The Red Sea Development

The Red Sea Development is a closed joint-stock company wholly owned by Saudi Arabia's Public Investment Fund (PIF), established in 2018. It operates within the Real Estate industry, focusing on developing a luxury tourism destination. The company's core mission involves creating a sustainable and high-end travel experience, with products and services encompassing environmental initiatives, project development, and hospitality. Its strategic objective is to drive significant economic diversification and growth for the region through large-scale tourism infrastructure. The company has secured substantial funding, including significant debt financing rounds from major Saudi banks, underscoring investor confidence in its ambitious project.

With a workforce of 500-1,000 employees, The Red Sea Development manages operations across 2 locations. This scale of human capital is dedicated to executing the complex vision of the Red Sea Project. The team's expertise spans various critical functions necessary for developing a world-class destination, from engineering and construction to hospitality management and environmental stewardship. Meet The Red Sea Development's team to understand the leadership and operational backbone driving this initiative.

Financially, the company reported a revenue of $191.5M. Its development is supported by significant financial backing, including debt facilities totaling billions of dollars from institutions like Riyad Bank, Banque Saudi Fransi, The Saudi British Bank, and Saudi National Bank. This financial strategy enables the large-scale investment required for its ambitious tourism and real estate ventures. Explore financial highlights for a detailed breakdown of its funding and revenue metrics.