Amaala awards more than 230 contracts worth SAR 3.6 bln, 78% given to Saudi firms

Logo of Amaala

Amaala awarded more than 230 contracts worth SAR 3.6 billion to local and international companies, the company announced on its official Twitter account.

Over 78% of such contracts have been awarded to Saudi companies, as part of its commitment to Vision 2030 and contribution to the Saudi economy.

According to data compiled by Argaam, The Red Sea Development Co. (TRSDC) will acquire Amaala, both owned by the Public Investment Fund (PIF), said John Pagano, CEO of TRSDC and Amaala.

In September 2018, the PIF unveiled Amaala, an uber-luxury destination on the North-Western coast of Saudi Arabia. The project is expected to be complete in 2028.

As part of our commitment to #SaudiVision2030 and contribution to the Saudi economy, #AMAALA has awarded more than 230 contracts worth over SAR 3.6 billion ($960M) to local and international companies. Over 78% of this value has been awarded to Saudi companies. pic.twitter.com/beOp7P7UZV

— AMAALA (@AMAALA) September 21, 2021