A host of giga projects – large, government-funded initiatives designed to diversify the economy – are set to drive growth in the Saudi Arabia hospitality market in the coming years.
Key among them is the Red Sea Development, which is closest to fruition.
The project will be developed over 28,000 square kilometres of pristine land on Saudi Arabia’s west-coast and includes a vast archipelago of more than 90 islands.
The destination also features mountain canyons, dormant volcanoes and ancient cultural and heritage sites.
The destination will include hotels, residential properties, leisure, commercial and entertainment amenities, as well as supporting infrastructure that emphasizes renewable energy and water conservation and re-use.
Activity for the first phase of development, which focuses on enabling the infrastructure to support future work, is well underway.
A marine infrastructure contract awarded in July last year includes the construction of a 3.3-kilometre crossing to Shurayrah (the main hub) and development has begun at the Coastal Village, which will be home to around 14,000 people who will work at the destination.
Most recently, the Red Sea Development Company awarded the design contract for the destination’s international…