Saudi Top Tourism Developer Rebrands to Red Sea Global and Plans 16 New Resorts
Saudi Arabia's flagship tourism project developer has rebranded to Red Sea Global (RSG) and said it would open three resorts in 2023 and 13 more in 2024, reported Al Arabiya on Tuesday.
Formerly known as The Red Sea Development Company (TRSDC), Red Sea Global has long been working on a project along the Red Sea and Amaala, a resort being constructed on Saudi Arabia’s northwest coast. Both efforts are part of the country’s efforts to diversify its economy by boosting new sectors such as tourism while using renewable energy.
On Tuesday, the developer said its mandate had expanded to oversee up to a dozen projects stretching the length of the Red Sea coast of Saudi Arabia, with the potential to expand beyond the kingdom. It plans to open 16 resorts between now and 2024.
Red Sea Global is a closed joint-stock company owned by the Saudi Public Investment Fund.
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