$270m contract issued by Red Sea Global

Tourism development company Red Sea Global has awarded a contract worth nearly SR1 billion ($270 million) to Saudi-based Al-Ayuni Investment and Contracting Co. to develop utilities infrastructure systems at one of its resorts.

The work will be carried out in the first phase of development at Amaala, an ultra-luxury tourism destination located along the Kingdom’s north-western coast, within the Triple Bay masterplan.

Al-Ayuni will also work on minimizing Triple Bay’s carbon footprint as part of Amaala’s commitment towards net-zero operations. The company was selected based on its technical and commercial abilities, as well as its regional and global credentials.

The first phase of development at Amaala, focused on the Triple Bay masterplan, will include eight hotels and more than 1,200 hotel rooms. Upon full completion in 2027, the destination will feature 3,000 hotel rooms across 25 hotels, high-end retail establishments, fine dining, wellness, and recreational facilities.