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  • 24-01-23

    Red Sea Global offers USD270M deals for development operations at luxury destination

    (MENAFN) Tourism venture Red Sea Global has granted around SR1 billion (USD270 million) deal to Saudi-located Al-Ayuni Investment and Contracting Co. to improve utilities infrastructure schemes at one of its resorts.

    The company is going to continue the operations in the initial phase of improvement at Amaala, an ultra-luxury tourism site positioned near the nation’s north-western coast, through its Triple Bay masterplan.

    Al-Ayuni is going to operate on reducing Triple Bay’s carbon footprint as well, as part of Amaala’s promise in the direction of net-zero actions.

    John Pagano, Group chief executive of RSG stated that “Today’s infrastructure deal forms a critical part of Red Sea Global’s ambition to pioneer a new relationship between luxury tourism and the natural environment,”

    He continued: “The sheer scale of the developments and our relentless pursuit of regenerative tourism require meaningful partnerships that can deliver resilient infrastructure. Together with Al-Ayuni Investment and Contracting Company, we are confident that we can collectively shape the future of developments in the Kingdom and beyond.”

    MENAFN24012023000045014228ID1105469641

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