Red Sea Global

Red Sea Global is a Saudi closed joint-stock company, wholly owned by the Public Investment Fund. It is the developer of the 'Red Sea' and 'Amaala' destinations. It was established in 2018 as Red Sea Development Company, and in 2022, its name was changed to Red Sea International Company.

The headquarters of Red Sea Global is based in the capital, Riyadh, and has on-site project branches. The company’s board of directors is chaired by His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz Al Saud, crown prince, prime minister, chairman of the Council for Economic and Development Affairs, and chairman of the Board of Directors of the Public Investment Fund.

On October 25, 2022, the developer standing behind two of the world's most ambitious regenerative projects announced its expansion to become Red Sea Global (RSG). The real estate development company 'Red Sea Global', formerly known as 'Red Sea Development Company', currently oversees the development of two luxury tourist destinations in the Kingdom: 'Red Sea' and 'Amaala'.

The expansion of Red Sea Global’s project portfolio included the launch of a series of subsidiaries aimed at advancing development in the tourism sector and related industries in the Kingdom. These brands, owned by Red Sea Global, will make way for maintaining employed sustainability standards during both the development and operational phases. Among these brands are a company specializing in seaplanes, and companies focused on hospitality and visitor experiences at its tourist destinations.

Red Sea Global employs a governance system that leads the company and ensures the achievement of its objectives, namely: the Board of Directors, Advisory Board, and Executive Management. The company follows in the footsteps of the global expertise garnered by the project executive team in the business, tourism, planning, sustainability, environment, and project finance sectors.

Since its inception, Red Sea Global has commenced the initial phase of the Red Sea project, including infrastructure preparation, road construction, and other basic logistics. The construction and development activities at the project continued until the second half of 2019. The company is expected to complete the first phase of the project in 2023 and is scheduled to be fully completed by 2030.

Red Sea Global is implementing the Red Sea Development Project in the western part of the Kingdom, specifically between the coastal governorates of al-Wajh and Ummlujj, on an area of up to 28,000 km. The project is described as one of the most ambitious tourism projects in the world; stretching along two hundred km and comprising an archipelago of more than ninety pristine islands. The project also encompasses a variety of natural terrain such as mountains, deserts, and canyons, and the company works to maintain environmental sustainability, promote biodiversity, and fully rely on renewable energy, all while providing sophisticated luxury tourist destinations.

The company has established itself in the fields of risk management, energy, and environmental design. The Red Sea Global received the ISO certification in the field of risk management. Additionally, the Red Sea Development project received one of the highest certifications from the U.S. Green Building Council, the LEED Platinum certification for cities. It is the first project in the Middle East to meet the specific criteria required to obtain this certification.

The Red Sea Global offers scholarships to high school graduates of both genders, including opportunities to obtain bachelor's degrees in international hospitality management, sponsored by the University of Prince Muqrin and accredited by École Hôtelière de Lausanne, Switzerland. The tuition stage ends with employment at the company or in one of Red Sea Global’s affiliates working on the project. There are also programs dedicated to university graduates, such as the Elite Graduate Program, which provides on-the-job training opportunities in various specialties and fields, with benefits suited to their tasks and job roles.

The Red Sea Global offers several initiatives, including the Amerah Souq – a socioeconomic empowerment initiative – the first market of its kind to highlight authentic local products in the city of Ummlujj. The initiative aims to develop small and medium-sized business outputs and improve domestic output by providing vendors with a direct market where farmers, owners of heritage crafts, and artists showcase their work and products comprised of local food and artistic products and craftsmanship.

As part of the community development initiatives aimed at honing community skills, Red Sea Global offers a six-month online English training program. The company also launched the Red Sea Global Art Competition to find and highlight the best Saudi talents through artworks that showcase the beauty of the Red Sea. The competition includes a wide range of art categories and mediums.

Furthermore, through the Ecotecture Design Competition, Red Sea Global also offered students of both genders enrolled in Saudi universities' architecture and design faculties the opportunity to create sustainable designs to contribute to the development of the community of the residential neighborhood in the staff city under construction in the Red Sea project.

Red Sea Global was awarded the Green Key certification for its staff hotel in Turtle Bay at the Red Sea destination, becoming the first Saudi real estate developer to receive this global certification in recognition of its environmental protection efforts.

Green Key Global – an independent international environmental certification body – conducted an independent assessment to monitor compliance levels of seventy-seven standards within thirteen categories, before the certificate was awarded to Red Sea Global in April 2023.