Red Sea Global (RSG) has entered into a new strategic partnership with the Royal Commission for AlUla (RCU).
The two entities signed a Memorandum of Collaboration this week. While Red Sea Global is the developer behind The Red Sea and Amaala projects, RCU is responsible for preserving the region of AlUla in the northwest of the kingdom.
The latest agreement between the two entitles is geared towards the exchange of knowledge and expertise between RSG and RCU on development practices that regenerate the environment, support local communities, and create an attractive investment landscape to further diversify the Saudi economy.
It will also look at ways to enhance professional opportunities for young Saudi talent looking to enter the travel industry.
“As a custodian of some of Saudi Arabia’s most precious sites of natural beauty, environmental value, and vibrant community life, we are dedicated to spearheading a new model of development that prioritises people and the planet,” said John Pagano, group CEO of Red Sea Global.
RSG is preparing to welcome the first guests to its flagship destination of The Red Sea this year.
Upon full completion in 2030, the destination will have 50 hotels with up to 8,000 hotel rooms as well as residential properties, while Amaala will offer over 3,000 hotel rooms and 1,200 luxury apartments and villas once finished.
Guests will have access to marinas, golf courses and high-end retail, as well as fine dining, wellness and leisure facilities. These destinations are expected to contribute a combined SAR33 billion, and as many as 120,000 jobs, to the Saudi economy.
Over at AlUla, several top-tier hotel groups have confirmed upcoming projects within the area. A new Chedi property will be established within the UNESCO World Heritage site of Hegra in AlUla. The boutique hotel will feature only 35 guest rooms and is expected to open to guests by Q4 2023.
RCU will also develop a new eco-luxury resort that will be operated by Mexican luxury brand AZULIK and designed by Roth Architecture.
The AZULIK AlUla Resort will be located within the Nabatean Horizon District of AlUla’s Journey Through Time (JTT) masterplan and is slated to open in 2027.