Saudi Arabia’s Red Sea Global (RSG) has announced the successful completion of an investment deal with Kingdom Holding Company (KHC).
The SR2bn ($533m) joint venture brings together RSG and KHC in a 50/50 partnership to develop and own the Four Seasons Resort Red Sea, Saudi Arabia, expected to open in early 2025. The highly anticipated luxury resort is situated on Shura Island, the main hub for Red Sea destinations.
Four Seasons Resort Red Sea, Saudi Arabia
It will offer 149 rooms and suites, plus 31 residential properties, as well as six restaurants and lounge outlets, meeting and events spaces, a marine discovery centre, and a Kids For All Seasons space.
RSG Group CEO John Pagano said: “This partnership strengthens our unwavering commitment to transforming the tourism landscape in Saudi Arabia.
“We share a common vision of creating extraordinary destinations that not only drive economic growth and job creation, but also preserve precious ecosystems, aligning perfectly with the aspirations outlined in Vision 2030”.
KHC CEO Talal Ibrahim Almaiman said: “We are proud to partner with RSG in the execution of one of the Kingdom’s most exciting projects and look forward to creating value for our respective shareholders.
“This investment will form part of our broader strategy for further investments in the Saudi Arabian high growth market.
“Shura Island will be home to a total of 11 resorts, and will include residential properties, an 18-hole championship golf course, a 118-berth marina, and an exceptional retail, dining, and entertainment experience”.
