Saudi’s Red Sea Development Company (TRSDC), the developer behind tourism destination Amaala, has announced tangible progress across the development, with over 300 contracts signed to date, worth more than 6.62 billion riyals ($1.7 billion).
More than 98 percent of the total contract value has been awarded to Saudi firms, said John Pagano, Group CEO of TRSDC.
These include agreements for the design and build of state-of-the-art accommodation and facilities at the destination for future employees, he added, noting that an additional 6.1 billion riyals of contracts are currently out to tender, across 54 proposals.
The first phase of Amaala is focused on the Triple Bay master plan, where eight hotels and upwards of 1,200 hotel keys are set for completion in 2024. This includes the successful completion of 11 km of roads ahead of schedule to better connect the site. The entrance for Triple Bay is under construction and is expected to be completed by October 2022.
The project is expected to create upwards of 50,000 new direct, indirect, and induced jobs for Saudis, as well as contribute upwards of 11 billion riyals to the country’s GDP once fully operational.
