World’s largest eco-tourism project, Saudi’s TRDSC, to takeover Amaala: CEO
- Date: 22-Sep-2021
- Source: Zawya
- Sector:Tourism
- Country:Saudi Arabia
World’s largest eco-tourism project, Saudi’s TRDSC, to takeover Amaala: CEO
DUBAI: Saudi Arabia’s Public Investment Fund is combining two giga project developers on the Red Sea coast to “leverage synergies” as the Kingdom goes ahead with ambitious tourism goals.
The consolidation deal will see The Red Sea Development Co. (TRSDC) taking over Amaala, both owned by the PIF, but the tourist destinations they are developing will retain “separate, distinct” identities, Chief Executive Officer John Pagano told Arab News.
“Amaala has its own unique positioning and branding, which is not going to change, as well as the Red Sea project,” he said on the sidelines of the Arabian and African Hospitality Investment conference in Dubai
Pagano added: “Amaala is focused on wellness, while the Red Sea project is very much focused on eco-tourism – that is not going to change.”
It follows a move that saw Pagano being appointed as the CEO of Amaala in January this year.
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