Its pristine natural setting will provide a unique backdrop to exceptional facilities, with a focus on wellness, self-transformation and arts. It aims to attract 300,000 tourists a year in the first phase and 800,000 to 1 million once the development is complete.Red Sea is one of three major projects backed by PIF, along with the $500 billion NEOM economic zone and the Qiddiya entertainment project.Reporting by Marwa Rashad; Editing by Alex Richardson andEdmund Blair(Adds details about the project)Saudi Arabia plans to develop resorts on 50 islands off the Red Sea coast, offering a nature reserve, coral reef diving and heritage sites.The company, which is developing a huge Red Sea tourism project, said the contracts were awarded to Nesma & Partners Contracting Co. Ltd and Almabani General Contractors.RIYADH, July 13 (Reuters) - Saudi Arabia’s Red Sea Development Company said on Monday it had awarded infrastructure contracts for an international airport that is due to open in 2022. Saudi Arabia’s NEOM, which is building a $500 billion mega economic zone, said last week it had signed an agreement with Air Products and Saudi Arabia’s ACWA Power for a $5 billion green hydrogen-based ammonia production facility.Red Sea Development Co, backed by Saudi Arabia’s sovereign fund, the Public Investment Fund (PIF), plans to build the first phase by 2022. AMAALA is an integrated resort across three sites on the shores of the Red Sea. The Red Sea Development Company (TRSDC - www.theredsea.sa) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia.TRSDC was established to drive the development of The Red Sea Project, a luxury tourism destination that will set new standards in sustainable development and position Saudi Arabia on the global tourism map. The contract award followed a competitive … (Adds details about the project) RIYADH, July 13 (Reuters) - Saudi Arabia’s Red Sea Development Company said on Monday it had awarded infrastructure contracts for an … Its three sites are easily accessible by air, road and sea, connected to the iconic marinas of the Mediterranean Sea. The kingdom unveiled plans for the project, comprising a 30,000sqkm stretch of islands, beaches and other attractions on the Red Sea, in the summer of … According to its website, TRSDC's board is chaired by HRH Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince of Saudi Arabia, First Deputy Prime Minister, President of the Council for Economic and Development Affairs, Minister of Defense, and chairman of Public Investment Fund (PIF). 26°57'25.7"N 35°58'19.6"E Triple Bay. The Riviera of the Red Sea. The off-site manufacturing method that The Red Sea Project is utilizing, refers to the construction methodology where a substantial portion of the building or installation is built and assembled in a factory located away from the building site. Marine infrastructure contractor Archirodon has won a contract for enabling marine infrastructure works at Saudi Arabia’s The Red Sea Project – a 28,000km2 gigaproject that is being developed by The Red Sea Development Company (TRSDC), backed by Saudi Arabia’s Crown Prince Mohammed Bin Salman-led Public Investment Fund (PIF). The company is a wholly owned entity of PIF, and is overseeing the development of the multi-phase The Red Sea Project.Twice the size of Orlando DisneyMasterplan approval was followed by TRSDC’s chief executive officer, John Pagano, opening a base camp at the site of The Red Sea Project, as the company announced on its LinkedIn page in February 2019. The Red Sea Project – one of the Saudi Arabia’s gigaprojects – is ramping up the number of architectural and landscape designers it hires, as the multibillion-dollar project gathers pace. Pagano gave a presentation detailing the master plan for the Red Sea Project and its economic and developmental objectives, which aim to establish it as a … The Red Sea Development Company (TRSDC), developer of The Red Sea Project , announced the approval of the project’s masterplan, designed by the US’s WATG, and Buro Happold from the UK, in January.
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