Red Sea Global Awards Major Infrastructure Contract Worth Nearly SAR one Billion for AMAALA

Saudi-based AL-AYUNI Investment and Contracting Company appointed to progress development at AMAALA

Riyadh, 16 January, 2023: Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala, has awarded a Primary Infrastructure and Utility Contract valued at nearly SAR one billion.

The project will be undertaken by AL-AYUNI Investment and Contracting Company to deliver the first phase of development at Amaala, an ultra-luxury tourism destination located along the Kingdom’s north-western coast, across its Triple Bay masterplan.

AL-AYUNI, classified as a “First Class” contractor in the Kingdom since 2006, will be responsible for delivering state-of-the-art Primary Utility Infrastructure Systems, while minimizing Triple Bay’s carbon footprint as part of Amaala’s commitment towards net-zero operations.

“Today’s infrastructure deal forms a critical part of Red Sea Global’s ambition to pioneer a new relationship between luxury tourism and the natural environment. The sheer scale of the developments and our relentless pursuit of regenerative tourism require meaningful partnerships that can deliver resilient infrastructure. Together with AL-AYUNI Investment and Contracting Company, we are confident that we can collectively shape the future of developments in the Kingdom and beyond,” said John Pagano, Group CEO of Red Sea Global, the developer behind Amaala destination.

AL-AYUNI was selected based on its overall technical and commercial competencies, as well as regional and global credentials. All design and construction methods meet RSG’s stringent criteria for end-to-end sustainable development, including economic, financial, social, and institutional factors.

Faheed Al-Ayuni, Chairman of AL-AYUNI Investment and Contracting Company, said: “Red Sea Global is a future-forward developer that is closely aligned with our legacy of innovating world-class solutions, cementing trusted relationships, and setting new benchmarks. It is an honor for us to contribute to its pioneering destinations and we look forward to unlocking the full breadth of our robust capabilities to meet RSG’s ambitious sustainability targets.”

Amaala’s first phase of development, focused on the Triple Bay masterplan, will encompass eight hotels and upwards of 1,200 hotel keys, upon full completion in 2027, the destination will offer more than 3,900 hotel rooms across 29 hotels as well as high-end retail establishments, fine dining, wellness, and recreational facilities.

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Located along Saudi Arabia’s north-western coast and spanning 4,155 sq. km, the year-round destination features a pristine landscape and diverse natural ecosystems, coupled with a unique and intriguing heritage and local culture.

Designed to evolve and elevate the very best in travel, Amaala is an ultra-luxury destination and the first global integrated family wellness destination, set to curate transformative personal journeys inspired by arts, wellness, and the purity of the Red Sea. State-of-the-art facilities and an attractive year-long events calendar will ensure Amaala is a distinctive wellness destination worldwide.

Phase One of Triple Bay is well underway and set to be complete in 2024. It will consist of eight resorts offering upwards of 1,200 hotel keys. Contracts awarded by AMAALA to date are worth just over SAR 7 billion (USD 1.9 billion).

Once complete, Amaala will be home to 3,900 hotel rooms across 29 hotels, and approximately 1,200 luxury residential villas, apartments, and estate homes, alongside high-end retail establishments, fine dining, wellness, and recreational facilities.

Sustainability is a cornerstone of Amaala, which will be powered by 100% renewable energy for which the resulting saving in CO2 emissions to the atmosphere is equivalent to nearly half a million tons each year. The destination will operate with a zero-carbon footprint once fully operational. A Public Investment Fund company and a key contributor to Vision 2030, Amaala will establish new standards in luxury and wellness.