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Partnerships

The Red Sea Project offers a wide variety of opportunities for companies to be part of one of the world’s fastest growing tourism markets.

Investment opportunities exist across all phases of the development, from the commercial components of the project such as hospitality, residential, retail and entertainment to concessions for utility infrastructure, power generation, transportation and other hard infrastructure.

Additional opportunities exist for service providers across the full scope of the development and operation of the destination, from contracting on the many individual assets that will make up the site to providing guest-related services and tourism experiences.

We are also identifying partners for the provision of community services to support the 40,000+ employees and dependents that will live at the destination. Opportunities exist across education, healthcare, accommodation and public services, among others.

Our strategy is to partner with best-in-class brands with the reach and credibility needed to support our activities. We are engaging with third parties who are interested in working with us on realizing the objectives of the project and who share our commitment to enhance, not exploit, the natural ecosystems that make the destination so unique.

The detailed design phase for various built assets is underway and we are pursuing partnerships with likeminded organizations that share our commitment to sustainable development.

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Tourism is a key component of Saudi Arabia’s economic diversification plan. Tourism accounts for some 10 percent of global GDP. In Saudi Arabia, tourism makes up only 3.5 percent of GDP, mostly from religious visits. Developing the tourism sector represents an enormous growth opportunity, and so the government is giving the industry its full backing, regarding it as fundamental to the success of the Vision 2030 strategy.

The Red Sea Project offers numerous investment opportunities centered on a uniquely diverse range of visitor experiences, complemented by comprehensive food and beverage, retail, leisure, wellness and entertainment offerings.

The Red Sea Project is ideally positioned to respond to international global tourism trends as well as capturing a share of the SAR 62 billion in outbound tourism spend from Saudi Arabia.

The Project is being developed by the Red Sea Development Company, which is a 100 percent closed joint stock company owned by the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund.

The destination will operate as a Special Economic Zone with its own laws and regulatory framework, specially created to encourage investment opportunities and commercial activities.

The luxury travel market is the fastest growing segment in the tourism industry. Over the next 10 years, outbound luxury trips are expected to grow by more than 6 percent, compared to the 4.8 percent growth forecast for overall travel.

The Red Sea Project is aligned with current and emerging trends in the luxury travel market. It offers a diverse range of unique experiences within a comparatively accessible area. It provides a wide variety of opportunities for cultural engagement.

It aims to provide visitors with an unparalleled variety of immersive experiences delivered to the highest standards of personalized, luxury service.

It will offer travelers the satisfaction of knowing their visit will help preserve the area’s extraordinary natural beauty.

We will create an exceptional range of Hyper Luxury, Luxury and Premium luxury hospitality options. These will range from exclusive mono-island luxury properties to design-driven beachfront resorts; holistic wellness retreats and destination spas, to unique inland experiences in the mountains and desert dunes.

We are also developing a competitive, comprehensive residential offering for investors who seek a more permanent connection with the destination.

The destination will offer a variety of residential properties in branded and non branded communities, alongside fully-integrated lifestyle options including food and beverage, luxury retail, entertainment, cultural and recreational activities.

It is planned to offer 1,300 residential units in branded and non-branded communities, alongside fully-integrated lifestyle options including food and beverage, luxury retail, entertainment, cultural and recreational activities.

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