International
Saudi Arabia AMAALA has signed more than 300 contractual agreements
Seetao 2022-09-09 10:17
  • Saudi Arabia is undergoing a major economic transformation, in line with its overarching Vision 2030 Strategy
  • Saudi Arabia has announced a series of ambitious new projects to support its plans, such as the Neom and Red Sea projects, which in turn have created hundreds of thousands of jobs
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Saudi Arabia's ultra-luxury development, AMAALA, is being developed by the Red Sea Development Company and has so far signed more than 300 contracts worth over $1.7 billion. More than 98 percent of the contracts have been awarded to Saudi companies, demonstrating the company's commitment to strengthening the local economy. Additional contracts worth 6.1 billion riyals are currently not tendered among 54 proposals.

John Pagano, CEO of TRSDC Group, said the more than 300 contract awards underscore the scale of the project and the significant progress we have made as we move forward with on-the-ground activities to bring our destinations to life. Destinations will undoubtedly be an important stepping stone in redefining tourism in the region and beyond as we translate regeneration commitments into concrete actions.

AMAALA is one of the most ambitious projects in Saudi Arabia, covering more than 4,155 square kilometers. The first phase of the project is expected to be completed in 2024, with 8 hotels and 1,200 hotel keys. When fully completed in 2027, it will offer approximately 3,000 rooms in 25 hotels as well as high-end retail, fine dining, wellness and entertainment facilities.

The AMAALA project is also expected to create 50,000 new direct, indirect and induced jobs for Saudis and, once fully operational, will contribute more than 11 billion riyals to the country’s gross domestic product. Ahmad Darwish, chief administrative officer of TRSDC and AMAALA, said both the Red Sea Project and AMAALA are year-round tourist destinations. TRSDC and AMAALA are now leading the journey from sustainability to regenerative tourism. Keywords: engineering news, overseas news

Darwish said we are moving from sustainable development to regenerative tourism. It's not just about maintaining the status quo. It is improving the situation. We are trying to do better for the environment and habitat.Editor/XingWentao

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