Red Sea project draws strong investor interest: Official

Outreach from the investment community for the Red Sea Project, the first fully integrated luxury mixed-use destination in the Middle East, is overwhelming, said Jay Rosen, Head of Investments at The Red Sea Development Company (TRSDC).

Rosen spoke to Saudi Press Agency (SPA) at the 2019 Saudi Hotel Investment Conference.

“The project’s offerings will emphasize ‘being’ over ‘owning’ in a pristine environment. It’s a very compelling combination and one that is attracting a lot of investor interest,” he said.

Rosen assessed that the hospitality segment would be the anchor of the project, and that when complete, the destination will offer 8,000 hotel rooms.

“We are creating a diverse array of offerings and experiences, from mono-island luxury resorts to design-driven beachfront resorts, holistic wellness retreats and innovative, unique inland experiences in the mountains and desert dunes,” he said.

“There is currently no competing destination in the world, so we are able to offer, for the first time, a compelling reason for international tourists to visit the Middle East and experience the richness of the culture and the famously warm hospitality of the Saudi people,” he added.