Saudi Crown Prince Announces Development of Sindalah Island, First Sea Destination in NEOM

The Sindalah Island. The Crown Prince announced the development of the island. (SPA)
The Sindalah Island. The Crown Prince announced the development of the island. (SPA)
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Saudi Crown Prince Announces Development of Sindalah Island, First Sea Destination in NEOM

The Sindalah Island. The Crown Prince announced the development of the island. (SPA)
The Sindalah Island. The Crown Prince announced the development of the island. (SPA)

Saudi Crown Prince and Prime Minister Mohammed bin Salman, the Chairman of the NEOM Company Board of Directors, has announced the development of Sindalah, the first luxury island destination in NEOM and one of the most important projects supporting Saudi Arabia’s national tourism strategy.

A main gateway to the Red Sea offering bespoke nautical experiences, Sindalah is expected to start welcoming guests to enjoy its exquisite facilities and exclusive offerings from early 2024. The development will create 3,500 jobs for the tourism sector and hospitality and leisure services.

Extending over an area of approximately 840,000 square meters, Sindalah, is one of a group of islands that will be developed in NEOM, each according to its unique vision and design.

The Crown Prince said: “This is another significant moment for NEOM and a major step in the Kingdom realizing its tourism ambitions under Vision 2030. Sindalah will be NEOM’s first luxury island and yacht club destination in the Red Sea, providing a scenic gateway to the Red Sea that will become the region’s most exciting and attractive tourism location. It will be a destination where travelers can experience the true beauty of NEOM and Saudi Arabia, above and below the water, making Sindalah the future of luxury travel.”

Adding to NEOM’s growing tourism offerings, Sindalah will reshape the luxury international yachting calendar offering a new season for visitors and guests to enjoy. It will feature a prestigious 86-berth marina, an ideal destination for accommodating luxury vessels, while offshore buoys will house superyachts.

Providing one-of-a-kind nautical experiences, Sindalah will offer 413 ultra-premium hotel rooms, in addition to 333 top-end serviced apartments. A luxe beach club, glamorous yacht club, and 38 unique culinary offerings will provide an incomparable experience in the Red Sea.

With its incredible array of amenities, state-of-the-art marine facilities, strategic location and exceptional natural landscapes, Sindalah is expected to become one of the most alluring islands in the Red Sea.

Building on its ability to design new tourism opportunities from the ground up, NEOM is working with world-class leisure and hotel brands to make Sindalah an exclusive and glamorous destination in the Red Sea for the world’s yachting community.

NEOM is developing the island to be a premium destination surrounded by a stunning and diverse marine environment which has one of the world’s most beautiful coral reserves.

Sindalah is also expected to become a popular golfing destination by offering enthusiasts the opportunity to experience a world-class 6,474-yard (5,920 meters) par 70 course. With its 18 tees, the Sindalah golf course will deliver two unique nine-hole experiences.

The announcement of Sindalah affirms the accelerated pace in the development of NEOM towards achieving the ambitious vision of the Crown Prince, with the development of its flagship projects such as THE LINE, its designs recently revealed by the Crown Prince; TROJENA, its global mountain tourism destination that will be the Arabian Gulf’s first outdoor skiing retreat; and OXAGON, its reimagined manufacturing and innovation city.

All NEOM projects are aligned to redefine the way humanity lives and works in harmony with nature.



Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)

Saudi Arabia’s non-oil exports soared to a two-year high in May, reaching SAR 28.89 billion (USD 7.70 billion), marking an 8.2% year-on-year increase compared to May 2023.

On a monthly basis, non-oil exports surged by 26.93% from April.

This growth contributed to Saudi Arabia’s trade surplus, which recorded a year-on-year increase of 12.8%, reaching SAR 34.5 billion (USD 9.1 billion) in May, following 18 months of decline.

The enhancement of the non-oil private sector remains a key focus for Saudi Arabia as it continues its efforts to diversify its economy and reduce reliance on oil revenues.

In 2023, non-oil activities in Saudi Arabia contributed 50% to the country’s real GDP, the highest level ever recorded, according to the Ministry of Economy and Planning’s analysis of data from the General Authority for Statistics.

Saudi Finance Minister Mohammed Al-Jadaan emphasized at the “Future Investment Initiative” in October that the Kingdom is now prioritizing the development of the non-oil sector over GDP figures, in line with its Vision 2030 economic diversification plan.

A report by Moody’s highlighted Saudi Arabia’s extensive efforts to transform its economic structure, reduce dependency on oil, and boost non-oil sectors such as industry, tourism, and real estate.

The Saudi General Authority for Statistics’ monthly report on international trade noted a 5.8% growth in merchandise exports in May compared to the same period last year, driven by a 4.9% increase in oil exports, which totaled SAR 75.9 billion in May 2024.

The change reflects movements in global oil prices, while production levels remained steady at under 9 million barrels per day since the OPEC+ alliance began a voluntary reduction in crude supply to maintain prices. Production is set to gradually increase starting in early October.

On a monthly basis, merchandise exports rose by 3.3% from April to May, supported by a 26.9% increase in non-oil exports. This rise was bolstered by a surge in re-exports, which reached SAR 10.2 billion, the highest level for this category since 2017.

The share of oil exports in total exports declined to 72.4% in May from 73% in the same month last year.

Moreover, the value of re-exported goods increased by 33.9% during the same period.