Amaala says 300 contracts worth over SAR 6.62 bln signed to date

Logo of Amaala

Amaala, the ultra-luxury tourism destination, announced that it has signed more than 300 contracts worth over SAR 6.62 billion to date.

In a statement, Amaala stated that the Red Sea Development Co. (TRSDC) awarded more than 98% of the total contracts to Saudi firms, highlighting the organization’s commitment to strengthening the local economy.

The agreements include the design and build of state-of-the-art accommodation and facilities. Additional contracts worth SAR 6.1 billion are currently out to tender, across 54 proposals.

Eight hotels and more than 1,200 hotel keys are set for completion in 2024. The entrance for Triple Bay is under construction and expected to be completed by October 2022.

The project is expected to create 50,000 new direct, indirect, and induced jobs for Saudis, as well as contribute SAR 11 billion to the country’s GDP once fully operational.