Red Sea Development courts investors for flagship project
The Red Sea Development Co. invited competent private sector firms to take part in the development of the Red Sea Project, the firm said on its Twitter account, citing Chief of Staff Ahmed Ghazi Darwish.
Darwish urged the private sector to communicate with his company in order to partner in the development of this “unique” touristic destination.
Red Sea Development, owned by the Public Investment Fund (PIF), announced in February that it has started the preliminary phase of construction at the Red Sea Project.
The project includes 22 islands out of over 90 islands and is expected to provide around 70,000 job opportunities. will be provided.
The project is also seen to drive economic diversification in the Kingdom by attracting around 1 million tourists per year and contributing SAR 22 billion to the Kingdom’s gross domestic product (GDP).