About The Red Sea Development Company
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 project will be developed over 28,000 km2 of pristine lands and watersalong Saudi Arabia’s west coast and includes a vast archipelago of more than 90 islands. The destination also features mountain canyons, dormant volcanoes, and ancient cultural and heritage sites. The destination will include hotels, residential properties, leisure, commercial and entertainment amenities, as well as supporting infrastructure that emphasizes renewable energy and water conservation and re-use.
Activity for the first phase of development, which focuses on enabling the infrastructure to support future work, is well underway. A marine infrastructure contract awarded in July 2019 includes the construction of a 3.3 km crossing to Shurayrah (the main hub) and development has begun at the Coastal Village, which will be home to around 14,000 people who will work at the destination.