Amaala, a luxury megaproject in Saudi Arabia, has announced that over 300 construction contracts worth in excess of $1.7 billion have been signed to date.
Located within the Prince Mohammad bin Salman Nature Reserve, Amaala will be home to more than 3,000 hotel rooms across 25 hotels. It will also boast 900 residential properties, and retail, dining and wellness facilities.
Due to complete in 2027, Amaala is part of Saudi Arabia’s Vision 2030, which aims to diversify the country’s economy away from oil.
Amaala’s first phase, Triple Bay, is set to complete in 2024. It includes eight resorts offering more than 1,300 hotel rooms. Earlier this year, Amaala unveiled its $2 billion Triple Bay Yacht Club.
“Surpassing 300 contract awards underscores the scale of this project and the significant progress being made as we press ahead with activity on the ground to bring our destination to life,” said John Pagano, group CEO of the Red Sea Development Company (TRSDC).
Pagano said TRSDC is creating “one of the top global tourism destinations of the future”.
More than 2,400 staff have already been hired, and building work is well underway. An additional $1.6 billion of contracts is currently out to tender.
Amaala will be powered by renewable energy and will send zero waste to landfill. Pagano said the masterplans are “deeply grounded in maximizing positive environmental, economic, and cultural impacts”.
Amaala’s first phase to complete in 2024
Once it is fully operational, the project is expected to create more than 50,000 new jobs for Saudis. It is also predicted to contribute upwards of $2.9 billion to the country’s GDP.
“Our progress across infrastructure, groundworks, and key assets is testament to our unwavering ambition to champion tourism as a powerful force for good, remaining closely aligned with the goals of the kingdom’s Vision 2030 and Saudi Green Initiative,” Pagano said.
Saudi is creating a host of attractions and giga-projects as part of Vision 2030, including Qiddiya and Neom, a $500 billion ‘land of the future’.
Images: TRSDC
