shape the futures of both the people who we welcome and employ, and the places in which we operate”.
“The announcement today marks the start of our evolution into a truly global developer that can lead the category towards a new archetype for development,” he added.
“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.”
Red Sea Global has a growing portfolio of projects along the Red Sea coast of Saudi. More than five additional developments are already under feasibility study, entering the masterplan competition phase or under construction.
The company is also establishing a series of subsidiary businesses. As for sustainable development, Red Sea Global is exploring and implementing some experimental technologies and pilot programmes.
Sustainable development
These include green concrete to limit emissions, clean mobility strategies, and sustainable food production through new farming approaches.
“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,” added Pagano.
“We also want to set new global standards in development and inspire the industry to do better.”
Last month, Red Sea Global unveiled its designs for the world’s first immersive and experiential marine life centre at Amaala.
Images: Red Sea Global
