عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Coral Bloom, an International Tourism Destination on the Red Sea

The Coral Bloom project will revitalize the Red Sea region due to its designs inspired by beautiful landscapes and wildlife. (SPA)
The Coral Bloom project will revitalize the Red Sea region due to its designs inspired by beautiful landscapes and wildlife. (SPA)
TT
TT

Coral Bloom, an International Tourism Destination on the Red Sea

The Coral Bloom project will revitalize the Red Sea region due to its designs inspired by beautiful landscapes and wildlife. (SPA)
The Coral Bloom project will revitalize the Red Sea region due to its designs inspired by beautiful landscapes and wildlife. (SPA)

With the announcement by Saudi Crown Prince Mohammed bin Salman of a giant tourism project in the west of the Kingdom, experts told Asharq Al-Awsat that the Coral Bloom project would be able to revitalize the Red Sea region due to its designs inspired by beautiful landscapes and wildlife.

The Kingdom is heading towards an unprecedented tourism boom, according to the experts, following the recent announcement of a number of major projects. The Coral Bloom comes to activate the first investment in tourism on offshore islands in the country, they underlined.

The hotels and resorts will be operated by the most prestigious international hotel brands, while lightweight building materials with low thermal mass will be used, thus achieving higher energy efficiency and less impact on the environment.

The project responds to the concerns of visitors in wake of the Covid-19 pandemic, by providing wider spaces between hotels, villas and internal corridors.

The Red Sea Project will be developed as a luxury tourist destination that stretches over an area of 28,000 km, and includes more than 90 islands spread over an attractive coastline, characterized by soft white sands, dormant volcanoes, desert, mountains and stunning nature, in addition to distinctive cultural attractions.

The CEO of the Red Sea Development Company, John Pagano, said in recent statements that the estimated cost of the project ranged between 12 and 14 billion riyals (USD 3.7 billion).

The Coral Bloom will include 11 resorts and hotels operated by a number of the most famous global hospitality brands. All the hotels and villas will be composed of a one-story building, which will merge sand dunes, in order to ensure the preservation of the surrounding landscape without any obstruction to the magnificent view on the Red Sea.

Most Viewed

 
 
Business

Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
TT
TT

Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)

Kazakh Ambassador to Saudi Arabia, Madiyar Menilbekov, announced that his country eagerly anticipates the completion of ACWA Power’s first wind energy project in the Zhetysu region. This project, led by the Saudi company, will have a total capacity of 1 gigawatt and an investment value of approximately $1.5 billion.
ACWA Power announced last March that it would execute this project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. Construction is expected to commence in the summer of 2025.
Menilbekov told Asharq Al-Awsat that both countries “have established a solid political dialogue at a high level, along with cooperation in trade, economics, culture, and parliamentary exchange.” He expects this high-level dialogue to continue at the upcoming COP 16 summit in Riyadh.
He further emphasized that trade, economic, and investment cooperation is the cornerstone of the bilateral relationship, noting: “Both countries share a similar outlook on economic development, reflected in Kazakhstan’s Strategic Program 2050 and Saudi Arabia’s Vision 2030.”
The Kazakh ambassador highlighted that last September, the Islamic Development Bank approved financing for projects in Kazakhstan focused on water resource development, enhancing agricultural productivity, and ensuring food security, with total allocations amounting to $1.153 billion.
In tourism, he noted significant progress toward establishing direct flights between the two countries. Air Astana launched flights between Shymkent and Jeddah in October and announced a route from Almaty to Medina, bringing the total to six direct flights. Additionally, Kazakh companies in construction, oil services, and IT have recently opened offices across Saudi Arabia. The Farabi Innovation Center was inaugurated in Riyadh to attract talented entrepreneurs and innovative startups from Nur-Sultan and Central Asia to the Kingdom.
Menilbekov explained that since gaining independence, Kazakhstan’s GDP has grown 17-fold, with foreign trade reaching $139.8 billion last year. He added: “Since 1993, Kazakhstan has attracted a total of $441 billion in foreign direct investment, allowing our economy to remain one of the most dynamic in Central Asia and the post-Soviet region.”
According to Menilbekov, Kazakhstan is the world’s largest producer and exporter of natural uranium, responsible for more than 45% of global production and exports. He also noted that Kazakhstan produces 18 of the 34 raw materials identified by the European Union as “critical materials.”
Menilbekov further mentioned that Kazakhstan possesses 200 million hectares of agricultural land, with about 100 million hectares currently under regular cultivation.