The Red Sea Development Company

The Red Sea Development Company (TRSDC) has been incorporated as a closed joint stock company, wholly owned by Saudi Arabia’s 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 Kingdom’s 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 Africa. The area will be a semi-autonomous Special Economic Zone (SEZ) governed by independent laws and a regulatory framework on par with international standards. Focus will be placed on environmental sustainability, convenient visitor access, open social norms and improved business regulations, that will facilitate partnerships and investment opportunities with the world’s leading brands, companies and entrepreneurs. Our ambition is to set pioneering standards to every aspect of destination development and management to achieve our goals of environmental and tourism sustainability and become a truly global destination, welcoming visitors from around the world. As a company made up of over 500 people and 35 nationalities, we take great pride in the values we share. Respect, Responsibility, Collaboration and Passion are at the hearts of all employees of The Red Sea Development Company.