Red Sea Global secures $522m for Four Seasons Resort

Red Sea Global secures $522m for Four Seasons Resort

Saudi giga-projects developer Red Sea Global (RSG) has secured SAR2 billion ($522 million) from Riyad Bank for its latest tourism project in the Red Sea development. The financing will be used to develop Four Seasons Resort, developed as part of a joint venture between RSG and Kingdom Holding Company, which was incorporated in December 2023. […]Saudi giga-projects developer Red Sea Global (RSG) has secured SAR2 billion ($522 million) from Riyad Bank for its latest tourism project in the Red Sea development.

The financing will be used to develop Four Seasons Resort, developed as part of a joint venture between RSG and Kingdom Holding Company, which was incorporated in December 2023.

The Four Seasons Resort on Shura Island will have 159 guest rooms and is expected to open in early 2025.

The Shura Island is part of the first phase of development, which will include 11 luxury hotels and resorts, residential units, a championship golf course, a 118-berth marina, and a retail, dining, and entertainment complex.

The island is on track to receive guests next year.

RSG opened its first two hotels last year, with Desert Rock and Shebara set to open in 2024.

Upon full completion in 2030, the tourism destination will have 50