Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala, has announced the successful completion of an investment deal with Kingdom Holding Company (KHC), a prominent global investment company headquartered in Saudi Arabia.

The SAR 2bn Joint Venture (JV) brings together RSG and KHC in a 50/50 partnership to develop and own the Four Seasons Resort Red Sea, Saudi Arabia, expected to open in early 2025. The highly anticipated luxury resort is situated on Shura Island, the main hub island at The Red Sea destination. It will offer 149 rooms and suites, plus 31 residential properties, as well as six restaurants and lounge outlets, meeting and events spaces, a marine discovery center, and a Kids For All Seasons space.

Shura Island will be home to 11 resorts in total, and will include residential properties, an 18hole championship golf course, a 118-berth marina, and an exceptional retail, dining, and entertainment experience.

The collaboration between RSG and KHC comes at a time when tourism in the Kingdom is experiencing remarkable growth. Tourism’s share of GDP has already shot from a modest 3% to an impressive 7% since the launch of Vision 2030. The original target of hosting an astounding 100 million visitors a year by 2030 has been increased to 150 million because of the remarkable progress already made by developers such as RSG.

Earlier this month The Red Sea welcomed its first guests. Two of its hotels are open for bookings and the Red Sea International Airport is receiving a regular schedule of flights. Upon full completion in 2030, the destination will comprise 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The destination also includes luxury marinas, golf courses, entertainment, F&B, and leisure facilities.