Crystal Lagoons inks mega deal to enter lucrative Saudi PAL market

Crystal Lagoons inks mega deal to enter lucrative Saudi PAL market

US-based Crystal Lagoons said it has reached an agreement with A'amal Group, a major holding company with interests in the hospitality, real estate and energy development sectors, to enter the Saudi market in a big way.

As per the deal, the duo will develop real estate, hospitality and public access lagoons (PAL) projects across Saudi Arabia.

The scope of work includes setting up luxury complexes in coastal and inland cities such as Riyadh, as well as Jeddah, Dammam, Madinah and Khobar in the Eastern Region.

With this new tieup, Crystal Lagoons, a multinational innovation company, founded by scientist Fernando Fischmann, is consolidating its presence in the Middle East, where it already has ongoing projects in the UAE, Egypt, Israel, Palestine and Oman.

In fact, the world's two largest crystalline lagoons are located in the Middle East: District One in Dubai (30 hectares) and Citystars Sharm El Sheikh in Egypt (12.8 hectares).

"I am very pleased to announce this strategic alliance between A'amal Group and Crystal Lagoons, and the potential that it holds for Saudi Arabia," remarked Yassin Al Suroor, President & CEO of A'amal Group.

"We believe that this partnership follows our vision for the future, and are confident that working in synergy will lead to