Red Sea Global
Saudi developer owned by the Public Investment Fund that is building The Red Sea and AMAALA tourism destinations on the Kingdom's west coast. Known as The Red Sea Development Company until 2022.
Industry: Tourism and real estate development | Location: Tabuk, Saudi Arabia | Founded: 2018
About Red Sea Global
Red Sea Global is a Saudi developer owned by the Public Investment Fund (PIF) that builds and runs tourism destinations on the Kingdom's Red Sea coast. Wikipedia gives its headquarters as Tabuk. Its main projects are The Red Sea, set across an archipelago of 92 islands, and AMAALA.
The Red Sea project was announced in August 2017, with PIF providing the initial investment, and Wikipedia records that construction began in February 2019. The developer, then called The Red Sea Development Company, was renamed Red Sea Global at the Future Investment Initiative in Riyadh in October 2022, when it said its mandate could extend beyond Saudi Arabia. John Pagano has been group chief executive since 2018.
The Red Sea destination includes Shura Island, Southern Dunes and Laheq Island, a residential island unveiled in April 2025 and due to open in 2028. Red Sea International Airport received its first flight, from Riyadh, in September 2023, and Wikipedia records its first international flight, from Dubai, in April 2024.
The Red Sea welcomed its first guests in 2023 with five resorts. A press release reported by the Saudi Press Agency in January 2026 said nine luxury resorts were open there, including the first of 11 planned on Shura Island, which opened in 2025. Forbes Middle East reported that AMAALA had opened by July 2026. Red Sea Global has a SAR 2 billion joint venture with Kingdom Holding for a Four Seasons resort, and at LEAP 2026 stc's iot squared showed a digital twin system running across about 10 square kilometres of its destinations.
Beyond PIF's initial investment, no funding rounds are reported. Argaam reported in October 2022 that the company had awarded more than 1,300 contracts worth nearly SAR 32 billion.
Red Sea International Airport and Turtle Bay International School hold LEED Platinum, the Central Distribution Center holds LEED Gold, and the AMAALA Triple Bay and Staff Village masterplans hold LEED Platinum for Communities. The company says The Red Sea and AMAALA run on 100% renewable energy. By 2030 The Red Sea is planned to have 50 resorts and 8,000 hotel rooms.
Leadership
- John Pagano, Group Chief Executive Officer
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