Amaala

Amaala is a land and property megaproject currently in development in Saudi Arabia that is managed by Red Sea Global[lower-alpha 1] and forms part of the Saudi Vision 2030 program.[1] Its name is derived from the Arabic word for "hope", and focuses on luxury tourism to attract visitors to the Red Sea coast. The project consists of three main developments: The Coastal Development, Amaala Island, and Triple Bay.[2]

Amaala
Type of projectTourism
LocationNorthwestern coast of the Red Sea
OwnerPublic Investment Fund
Established2018
Websitehttp://www.amaala.com

The project is under the patronage of Prince Mohammed bin Salman. The Public Investment Fund (PIF) Development Management Organisation was established with Nicholas Naples, CEO.[3] Amaala, along with the other Red Sea projects, is expected to provide jobs to 35,000 individuals.[4] and planned to span over 3,800 km2.[5]

On 25 October 2022, it was announced that AMAALA and The Red Sea Development Co. (TRSDC) has been merged to form Red Sea Global (RSG).[6]

Phases

The first phase of the project is planned to be completed by the fourth quarter of 2020. The project is to be wholly accomplished by 2028.[5]

Facilities
  • 2,500 hotel rooms
  • 200 retail shops, art exhibitions and marinas
  • 700 villas[5]
  • A state-of-the-art Marine Life Institute

Notes and references

Notes

  1. Previously known as The Red Sea Development Company (TRSDC) until 2022.

References

  1. "Saudi Vision 2030". vision2030.gov.sa. Retrieved 2020-05-17.
  2. "Saudi Arabia Unveils Plans To Create Massive Red Sea Wellness Destinations". Forbes. 2018-12-26. Retrieved 2019-06-10.
  3. "PIF - Public Investment Fund". www.pif.gov.sa. Retrieved 2020-05-17.
  4. "Amaala, Red Sea projects to 'generate 57,000 jobs'". Saudigazette. 2019-02-16. Retrieved 2019-05-31.
  5. "AMAALA". www.thebig5saudi.com. Retrieved 2019-06-18.
  6. "Saudi Arabia's Red Sea Project, AMAALA merge to form Red Sea Global". Arabian Business. 25 October 2022. Retrieved 25 October 2022.


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