Phase I of Red Sea Project 50% complete: Official

Khaled Abdellatif, Senior Urban Planning Director at the Red Sea Global Co.

Khaled Abdellatif, Senior Director (Urban Planning) at Red Sea Global, announced that Phase I of the Red Sea Project is 50% complete.

The company is planning to open three hotels in 2023, while the first phase will be 100% complete in 2024, Abdellatif added on the sidelines of the Real Estate Future Forum.

Abdellatif also indicated that the project spending reached SAR 1 billion per month of the total contracts in the region, adding that the company aims to link the Red Sea to the Kingdom’s tourism map.

Upon completion in 2030, The Red Sea Project 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 will also include an international airport, luxury marinas, golf courses, entertainment, and leisure facilities, Argaam reported.