Saudi Arabia reveals the developments of a huge tourism project costing...

The Saudi Red Sea Real Estate Development Company has concluded, since its inception in 2017, about 500 contracts with local and international companies from 24 countries.

The company, which is wholly owned by the Saudi Public Investment Fund, said today, Sunday, that the total value of the contracts signed for the Red Sea Tourism Project during this period amounted to 7.5 billion riyals (about two billion dollars).

The company developing one of the most ambitious renewable tourism projects in the world, clarified that the contracts that were signed include contracts for the design, construction, and operation of luxury housing units and other facilities at the site of the Red Sea project.

The Red Sea Development Company contributes to the economic growth of Saudi Arabia, and plays an effective role in achieving the strategic goals of the Kingdom’s Vision 2030, and is considered one of the leading companies in ecotourism, and aims to be the first destination in the world in applying the principle of renewable tourism at this great level.

Last July, the company signed the largest contract in terms of its financial value to develop the infrastructure of the Red Sea International Airport, which will be opened in 2022.

This huge contract represents a quantum leap in the development of the project, as it reflects the interest of the Red Sea Development Company and its keenness to provide opportunities for companies operating in the Saudi construction sector.

John Pagano, CEO of The Red Sea Development Company, said that this stage illustrates the scope of the Red Sea Tourism Project and the remarkable progress we have made in developing the destination of the future.

He emphasized the company’s commitment to support the local economy, as 500 contracts were awarded to companies from 24 countries, and Saudi companies received more than 70% of the total value of their awarded contracts.

He explained that the contracts awarded to international companies highlight the global scope of the Red Sea project, which requires global expertise to develop this unique destination.

The company announced that the Red Sea development project has achieved remarkable steps, and work is underway to achieve all the objectives set for the project, according to the Saudi Press Agency.

She confirmed that the first batch of visitors will be received by the end of 2022 when the international airport opens and the first 4 hotels in the destination.

The Red Sea Development Company said that 12 additional hotels are scheduled to open when the first phase of the Red Sea tourism project is completed in 2023, and that 3,000 hotel rooms will be provided on 5 islands and two resorts on the mainland.

According to the company’s data, work continues on the project site to develop a road network of 80 km long to connect the destination areas to each other through highways and intersections, in addition to the foundational works for the new international airport, in addition to building the bridge that connects the main island, which is a sinister island, to the mainland. And building many docks.

The first batch of prefabricated units built in factories in Rabigh city has been delivered, and will be installed in the city of employees, and this city will accommodate about 14,000 employees who will operate the destination upon completion.

The construction work continues in the workers city, which has a capacity of about 10 thousand workers, and the construction of 1876 prefabricated units outside the project site has been completed, delivered and installed in the workers city, and work has been completed in the agricultural nursery with an area of ​​one million square meters (100 hectares). ), Fully operational and this nursery will supply the destination with about 15 million seedlings.

The Red Sea Development Company has also entered into partnerships with many ministries and scientific and academic institutions, such as the partnership with the King Abdullah University for Science and Technology (KAUST), which resulted in the marine spatial planning program to define the land and marine areas protected at the project site.

This program provided the project’s master plan with an expected environmental conservation rate of 30% by 2040, in line with the company’s commitment to setting new standards for sustainable development.

The company is working to implement its plans to launch the largest marine reserve in the Middle East, which will cover an area of ​​about 5,000 and 400 square meters, and the company is also developing plans to implement a number of innovative methods to neutralize carbon, and increase the number of algae and mangroves and their habitats in the destination.

The company is keen to use environmentally friendly materials in construction processes, including green concrete, to reduce carbon emissions during its manufacturing stages, which include additional steps to ensure its sustainability.

In this context, the CEO of The Red Sea Development Company said: “The process of selecting all our partners has been carefully selected to implement our principles in the field of sustainability and business. One of the most important milestones in the Red Sea project is our commitment to the concept of renewable development and because sustainability alone is not enough, we are keen to improve the destination for future generations.” .

By the end of 2020, contracts will be awarded to construct the airport’s ground infrastructure, operate the airport, and a utility package for public and private partnerships (PPP), which will rely entirely on 100% renewable energy, and other contracts for water desalination, waste treatment and cooling, and the total value of these contracts is approximately 15 billion Saudi riyals.