Saudi Arabia’s Red Sea Global (RSG) and Kingdom Holding Company (KHC) have finalised a half-billion USD joint venture to construct and operate a new Four Seasons Resort on Shura Island.
With a slated opening date projected for early 2025, Shura Island is envisaged to be a premier destination with 11 resorts, residential properties, an 18-hole golf course, a marina, and an array of retail and dining experiences, contributing to the transformation of the Kingdom’s tourism industry.
“This partnership strengthens our unwavering commitment to transforming the tourism landscape in Saudi Arabia. We share a common vision of creating extraordinary destinations that not only drive economic growth and job creation, but also preserve precious ecosystems, aligning perfectly with the aspirations outlined in Vision 2030,” said John Pagano, Group CEO of RSG.
The new joint venture will be a balanced collaboration with RSG and KHC each owning a 50% stake. The Four Seasons Resort, nestled on Shura Island — a key location within The Red Sea project — will feature 149 rooms and suites, 31 residential spaces, a variety of dining venues, spaces for meetings and events, a marine discovery centre, and a kids’ area.
Kingdom Holding Company’s CEO, Eng. Talal Ibrahim Almaiman, regards the venture as a strategic addition to the company’s investment portfolio, focusing on the promising growth opportunities within Saudi Arabia.
Sarmad Zok, CEO at Kingdom Hotel Investments (UK) ltd, a subsidiary of KHC, says the Four Seasons resort and residential project will set an exemplary milestone in terms of sustainable tourism along Saudi Arabia’s Red Sea ecosystem: “The RSG team has a tremendous execution track record, and we are particularly drawn to the fact that our partners have embedded ESG to the core of their development vision. We are proud to contribute to its realisation.“
“As we continue to expand Four Seasons presence in the region, our new project in the Red Sea will be one of our first resorts in the Kingdom, blending the best of beachside travel with the natural and cultural wonders of Saudi Arabia,” says Bart Carnahan, President, Global Business Development and Portfolio Management for the hotel group. “We are incredibly proud to be part of this impressive and visionary development by RSG and look forward to inviting guests to explore our new Resort within such a beautiful and storied destination.”
The new Four Seasons Resort, designed by Foster + Partners, will offer approximately 149 rooms and suites, all with uninterrupted views over white sand beaches and crystal clear waters. The property will also feature six restaurant and lounge outlets, meeting and events spaces, and a marine discovery centre, not forgetting a Kids For All Seasons space. The resort will, of course, offer a full-service spa with a hammam, tennis courts, three outdoor pools with cabanas, and two separate beaches for families and adults perfect for soaking in the sun or diving down to explore the coral reefs.
The Red Sea destination is being built with sustainable practices and tourism at its core, with the masterplan being informed by an impressive marine spatial planning simulation to model the environmental impact of development and operations to minimize over-tourism while providing guests with an exceptional travel and lifestyle experience. The destination will also rely on renewable energy and will only develop a small portion of the islands with expansive dedicated conservation zones.
The Red Sea project, already welcoming guests at its two operational hotels and serviced by the Red Sea International Airport, aims to complete 50 resorts with 8,000 hotel rooms and over 1,000 residential properties by 2030.
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Read also: AN ISLAND RESORT BY FOUR SEASONS
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Article by Gerard Lefebvre
