World’s largest eco-tourism project, The Red Sea Development Co., to takeover its neighbor: CEO
Published 21 Sep,2021 via Arab News - Economy - Saudi Arabia’s Public Investment Fund is combining two giga project developers on the Red Sea coast to “leverage synergies” as the Kingdom goes ahead with ambitious tourism goals.
The consolidation deal will see The Red Sea Development Co. (TRSDC) taking over Amaala, both owned by the PIF, but the tourist destinations they are developing will retain “separate, distinct” identities, Chief Executive Officer John Pagano told Arab News.
“Amaala has its own unique positioning and branding, which is not going to change, as well as the Red Sea project,” he said on the sidelines of the Arabian and African Hospitality Investment conference in Dubai
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