Public Investment Fund-backed Red Sea Global (RSG) is on track to award contracts with a total value of $6.6bn this year for the Red Sea project. Earlier this year, $8bn of procurement was planned for 2023 across the Red Sea project and Amaala. RSG has adopted a construction management approach to deliver its projects. Projects are broken down into individual trade works packages procured by RSG, rather than projects being awarded to a series of main contractors. There are typically about 20 to 33 works packages for each project. Both projects are located on the west coast of Saudi Arabia. The Red Sea project is predominantly an island development, while Amaala is mostly coastal. The Red Sea project covers an area of approximately 20,000 square kilometres and includes 22 islands and six inland locations. The project will be developed in phases, with phase one expected to complete in 2024. Phase one includes the delivery of 16 hotels and the international airport. This phase includes mirrored orbs that will form the hotel on Sheybarah Island. The overall completion of the master plan is scheduled for 2030. Once complete, it will have 50 hotels with 8,000 keys. Amaala covers an area of approximately 2,500 sq km and will be developed in phases, with phase one expected to complete in 2027. The development will include 27 hotels with 37,000 keys. Last year it confirmed that in addition to the Red Sea project and Amaala, it is working on more than a dozen projects in the kingdom and plans to develop projects overseas. The Six Senses Southern Dunes Hotel, the first property to open at the Red Sea development, recently underwent a soft opening. Two other properties are set to open before the end of 2023, including the Nujuma and Ritz Carlton nature reserve islands. (ICE RIYADH)

Fonte notizia: Meed