Saudi crown prince launches mega Red Sea tourism project

1 / 4
Red Sea Tourisms Project. (SPA)
2 / 4
Red Sea Tourisms Project. (SPA)
3 / 4
Red Sea Tourisms Project. (SPA)
4 / 4
Red Sea Tourisms Project. (SPA)
Updated 02 August 2017
0

Saudi crown prince launches mega Red Sea tourism project

JEDDAH: Crown Prince Mohammed bin Salman, chairman of the Public Investment Fund (PIF), on Tuesday announced the launch of an international tourism project in the Kingdom called The Red Sea.
Envisioned as a resort built across a lagoon of 50 untouched islands, The Red Sea will be situated in one of the world’s last natural hidden treasures, between the cities of Umlaj and Al-Wajh. It will be developed in partnership with the world’s leading hospitality firms.
Situated just a few kilometers from one of the most diverse Saudi nature reserves and captivating dormant volcanoes in Harrat Al-Rahat, the resort promises to be a blissful coastal island retreat set against a backdrop of the ancient ruins at Mada’in Saleh, renowned for its beauty and historical significance.
Visitors will be able to explore hidden treasures, including a nature reserve that boasts a stunning diversity of flora and fauna at the foothills of the dormant volcano nearby. 
An array of marine-oriented resort developments will allow for unparalleled scuba diving among stunning coral reefs. The project will form an archipelago that is home to environmentally protected coral reefs, mangroves and several endangered marine species, including the hawksbill sea turtle. 
It will also boast dormant volcanoes, the most recently active of which has a recorded history of activity dating back to the 17th century AD. 
The project’s nature reserve is inhabited by rare wildlife including leopards, wolves, wildcats and falcons. Also on offer will be parachuting, trekking and rock climbing.
With tourism representing the second most important sector in the Kingdom, The Red Sea will spearhead the diversification of the Saudi leisure industry.


In line with Vision 2030, it will diversify Saudi tourism offerings to create a year-round hospitality sector while promoting cultural conservation and economic stimulation. 
The Red Sea will serve as a wellness center while setting new standards for sustainable development and environmental protection, which will be central to the project’s development. 
To ensure the highest standard of environmental conservation, the number of visitors annually will be capped and heritage sites will be restored.
Laws on par with international standards will govern the newly mapped semi-autonomous area, with initial groundbreaking expected in the third quarter of 2019. 
Completion of the project’s first phase is anticipated by the last quarter of 2022, which will include development of hotels, luxury residential units and all logistical infrastructure such as air, land and sea transport hubs.
The project will be developed with seed capital from the PIF, while partnerships with top-tier international companies will be formed. 
This will attract the world’s leading names in hotel and tourism operations while contributing to Saudi economic growth. The project aims to generate SR15 billion ($4 billion) annually to the Saudi economy and create 35,000 jobs.


Saudi Arabia, UAE to attend US-led Palestine investment meeting

Updated 23 May 2019
0

Saudi Arabia, UAE to attend US-led Palestine investment meeting

  • The Palestine Liberation Organization and Islamist group Hamas have called for an Arab boycott of the meeting
  • Saudi Arabia has assured Arab allies that it will not endorse any US plan that fails to meet key Palestinian demands

JEDDAH: Saudi Arabia and the UAE will participate in a conference next month in Bahrain aimed at encouraging investment in the West Bank and Gaza Strip, as part of US President Donald Trump’s long–awaited Israel–Palestine peace plan. 

The Peace to Prosperity conference, to be hosted on June 25–26 in cooperation with the US, has already been rebuffed by Palestinian officials and business leaders, who want their political demands met by any proposed solution to the conflict.

The Palestine Liberation Organization and Islamist group Hamas have called for an Arab boycott of the meeting.

The Saudi minister of economy and planning, Mohammed bin Majid Al–Tuwaijri, will attend, the Saudi Press Agency reported on Wednesday.

The UAE Ministry of Foreign Affairs and International Cooperation said Abu Dhabi would also send a delegation.

The Palestinian Authority has boycotted American peace efforts since late 2017, when Trump decided to move the US Embassy from Tel Aviv to Jerusalem and recognized the latter as the capital of Israel, reversing decades of US policy.

The Trump administration has sought to enlist support from Arab governments.

But Saudi Arabia has assured Arab allies that it will not endorse any US plan that fails to meet key Palestinian demands, which include affirming East Jerusalem as the capital of a Palestinian state, the right of return for refugees, and a freeze on Israeli settlement construction.