The framework co-operation agreement was signed with Saudi’s Tourism Development Fund, FTG Development Company, Albilad Investment Company and Ekofine, Trade Arabia reports.
$497 million resort investment fund
The new Rixos resort will include a five-star hotel, overwater villas and a new water park. The $479 million fund will be responsible for developing and operating this new resort.
The resort will be under the brand of Rixos, which is a trademark owned by Accor International.
Located in KAEC, a new city in Saudi Arabia, the resort will be just an hour from Jeddah, Mecca and Medina. A new deepwater port means that KAEC will be accessible to the world’s largest ships.
Rixos Emerald Shores resort
The Rixos Emerald Shores resort will be one of the largest tourist resorts within KAEC. It will be built upon 275,000 square metres and will be located alongside Red Sea beaches.
The hotel will have more than 500 rooms as well as 35 luxury hotel villas. These villas will have views over the Red Sea coast.
New resort will feature a water park
With an integrated water park, beaches along the Red Sea, gyms and more than 10 international restaurants and cafes, the resort will be one of the largest leisure destinations in Saudi Arabia.
Emaar EC said in a statement that “The project has various options for accommodation facilities, which creates an exceptional environment for tourism, entertainment, comfort and recreation”.
Meanwhile, a new $500bn carbon zero city has been unveiled in Saudi Arabia. THE LINE at NEOM will cover 105 miles and will comprise of hyper-connected communities without cars or streets.
Philippe Gas, GEO of the Qiddiya Investment Project in Saudia Arabia revealed more details about the multi-billion dollar giga-project. Qiddiya will feature the world’s fastest roller coaster at the new Six Flags theme park.