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Red Sea Global

Real Estate

Red Sea Global Overview

Formerly known as The Red Sea Development Company, Red Sea Global (RSG) is a vertically integrated real estate developer with a portfolio including tourism, residential, experiences, infrastructure, transport and healthcare.

Established in 2017 by Crown Prince Mohammed bin Salman, Red Sea Global is wholly owned by the Public Investment Fund (PIF) and plays a significant role in Saudi Arabia’s Vision 2030 which aims to diversify the nation’s economy through sustainable tourism and development.

RSG is developing a number of luxury sustainable tourism destinations along Saudi Arabia’s west coast.

Its flagship project, The Red Sea Project, encompasses an archipelago of 92 islands and is set to include 50 resorts upon completion in 2030. The first resort began welcoming guests in 2023.

Red Sea Global is also developing the luxury Amaala destination of 29 resorts, with the first phase expected to open in 2025. A third destination, Thuwal Private Retreat, opened in 2024.

In addition the company is refurbishing Al Wajh Airport, focused on upgrading the existing terminal and infrastructure and building a new international terminal.

Red Sea Global says its aim is to lead the world towards a more sustainable future, showing how responsible development can uplift communities, drive economies, and enhance the environment.

Red Sea Global News

Saudi Red Sea coral

Red Sea coral to get extra protection from tourists

Saudi Arabia has vowed to implement a series of measures to protect its Red Sea coral reef over the next five years as it pushes ahead with major tourism projects in the area. But experts have warned that Saudi coral remains at risk, even with major spending policies.  According to the National Red Sea Sustainability […]

Visitors to the Mipim property conference look at images of the Mukaab, which will be the centrepiece of New Murabba in Riyadh

New Murabba CEO promises Riyadh district’s core by 2030

The New Murabba giga-project, which aims to create a 19-sq-km city district in Riyadh, will be up and running by December 2030, its CEO said this week.  Michael Dyke told a tourism forum in Dubai: “What’s important is to say that New Murabba is real, tangible today. It’s physically there, it’s not something on a piece […]

The St Regis at The Red Sea is one of Red Sea Global's 79 hotels across two locations

Red Sea Global seeks more credit and considers IPO

Saudi giga-project Red Sea Global is looking for a second credit facility and may consider an initial public offering by 2030, a senior official said this week. That will come after it has two dozen hotels in operation by the end of next year. “An IPO or real estate investment trust, you tend to begin […]

Members of Saudi Arabia's security forces participate in a parade in Mecca. Military spending decreased by 6.3 percent in the first half of the year Video length: 06:31

Saudi Arabia cuts military spending as deficit increases

Saudi Arabia estimates its military spending will be 15 percent lower than budgeted this year, while capital expenditure rises, according to figures released on Monday. The kingdom’s budget deficit will increase to 2.9 percent of GDP in 2024, according to the preliminary budget statement released by the ministry of finance, as spending on the Vision […]

Red Sea hotels Desert Rock, 'a hotel that’s literally built into the side of the mountain', is expected to open this year

Red Sea Global to open 19 luxury hotels in 2025

Red Sea Global, the Saudi giga-project, is due to open 19 new luxury hotels in 2025, it was revealed this week. It will also be opening two hotels this year, including one carved into a mountainside, an official said. “2023 saw us opening our first resort, and in 2024 we’ve opened another two resorts and […]

Saudi Arabia tourism projects Dragon Ball theme park

Arab Disneyland and Da Vinci: Saudi Arabia’s two great hopes

Saudi Arabia is spending billions on tourism projects at the heart of its grand plan to transform a once isolated kingdom into a global tourist destination. But a nagging question is haunting policymakers: will the world pay attention?   Tourism numbers are rising, hitting 27.4 million in 2023, but half of those were religious visitors.  The […]

Halo Space, a Madrid-based company, said Saudi Arabia would play a key role in construction of the craft

Halo Space to manufacture capsules in Saudi Arabia

Spanish company Halo Space plans to localise most manufacturing of its high-altitude balloon capsule to Saudi Arabia, it said this week before its first test launch in the kingdom.  The Madrid-based startup is due to stage an unmanned test flight from the Al-Aflaj oasis 330km south of Riyadh within the next two weeks, depending on […]

A concept image of the Thuwal island resort. New hotels there are due to open in weeks

Red Sea Global to open Thuwal island resort in weeks

Saudi giga-project Red Sea Global will open hotels at a second site within weeks and more at a third location will open next year, the luxury resort developer said this week.  The company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), will open a private island called Thuwal just north of Jeddah, followed by […]

The Rig infrastructure Saudi giga-projects

Saudi infrastructure provider signs on for The Rig giga-project

Saudi adventure tourism project The Rig has contracted a local company to develop the infrastructure for one of the kingdom’s more outlandish giga-projects.  The Public Investment Fund (PIF) company said International Maritime Industries (IMI) had formally agreed to provide maritime logistics and infrastructure for the project, which has an ambitious target date of 2027.  The […]