Saudi Arabia's Royal Commission for AlUla (RCU) has signed a new partnership with Red Sea Global (RSG), a leading developer of luxury tourism projects in the kingdom. The partnership is aimed at developing and expanding the kingdom's tourism landscape, thus boosting it to become a global hub for tourists and investors.
The deal was signed between Amr AlMadani, the CEO of the Royal Commission for AlUla, and John Pagano, CEO of Red Sea Global. The agreement covers various areas of cooperation, such as:
Sharing knowledge, expertise, best practices, innovative ideas, and solutions to achieve the Kingdom's Vision 2030 aspirations.
Enhancing the tourism potential of both AlUla and the Red Sea region, which are located just 350 kilometers apart.
Preserving the natural beauty, environmental value, cultural heritage, and community life of both destinations.
Creating attractive investment opportunities and professional development programs for young Saudi talent in the tourism sector.
Supporting sustainability, art and culture, education and learning, eco-friendly transportation, construction management, and sports activities.
"National partnership are a vital pillar of our strategy, and the Memorandum of Collaboration between the Royal Commission for AlUla and our partners at Red Sea Global represents a new wave of multi-level cooperation across diverse areas of investment, all of which are aligned with the common goal of super-charging Saudi Arabia's burgeoning tourism sector", Amr AlMadani said.
Both RCU and RSG have gained global recognition for their efforts in making the Kingdom a popular tourist destination and a thriving center for economic growth. AlUla is home to the UNESCO World Heritage site of Hegra, as well as other archeological and natural wonders. The Red Sea project is a flagship destination that will offer 50 hotels with up to 8,000 hotel rooms and residential properties, as well as marinas, golf courses, and high-end retail. Amaala is another luxury project that will feature over 3,000 hotel rooms and 1,200 luxury apartments and villas.
These projects are expected to contribute a combined SAR33 billion ($8.8 billion) and as many as 120,000 jobs to the Saudi economy. They will also showcase a new model of regeneration that prioritizes peoples and the planet.
"As a custodian of some of Saudi Arabia's most precious sites of natural beauty, environmental value, and vibrant community life, we are dedicated to spearheading a new model of development that prioritizes people and planet", John Pagano said.
The new partnership between RCU and RSG is expected to further enhance Saudi Arabia's efforts to diversify its economy away from oil position itself as a leading global destination for tourists and investors.
