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Deals worth $2bn awarded to construct giant Red Sea tourism project

More than 500 contracts worth $2 billion have been awarded as part of ambitious plans to create a giant new tourism destination on the Red Sea coast of Saudi Arabia.

Companies from 24 countries are involved, indicative of the scale of the project and the international expertise required.

Work on transport links is underway and including 80km of roads, highways and junctions to connect the destination and a new international airport.

The project will be developed over 28,000km of Saudi Arabia’s west coast and includes a archipelago of more than 90 islands.

The Red Sea Development Company Project is on track to welcome its first guests by the end of 2022 when the airport and the first four hotels are due to open.

More contracts are to be awarded by the end of the year, including for the airport terminal, an airport operator and a major public-private partnership utilities package that will secure renewable energy generation, water desalination, waste treatment and cooling.

These deals will take aggregate commitments to almost $4 billion.

The remaining 12 hotels scheduled for completion in the first phase are set to open in 2023, delivering a total of 3,000 rooms across five islands and two inland resorts.

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