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Red Sea Global Awards $266 Mn Contract in Saudi Arabia

Red Sea Global Awards $266 Mn Contract in Saudi Arabia

Tuesday, 24 January, 2023 - 10:00
Triple Bay masterplan of the Red Sea Global (Asharq Al-Awsat)

The Saudi Red Sea Global awarded a Primary Infrastructure and Utility Contract of $266 million to the al-Ayuni Investment and Contracting to progress expansion at Amaala’s first phase of development across its Triple Bay masterplan.

Red Sea Global is developing The Red Sea and Amaala destinations in the Kingdom.

Al-Ayuni, classified as a “First Class” contractor in the Kingdom since 2006, will deliver state-of-the-art Primary Utility Infrastructure Systems while minimizing Triple Bay’s carbon footprint as part of Amaala’s commitment towards net-zero operations.

The CEO of Red Sea Group, John Pagano, said the deal forms a critical part of Red Sea Global’s ambition to pioneer a new relationship between luxury tourism and the natural environment.

“The sheer scale of the developments and our relentless pursuit of regenerative tourism requires meaningful partnerships that can deliver resilient infrastructure,” said Pagano.

He asserted that cooperation with al-Ayuni can collectively shape future developments in the Kingdom.

Al-Ayuni was selected based on its technical and commercial competencies and regional and global credentials.

All design and construction methods meet Red Sea Group’s stringent criteria for end-to-end sustainable development, including economic, financial, social, and institutional factors.

Al-Ayuni’s Chairman Faheed al-Ayuni indicated that Red Sea Global is a future-forward developer closely aligned with the company’s legacy of innovating world-class solutions, cementing trusted relationships, and setting new benchmarks.

Al-Ayuni asserted it was an “honor for us to contribute to its pioneering destinations, and we look forward to unlocking the full breadth of our robust capabilities to meet RSG’s ambitious sustainability targets.”

Amaala’s first phase of development, focused on the Triple Bay masterplan, will encompass eight hotels and upwards of 1,200 hotel keys upon full completion in 2027.

The destination will offer 3,000 hotel rooms across 25 hotels, high-end retail establishments, fine dining, wellness, and recreational facilities.

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