Riyadh – Mubasher: The Red Sea Development Company has inked 600 contracts with local and international companies at a total value of SAR 17 billion.
The Saudi firms acquired 70% of the overall value of the contracts, Red Sea Development announced on its Twitter account.
The Red Sea project is expected to welcome its guests by the end of 2022, while the 16 hotels of the development’s first phase are scheduled for opening by the end of 2023.
The project will eventually include 50 hotels that provide up to 8,000 keys, in addition to more than 1,000 residential buildings.
