RSG and Kingdom Holding Company bring first joint venture-developed resort at The Red Sea to market.
Red Sea Global (RSG), the regenerative tourism developer, has reached a major milestone as Four Seasons Resort and Residences Red Sea at Shura Island welcomes first guests from 20 May, marking the first joint venture-developed resort within its portfolio to enter the market.
Developed in partnership with Kingdom Holding Company (KHC), the launch represents a shared milestone for both organisations and marks a new phase in RSG’s development model, highlighting the growing role of institutional and private sector partnerships in scaling Saudi Arabia’s luxury tourism sector.
“With Four Seasons preparing to welcome guests, we are significantly scaling the capacity and offering of The Red Sea destination in time for one of the busiest travel periods in our calendar,” said John Pagano, Group CEO at Red Sea Global. “Launching reservations for the first joint venture-developed resort in our portfolio is also an important commercial milestone for RSG, demonstrating the value of strategic partnerships, the strength of our investment proposition and reflecting growing market confidence in Saudi Arabia’s tourism sector.”
The SAR 2.6bn resort was developed through a 50-50 joint venture between RSG and KHC, with SAR 2bn debt financing provided by Riyad Bank.
