Kingdom Holding opens Four Seasons Red Sea resort

Logo of Kingdom Holding Co.

Kingdom Holding Co. announced the opening of the Four Seasons Resort Red Sea at Shura Island, which began welcoming guests on May 20.

In a statement to Tadawul, the company said the opening aligns with its long-term investment strategy in Saudi Arabia’s hospitality and tourism sector, noting that the new update has no new financial impact.

Red Sea Global Co. (RSG) announced in October 2023 an investment deal with Kingdom Holding to jointly develop and own the resort in a SAR 2 billion project, according to Argaam’s data.

The companies said the project is equally owned and located on Shura Island, the main island of the Red Sea destination, including 149 hotel rooms and suites, 31 residential properties, six restaurants, retail outlets, and other facilities.

Kingdom Holding previously said both companies committed to invest SAR 258 million each through special purpose vehicles (SPVs), while the remaining capital commitments would be financed through project-level borrowing.