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Red Sea Global

Tourists visit the tombs of the Nabatean civilisation in AlUla. Saudi Arabia's goal is for tourism to make up 10 percent of GDP by 2030

Affluent tourists around the globe on Saudi Arabia’s radar

Saudi Arabia will invest more than $800 billion in its main giga-projects by the next decade as part of a tourism expansion strategy focused on affluent tourists in China, India and Europe.  The kingdom’s tourism minister Ahmed Al-Khateeb, speaking at the Qatar Investment Forum, said: “We’re building and investing in major destinations like Neom, Red […]

Last year, there was a 29 percent increase in international tourist arrivals to the GCC compared to 2022

Why ‘over-tourism’ offers an opportunity for the GCC

The GCC region and its North African neighbour Egypt can reap the rewards of over-tourism across the globe, according to industry experts, with affordability playing a key role in fuelling the sector’s growth. The number of hotel rooms in the six countries of the GCC – Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the UAE […]

Saudi Arabia's Red Sea International Airport will be the gateway to an area with 50 resorts

Red Sea airport prepares for first international visitors

Saudi Arabia’s Red Sea International Airport will record its first international visitors this month when a flight from Dubai arrives on April 18. Red Sea Global, the developer behind regenerative tourism destinations The Red Sea and Amaala, said the flight, operated by Flydubai, marks the start of a new twice-weekly route.  Regular domestic flights operated […]

An artist's impression of the stainless steel villas at Shebara, Red Sea Global's latest luxury resort

Red Sea Global says first hotels are open

Red Sea Global, one of Saudi Arabia’s main giga-projects, said this week it has opened two hotels.  Ben Edwards, group head of cost, commercial and procurement, said in a conference call on March 20 that Six Senses and St. Regis hotels had opened at the Red Sea Global site south of the remote town of […]

Oman's new economic zone will span more than 20 sq km

Foreign expertise vital for Saudi construction

Saudi Arabia’s construction industry needs more foreign involvement if achieving its Vision 2030 goals is to become a reality, according to attendees of the Big 5 conference in Riyadh. In the first half of 2023 alone $44 billion worth of new projects were awarded in the kingdom’s $140 billion construction sector, according to real estate […]

A tourist with an arabian foal at Alhazm stud, Khubash, Saudi Arabia. 106m tourists visited the kingdom last year

Saudi Arabia hits tourism target seven years early

More than 106 million tourists visited Saudi Arabia last year, surpassing the kingdom’s 2030 target and prompting it to set a new goal of welcoming 150 million annual visitors by the end of the decade, according to the Ministry of Tourism. Achieving the milestone target of the Vision 2030 economic roadmap seven years early cements […]

A coral reef off Yabou' Island, part of Neom. The project aims to use mostly recycled materials and send zero waste to landfill

Gulf’s recycling industry grows with mega-projects

The volume of Gulf construction projects will increase the use of recycled materials, the head of the Bureau of Middle East Recycling has told AGBI.  Ibrahim Aboura, who is also managing director of Aboura Metals in Dubai and a committee chairman of the Bureau of International Recycling (BIR), added that it will also raise the […]

A worker looks out at Riyadh from a tower under construction in the city

Big 5 builders seek answers to Saudi’s $1.5trn question

Saudi Arabia’s mammoth pipeline of giga-projects was the focus of the Big 5 Global conference in Dubai this week, as the region’s main construction players discussed how to juggle fast-approaching 2030 deadlines with the kingdom’s push for sustainable development. Saudi Arabia has signed off on $78 billion of construction projects so far this year, up […]

RedSea claim their heat-blocking roof technology can reduce energy usage and water use in irrigation

RedSea to dig further into Egypt’s agricultural market

RedSea, an agtech business based in Saudi Arabia, is prioritising Egypt to transform the North African nation’s agricultural industry. The company has also announced the appointment of Bruno De Oliveira as vice president of Egypt and East Africa as a result of increasing customer demand for its products.   RedSea has already installed heat-blocking roofing materials […]

Saudi Arabian billionaire Prince Alwaleed bin Talal

Kingdom Holding ups stake in Citigroup with Alwaleed deal

Kingdom Holding Company has increased its investment in Citigroup after buying a $450 million stake from its Saudi Arabian billionaire chairman, Prince Alwaleed Bin Talal. The deal has raised Kingdom’s stake to 2.2 percent from 1.63 percent, according to a filing on the Saudi Stock Exchange on Wednesday. The company did not disclose any further […]

Giga-projects include the city of Neom and the Red Sea Project and Amaala tourist resorts

Saudi construction contracts balloon since 2015 

Saudi Arabia has signed off on $78 billion of construction projects so far this year, up 42 percent from $54.5 billion in 2015, just before the announcement of the Vision 2030 project.  The statistics, provided by the Saudi Contractors Authority (Scavo), show the total value of ongoing projects as of the end of October at […]

An artist's impression of the stainless steel villas at Shebara, Red Sea Global's latest luxury resort

Red Sea Global reveals own luxury resort brand

The Saudi developer Red Sea Global (RSG) will open Shebara, its own luxury resort brand, next summer at the Red Sea tourism project. The resort, on Sheybarah Island in the Al Wajh Lagoon, will house 73 keys, including overwater and beach villas. Guests can get to the resort after a 45-minute boat ride, or 20 […]

King Abdulaziz Airport Jeddah Saudi Arabia

Saudi aviation reforms to attract foreign airport operators

Saudi Arabia has unveiled reforms and new regulations to encourage more foreign investment in its aviation sector, as part of a privatisation push. The new economic policy framework aims to create a “level playing field” for global operators and investors in the kingdom, according to the president of the General Authority of Civil Aviation (Gaca). […]

Saudi Real Estate Refinance Company said the issuance had garnered interest from institutional investors

Saudi construction under pressure to deliver on its promise

The Saudi construction sector is growing as the state showers money on giga-projects while oil prices are high, but the industry is under increasing government pressure to deliver, industry players say.  A market that was previously dominated by favoured government contractors such as Binladin Group and the now defunct Saudi Oger has been liberalised. This […]

Envi project at Al Jabel Al Akhdar in Oman

Envi Lodges to launch third round of fundraising

Envi Lodges, the tented camps and eco-pods specialist, is preparing a third round of fundraising as it seeks to expand regionally and internationally. The UAE ecolodge brand and management company, founded in 2021, has already completed two funding rounds, raising $2 million from investors in Saudi Arabia, the UAE, France and the UK. Envi Lodges […]

The Red Sea Four Seasons resort will have 149 rooms and suites, plus 31 residential properties

Red Sea Global links up with Kingdom for $530m resort

Red Sea Global and Kingdom Holding Company have agreed a SAR2 billion ($530 million) joint venture to develop and own a Four Seasons resort at the Red Sea giga-project. The luxury development, scheduled to open in early 2025, will be built on Shura Island, the main hub of the 22-island giga-project. The Four Seasons resort […]

The King Abdullah University report says Saudi Arabia's coastal areas will be most at risk and suggests a range of approaches to mitigate this

Warning over climate impact of Saudi giga-projects

Saudi Arabia’s vast giga-projects could have a damaging impact on the environment if they are not managed properly, a report from a Saudi university has found.  “While diversifying the economy, giga-projects will increase the number of people living or visiting coastal areas, placing an additional burden via waste generation and disposal, water desalination and energy […]

ALEC construction One Za'abeel

Gulf contractor ALEC’s five-year plan to double business

ALEC Engineering and Contracting, the company behind some of the Gulf’s biggest projects, is looking to double its business in the next five years, with Saudi Arabia making up a core part of its plans. Developments already under their management include the UAE’s first casino and Saudi Arabia’s entertainment city. Barry Lewis, ALEC’s recently appointed […]

PIF governor Yasir Al-Rumayyan said the kingdom has ample funds to foster AI's development

PIF’s sukuk may test investor appetite for Middle East

Saudi Arabia’s Public Investment Fund is planning to issue its first dollar-denominated Islamic bonds, but the move could be a test of investor appetite as regional tensions rise over the conflict in Gaza.  Citi, HSBC, JP Morgan and Standard Chartered Bank have been nominated as global joint co-ordinators to organise a series of investor calls […]

Red Sea's fleet of Mercedes and Lucid EVs will be used for guest transport at the resort

Red Sea Global installs Saudi Arabia’s largest EV charging network

Saudi developer Red Sea Global has installed what it says is the kingdom’s largest off-grid electric vehicle charging network. The network includes more than 150 charging stations spread across phase one of the Red Sea project. The stations are strategically located to keep Red Sea Global’s initial fleet of 80 electric Lucid and Mercedes vehicles […]