TRSDC signs 600 contracts worth SAR 17 bln with local, global firms till date

Logo of The Red Sea Development Company

The Red Sea Development Company (TRSDC) signed more than 600 contracts worth SAR 17 billion with local and international companies till date, it said on its official Twitter account.

Saudi companies received 70% of the total value of the contracts awarded, which confirms TRSDC’s commitment to supporting the local economy.

According to data compiled by Argaam, the Red Sea project, when completed in 2030, will consist of 50 resorts and hotels, providing up to 8,000 hotel rooms and about 1,300 residential properties, spread over 22 islands and six internal sites.

The destination will also include luxury marinas, golf courses, recreation facilities, and many more.

To date we've awarded more than 600 contracts worth $4.5 billion to international and local companies. Over 70% of this value has been awarded to #Saudi firms, highlighting our commitment to the KSA economy as part of #SaudiVision2030.#LeadingTheWay pic.twitter.com/ohZOxOPCCS

— The Red Sea Development Company (@TheRedSeaGlobal) August 23, 2021