Red Sea Global's First Joint Venture Resort

Four Seasons Resort and Residences Red Sea at Shura Island will open to guests from 20th May, announced Red Sea Global (RSG). This resort is the first joint venture-developed property in RSG’s portfolio.

Developed in partnership with Kingdom Holding Company (KHC), the resort marks a significant milestone for both organisations. Partnerships are increasingly crucial in expanding Saudi Arabia’s luxury tourism sector. The project aligns with Saudi Vision 2030, aiming to enhance tourism and hospitality offerings.

John Pagano, Group CEO at Red Sea Global, commented, “With Four Seasons preparing to welcome guests, we are significantly scaling the capacity and offering of The Red Sea destination.” The resort will significantly boost the region’s tourism capacity, especially during peak travel periods.

Resort Features and Sustainability

Costing SAR 2.6 billion, the resort includes 149 accommodations and 31 resort residences. Dining options feature Sea Green, Al Forn, and Spiaggia Restaurant and Pool. Guests can also participate in various water sports and children’s programs.

Renewable energy powers the resort, and it uses advanced water and waste management systems. These align with RSG’s regenerative tourism principles, which aim to minimise environmental impact. The resort is surrounded by crystal-clear waters on three sides, providing stunning views and a serene environment.

Sarmad Zok, CEO at Kingdom Hotel Investments, stated, “Kingdom Holding Company’s investment in Four Seasons Resort and Residences Red Sea at Shura Island reflects our continued commitment to hospitality and tourism assets in alignment with Saudi Vision 2030.”

Currently, the Red Sea hosts 11 hotels, with six more resorts set to open on Shura Island soon. The area experienced high occupancy rates during Ramadan and expects increased demand around Eid Al-Adha.

Red Sea International Airport will support this demand with 32 additional flights during the holiday season, showcasing the potential of Saudi Arabia’s luxury tourism market and attracting international attention.

Greg Djerejian, Group Head of Investments at Red Sea Global, emphasised the successful delivery of the resort as a strong market signal about the quality of opportunities within RSG’s portfolio. The resort’s launch demonstrates the strength of the destination proposition and the growing international appeal of Saudi Arabia’s luxury tourism market.

The project received SAR 2 billion ($522 million) in debt financing from Riyad Bank, highlighting market confidence in the venture’s success.