The company has signed a framework co-operation agreement with the Kingdom’s Tourism Development Fund, Albilad Investment Comapny and Ekofine for $479M.
The fund will be responsible for the development and operation of a new luxury Rixos resort. The Rixos Emerald Shores project is completely unique to Saudi Arabia and will be constructed on a total area of 275,000sq m along the Red Sea beaches. The resort will feature a hotel, water park and luxury overwater villas.
Upon completion, the resort is expected to become one of the largest leisure and tourism destinations in the Kingdom, offering more than 500 rooms and 35 luxury villas that offer stunning views of the Red Sea coast. The resort will also feature a world-class water park, beaches, children’s clubs, gyms and more than 10 restaurants and cafes.
Rixos is a trademark owned by Accor International.
