The Red Sea Development Company

The Red Sea Development Company (TRSDC) has been incorporated as a closed joint stock company, wholly owned by Saudi Arabias Public Investment Fund (PIF). The company has been established to develop and promote a new international luxury tourism destination that will set new standards for sustainable development and bring about the next-generation of luxury travel. The project was announced in July 2017 and is one of the three Giga Projects aimed at diversifying the Saudi economy in keeping with the Kingdoms 2030 Vision. The development will offer unprecedented investment options and provide visitors with the opportunity to explore the five untouched treasures of the west coast of Saudi Arabia; the archipelago of over 90 islands with stunning coral reefs, dormant volcanoes and untouched nature reserves. The new destination, which covers an area of 28,000 square kilometers, is located between the cities of Umluj and Al Wajh, at the crossroads of Europe, Asia, the Middle East and ...