The firm is currently overseeing the creation of two luxury tourism destinations in the Kingdom that aim to keep Saudi Arabia firmly on the global tourism map.
The Red Sea tourism hub is on track to welcome first visitors in early 2023 and RSG’s mandate has expanded to oversee upwards of a dozen projects stretching the length of the Red Sea coast, with the potential to expand beyond the Kingdom in the future. Luxury hoteliers that have already come on board for the Red Sea Project include EDITION Hotels and St Regis Hotels & Resorts, part of Marriott International; Fairmont Hotel & Resorts, Raffles Hotels & Resorts and SLS Hotels & Residences, part of the Accor hospitality group; Grand Hyatt, part of Hyatt Hotels Corporation; Intercontinental Hotels & Resorts and Six Senses, part of IHG Hotels & Resorts; and Jumeirah Hotels & Resorts, plus more recently, Ritz Carlton Reserve and Miraval hotels and Rosewood.
“The announcement today marks the start of our evolution into a truly global developer that can lead the category towards a new archetype for development.
“We are not only expanding our footprint to help create massive economic opportunities – valued at hundreds of billions worth of riyals – for the people of Saudi Arabia. We also want to set new global standards in development and inspire the industry to do better,” said John Pagano, CEO of The Red Sea Development Company.
RSG has a growing portfolio of projects stretching along the Red Sea coast of Saudi Arabia, with more than five additional projects already under feasibility study, entering masterplan competition phase, or at which construction has already started.
The company also revealed a new logo concept and brand, inspired by the Red Sea, home of the organisation’s flagship projects, and the global aspirations of the company to have a positive impact on development worldwide.