Inside the Red Sea Project
The overarching aim of the Red Sea Project is to focus on developing a luxury and ecotourism destination that will attract record numbers of visitors and residents to the beautiful Red Sea coast. Currently the project sits around the $8 billion mark and is situated in the Tabuk province between the cities of Umluj and Al-Wajh. Once completed the Red Sea Project will span 28,000 km² of islands, desert, mountains, volcanic areas and beaches. It will include 14 luxury and ultra-luxury hotels with over 3,000 rooms, a marina, various recreation centres, an airport, five-star residential buildings, state of the art leisure and entertainment venues and internationally renowned VIP branded residences. Over 1 million people per year are expected to visit this illustrious destination, not to mention the scores of new residents, retail outlets, international brands and foreign investors it will attract.
Sensational Sustainability
One of the ways in which the Red Sea Project is also an appealing investment opportunity and a major real estate development project that stands out from the crowd is in its sustainability goals. The Red Sea Project has been designed to become one of the world’s most successful, sustainable
tourist resorts with a ‘zero waste-to-landfill-policy, no discharges to the sea, 100 per cent carbon neutrality and a ban on single-use plastics’. As the project works to balance its water usage, the power will be supplied by 210 MW of solar and wind energy, further demonstrating that Saudi Arabia real estate projects like this one are making influential strides in the fields of renewable energy to help protect the planet. Finally by honouring the natural eco-system in which it is located, the project is also determined to protect and value its surrounding habitat, as well as utilising its stunning vista for the benefit of its guests, visitors and residents.
The Red Sea Project is another reflection of Saudi Arabia’s growing status as a top global destination for economic investment, cultural innovation and luxury living. If you would like to find out more about the Red Sea Project and real estate investment opportunities, get in touch with one of our consultants at Saudi Arabia Sotheby’s International Realty today.