Red Sea Global (RSG; ), previously known as The Red Sea Development Company, is a

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parce ...

company based in

Tabuk Tabuk may refer to: *Tabuk, Kalinga, the capital city of Kalinga province of the Philippines *Tabuk Province, a province of Saudi Arabia **Tabuk, Saudi Arabia, capital city of the province ** Tabuk Regional Airport *Expedition of Tabuk, a military ...

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area of about , making it the List of Asian countries ...

. The company was founded in July 2017 by the Saudi

crown prince A crown prince or hereditary prince is the heir apparent to the throne in a royal or imperial monarchy. The female form of the title, crown princess, is held by a woman who is heir apparent or is married to the heir apparent. ''Crown prince ...

Mohammed bin Salman Mohammed bin Salman Al Saud (; born 31 August 1985), also known as MBS or MbS, is the ''de facto'' ruler of the Saudi Arabia, Kingdom of Saudi Arabia, formally serving as Crown Prince of Saudi Arabia, Crown Prince and Prime Minister of Sa ...

, and is owned by the

Public Investment Fund The Public Investment Fund (PIF; ) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of billion. It was created in 1971 for the purpose of investing funds on be ...

. As one of Saudi Arabia's Vision 2030 goals, Red Sea Global aims to diversify the

Saudi economy The economy of Saudi Arabia is highly reliant on its petroleum sector. Oil accounts for approximately 30% of Saudi GDP and 55% of government revenue, with substantial fluctuations depending on oil prices each year. The kingdom has the seco ...

away from

fossil fuels A fossil fuel is a flammable carbon compound- or hydrocarbon-containing material formed naturally in the Earth's crust from the buried remains of prehistoric organisms (animals, plants or microplanktons), a process that occurs within geologica ...

by contributing to the growth of its tourism sector.

History

Red Sea Global was officially launched by the Saudi

on 31 July 2017 as "The Red Sea Development Company". It is one of the 5

Saudi Vision 2030 Saudi Vision 2030 (, sometimes called Project 2030) is a government program launched by Saudi Arabia which aims to achieve the goal of increased diversification economically, socially, and culturally, in line with the vision of Saudi crown pri ...

megaprojects which are

Neom Neom (styled NEOM; , ) is an arcology and planned city being built by Saudi Arabia in Tabuk Province. Launched in 2017 by crown prince Mohammad bin Salman, the site is at the northern tip of the Red Sea, due east of Egypt across the Gulf of A ...

Roshn Roshn (stylized ROSHN; ) is a real estate development company based in Saudi Arabia. The company was founded in August 2020 by the Saudi Public Investment Fund as one of its Megaprojects. As one of Saudi Arabia's Vision 2030 goals, Roshn aims t ...

Qiddiya Qiddiya (, ) is a planned entertainment and tourism megaproject in Riyadh, Saudi Arabia. Construction started at the beginning of 2019. It was planned to open in 2023, though as of 2024, major projects including Six Flags Qiddiya City, the Aquar ...

, and

Diriyah Diriyah (; formerly romanization of Arabic, romanized as Dereyeh and Dariyya) is a towns in Saudi Arabia, town and governorate in Saudi Arabia. Located on the northwestern outskirts of the Saudi capital, Riyadh, Diriyah was the original home of t ...

Company. In June 2023, Red Sea Global signed a deal with Al-Ahli Football Club to become its platinum sponsor.

Projects

The Red Sea Project

Built in an

archipelago An archipelago ( ), sometimes called an island group or island chain, is a chain, cluster, or collection of islands. An archipelago may be in an ocean, a sea, or a smaller body of water. Example archipelagos include the Aegean Islands (the o ...

consisting of 92 different islands,

The Red Sea Project The Red Sea Project (), simply referred to as the Red Sea (), is a regenerative tourism megaproject on the Red Sea coast of Saudi Arabia. The project, which is developed by Public Investment Fund-owned Red Sea Global, forms part of the Saudi Vis ...

is the largest of Red Sea Global's projects in terms of scale. The Construction of the project official began in February 2019. The project includes the following destinations: *Shura Island: The island is the main hub of red sea project. Shura island is home to Coral Bloom project designed by

Foster and Partners Foster and Partners (also Foster + Partners) is a British international architecture firm with its headquarters in London, England. It was founded in 1967 by British architect and designer Norman Foster. The firm has been involved in the desig ...

. *Ummahat Islands: Ummahat is home to both St. Regis Red Sea Resort and Nujuma by

The Ritz-Carlton The Ritz-Carlton Hotel Company, LLC is an American multinational company that operates the luxury hotel chain known as The Ritz-Carlton. The company has 108 luxury hotels and resorts in 30 countries and territories with 29,158 rooms, in addit ...

. *Sheybarah Island: The island is home to Shebara Resort, which features reflective overwater orb villas designed by Killa Design. The 150-ton villas were transported and installed by Mammoet. *Southern Dunes: A luxury inland resort by Six Senses, 100km northeast of the town of

Umluj Umluj () is one of the governorates in Tabuk Region, Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsul ...

. *Desert Rock: A luxury inland resort of villas and hotel rooms carved into granite mountains. The destination is designed by

Oppenheim Architecture Oppenheim Architecture is an architecture, planning, and interior practice based in Miami, New York, and Basel founded in 1999 by Chad Oppenheim. The firm has received multiple distinctions, including over 45 AIA Awards. Projects range between hos ...

. * Laheq Island: a 400-hectare private residential island. The island was designed by

and is expected to be open in 2028. The Red Sea project is accessed by the Red Sea International Airport. The airport began operations in September 2023 with an inaugural flight from

King Khalid International Airport King Khalid International Airport (; ) is an international airport located about north of Riyadh, Saudi Arabia. This airport consists of five Airport terminal, passenger terminals with eight aero-bridges each, a mosque, and parking facilities ...

Riyadh Riyadh is the capital and largest city of Saudi Arabia. It is also the capital of the Riyadh Province and the centre of the Riyadh Governorate. Located on the eastern bank of Wadi Hanifa, the current form of the metropolis largely emerged in th ...

, via

Saudia Saudia (), formerly known as Saudi Arabian Airlines (), is the flag carrier of Saudi Arabia based in Jeddah. The airline's main hubs are the King Abdulaziz International Airport in Jeddah and the King Khalid International Airport in Riyadh, the ...

. In April 2024, the airport received its first international flight from

Dubai International Airport Dubai International Airport () is the primary international airport serving Dubai, United Arab Emirates, and is the world's busiest airport by international passenger traffic as of 2024. It is also the busiest airport in the Middle East as ...

via

flydubai Dubai Aviation Corporation (), doing business as flydubai (), is an Emirati government-owned airline based in Dubai, United Arab Emirates. The airline mainly operates out of Terminal 2 at Dubai International Airport, though some flights fly out ...

Amaala

Announced in September 2018, Amaala is a tourist destination that covers an area of 3,800 km². Amaala includes 3 main regions: *Triple Bay: A wellness hub that includes various activities including yachting, golfing, and falconry. Triple Bay will also include marine life institute research and education centre. *The Island *The Coastal Development Amaala will be accessible via a dedicated airport.

Thuwal

Announced in October 2023, Thuwal is a buy-out-only private island. Thuwal covers an area of 17,000 m².

Promotion

In March 2024, famous

football Football is a family of team sports that involve, to varying degrees, kick (football), kicking a football (ball), ball to score a goal (sports), goal. Unqualified, football (word), the word ''football'' generally means the form of football t ...

player

Cristiano Ronaldo Cristiano Ronaldo dos Santos Aveiro (; born 5 February 1985) is a Portuguese professional Association football, footballer who plays as a Forward (association football), forward for and Captain (association football), captains both Saudi Pr ...

, which at the time was a player for the Saudi team

Al Nassr Al-Nassr Football Club () is a professional football club based in Riyadh, Saudi Arabia. The club competes in the Saudi Pro League, the top tier of the Saudi football league system. Al-Nassr is one of only three clubs to have participated ...

, visited the Red Sea destination. Ronaldo promoted the destination on his

Instagram Instagram is an American photo sharing, photo and Short-form content, short-form video sharing social networking service owned by Meta Platforms. It allows users to upload media that can be edited with Social media camera filter, filters, be ...

account, which at the time had more the 600 million followers. In April 2024, Red Sea Global announced a collaboration with

Warner Bros. Discovery Warner Bros. Discovery, Inc. (WBD) is an American Multinational corporation, multinational mass media and Outline of entertainment, entertainment Conglomerate (company), conglomerate headquartered in New York City. It was formed from WarnerMedi ...

to produce a documentary titled "Beneath the Surface: The Fight for Corals".

References

External links

Visit Red SeaAmaalaThuwal Private Retreat
{{Saudi Arabia topics Business organisations based in Saudi Arabia Public Investment Fund