Red Sea Global (RSG) and Kingdom Holding Company (KHC) have entered into a remarkable $533 Million Joint Venture to create the Four Seasons Resort Red Sea, which will be located on The Beautiful Shura Island, featuring 149 rooms and suites and is due to open its doors to guests in early 2025.
Red Sea Global (RSG), known for its ambitious regenerative tourism ventures, has recently signed a milestone investment agreement with Kingdom Holding Company (KHC), a renowned global investment firm based in Saudi Arabia.
Joint Venture Details
This joint venture (JV) represents an investment worth $533 Million, setting the stage for a 50-50 partnership between RSG and KHC. The partnership sees the confluence of RSG’s revolutionary approach to sustainable tourism and KHC’s global investment prowess.
The Four Seasons Resort Red Sea
The Four Seasons Resort Red Sea, set on the main hub island of the Red Sea destination, Shura Island, promises to be a sought-after luxury resort.
With 149 rooms and suites and 31 residential properties, the resort includes six unique restaurants and lounge outlets, meeting and event spaces, a marine discovery center, and an engaging Kids For All Seasons space.
The Vision
As stated by the CEO of Kingdom Holding Company, Eng. Talal Ibrahim Almaiman, the partnership aligns perfectly with Vision 2030, aimed at transforming the tourism landscape in Saudi Arabia. The venture aims to drive economic growth, job creation, and the preservation of precious ecosystems.
“This partnership strengthens our unwavering commitment to transforming the tourism landscape in Saudi Arabia. We share a common vision of creating extraordinary destinations that drive economic growth and job creation and preserve precious ecosystems, aligning perfectly with the aspirations outlined in Vision 2030,” Eng. Talal Ibrahim Almaiman.
Shura Island: A Future Hub for Luxury Resorts
Shura Island is set to host a total of 11 resorts. The Island will include residential properties, an 18-hole championship golf course, a 118-berth marina, and an exceptional retail, dining, and entertainment experience.
A Time of Remarkable Growth
The collaboration between RSG and KHC comes when tourism in the Kingdom is experiencing significant growth. Tourism’s share of GDP has jumped from a modest 3% to an impressive 7% since the launch of Vision 2030.
Pioneering a New Era in Regenerative Tourism
Upon full completion in 2030, the destination will comprise 50 resorts, offering 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The destination also includes luxury marinas, golf courses, entertainment, F&B, and leisure facilities.
“Achieving this investment deal with Kingdom Holding Company is a testament to the private sector’s confidence in our destinations. Together, we are pioneering a new era in regenerative tourism,” said Gregory Djerejian, Group Head of Investments and Legal at RSG.
A Better Future For All
Red Sea Global is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia. RSG seeks to lead the world towards a more sustainable future, showing how responsible and regenerative development can uplift communities and enhance the environment.
The organization seeks to create a better future for all, with the protection of natural capital central to all development decisions.
Recent Red Sea Hotel Openings
Six Senses Southern Dunes operated by IHG Hotel & Resorts recently opened as the first hotel in The Red Sea Giga Project and is accessible from the new Red Sea International Airport. Follow The Saudi Boom for more updates.
