The Saudi Red Sea Development Company (TRSDC), the developer behind two of the world’s most ambitious regenerative tourism projects, The Red Sea and Amaala, has confirmed its transformation into Red Sea Global (RSG) on the sidelines of the sixth Future Investment Initiative (FII) in Riyadh.
The company prioritizes delivering a positive impact for people and the planet and is on track to place Saudi Arabia firmly on the global tourism map.
Following the successful delivery of critical milestones, and with The Red Sea destination on track to welcome first visitors in early 2023, RSG’s mandate has expanded to oversee upwards of a dozen projects stretching the length of the Red Sea coast of Saudi Arabia, with the potential to expand beyond the Kingdom in the future.
John Pagano CEO – RSG
“With The Red Sea and Amaala we’ve proven our ability to realize mega-scale responsible developments that positively shape the futures of both the people who we welcome and employ, and the places in which we operate. The announcement today marks the start of our evolution into a truly global developer that can lead the category toward a new archetype for development. We are powered by extraordinary people from the Kingdom and beyond, and have the skills, knowledge, and experience required to succeed on the world stage.”
RSG has a growing portfolio of projects stretching along the Red Sea coast of Saudi Arabia, with more than five additional projects already under a feasibility study, entering the masterplan competition phase, or at which construction has already started.
The expanded mandate also includes the establishment of a series of subsidiary businesses to drive an uplift in the Saudi tourism sector and associated industries. Such RSG-owned businesses allow the organization to maintain its stringent sustainability standards in the development and operational phases, and span the creation of a seaplane company, through to hospitality and guest experience brands.
The global multi-project developer’s existing two Giga projects under delivery are projected to contribute some $8.7 billion annually to the Kingdom’s economy on completion, evidencing the economic boon that RSG can deliver as it expands. RSG’s projects also focus on enhancing the well-being of communities, including comprehensive training programs for the next generation of Saudi talent.
To date, across the two live projects, the company has awarded more than 1300 contracts worth nearly $8.5 billion, with some 70 percent of the total value awarded to Saudi companies reflective of the organization’s ambition to positively impact the local economy.
Over the last five years, the company has successfully launched programs geared towards the upskilling and training of young Saudis. Such efforts support the creation of a pool of talent, which will power the delivery of the Groups portfolio of projects and the wider growth of the tourism sector in the Kingdom.
The programs include;
The Elite Graduate Program has brought in more than 120 fresh graduates to the organization for on-the-job training over the last four years, with the next batch of graduates set to join in early 2023. An additional 1500 vocational training places have also been provided and students who complete the program will be employed by RSG or one of its partners.
A partnership with the University of Prince Megrin provided 220 scholarships so far with 50 more sets to be provided in 2023. The undergraduate studies, led to a Bachelor of Science Degree in International Hospitality Management, which is accredited by the prestigious Ecole hôtelière de Lausanne (EHL).
RSG’s ground-breaking approach toward responsible development has seen the company explore and, in some cases, implement experimental technologies and pilot programs to help solve some of the world’s most complex and pressing challenges, such as off-site manufacturing and modular construction methods at scale, green concrete to limit emissions, destination-wide clean mobility strategies, and even sustainable food production through new farming approaches.
The announcement also revealed a stunning new logo concept and brand, inspired by the Red Sea, home of the organization’s flagship projects, and the global aspirations of the company to have a positive impact on development worldwide.
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