• Red Sea Global (RSG) secures a 2 billion riyals ($533 million) financing arrangement with Riyad Bank, strengthening its partnership with Kingdom Holding Company (KHC) for the development of the Four Seasons Resort at The Red Sea destination.
• The project, situated on Shura Island along Saudi Arabia’s west coast, will be overseen by the Four Seasons Hotels and Resorts Group, partly owned by KHC, marking a significant milestone in the region’s tourism sector.
• With key stakeholders like Saudi billionaire Prince Alwaleed Bin Talal and the Public Investment Fund (PIF) heavily invested in Kingdom Holding, this venture signals substantial commitment and investment in advancing Saudi Arabia’s tourism landscape.
Red Sea Global (RSG), the Saudi developer behind transformative tourism projects like The Red Sea and Amaala, has finalized a 2 billion riyals ($533 million) financing deal with Riyad Bank, according to media reports.
This financing bolsters RSG’s joint venture with Kingdom Holding Company (KHC) for the development of the Four Seasons Resort at The Red Sea destination, as agreed upon in October 2023.
Situated on Shura Island along Saudi Arabia’s west coast, the project will be managed by the Four Seasons Hotels and Resorts Group, partially owned by KHC.
With Saudi billionaire Prince Alwaleed Bin Talal holding a 78.13% stake in Kingdom Holding and the Public Investment Fund (PIF) possessing a 16.87% stake, the venture underscores significant investment and commitment to Saudi Arabia’s tourism sector.
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