RIYADH: Red Sea Global, the megaproject developer, announced on Thursday a new partnership that will bring expertise from Monaco to establish the Kingdom as a major yachting destination.
The new partnership with Monaco Marina Management, or M3, will help Red Sea Global’s Amaala Yacht Club meet the criteria and standards to obtain the La Belle Classe Destinations certification.
Jose Marco Casellini, CEO of M3, said: “Red Sea Global’s vision for regenerative tourism closely mirrors our mission to promote sustainable yachting. We’re excited to help bring these ambitions to life and work together to put the Amaala Yacht Club and Saudi Arabia on the global yachting destination.”
The La Belle Classe Destinations certificate is owned and operated by the Yacht Club de Monaco and is awarded to yachting destinations demonstrating a deep understanding of maritime ethics, etiquette, and environmental protection.
The agreement with M3 also includes creating a sailing academy, supporting training and recruitment, and providing seasonal, reciprocal opportunities for members, cadets and youth.
“What excites me most about this partnership is the opportunity for training and knowledge transfer,” said John Pagano, group CEO of Red Sea Global. “Empowering Saudi nationals has always been at the center of our regenerative approach, and with our marina employees receiving best-in-class training both in Monaco and at Amaala, we are confident that we are fulfilling our promise to create destinations by the people and for the people of Saudi Arabia.”
Phase One of Amaala, to be open in 2025, consists of eight resorts offering 1,200 hotels. Once complete, Amaala will be home to more than 3,900 hotel rooms across 29 hotels and approximately 1,200 luxury residential villas, apartments, and estate homes, supporting high-end retail, fine dining, wellness, equestrian and recreational facilities.