TRSDC rebrands to Red Sea Global

Logo of Red Sea Global 

The Red Sea Development Co. (TRSDC), the developer behind The Red Sea and AMAALA projects, announced an expansion plan to transform into Red Sea Global (RSG).

CEO John Pagano said this turns a new chapter for RSG to become a leading global developer that can lead a new future for responsible real estate development.

In a company statement, RSG said the development of both destinations is proceeding as scheduled. The Red Sea destination is expected to welcome its first visitors in early 2023, and RSG’s mandate has expanded to oversee more than 10 projects stretching the length of the Red Sea coast of Saudi Arabia, with the potential to expand beyond the Kingdom in the future.

RSG has a growing portfolio of projects along the Red Sea coast of Saudi Arabia, with more than five additional projects already under feasibility studies. Some entered the masterplan competition phase, and others in which construction has already started.

Expansion in the RSG’s portfolio includes the launch of affiliates that aims to push development in the Saudi tourism sector, and the related industries.

The brands owned by RSG will help maintain the strict sustainability standards adopted during the development and operation phases.

The expanded mandate also includes the establishment of a series of subsidiary businesses to drive an uplift in the Saudi tourism sector and associated industries.

Such RSG-owned businesses allow the organization to maintain its stringent sustainability standards in development and operational phases.

The RSG’s new logo concept and brand, inspired by the Red Sea, home of the organization’s flagship projects, and the global aspirations of the company to have a positive impact on development worldwide.

The company added that the existing two giga projects under delivery are projected to contribute some SAR 33 billion annually to the Kingdom’s economy upon full operation.

Further, more than 1,300 contracts worth nearly SAR 32 billion ($8.5 billion) have been awarded by RSG, with some 70% of the total value awarded to Saudi companies reflective of the organizations ambition to positively impact the local economy.