Red Sea Development Company Saudi Arabia

He oversees finance investment and asset management for a new international luxury tourism destination set along the red sea as part of the kingdom s vision 2030.

Red sea development company saudi arabia. The saudi ministry of commerce and investment registered the red sea development company rsdc as a closed joint stock company wholly owned by the public investment fund pif in a new milestone in tourism. Red sea project is a land and property development announced by the saudi crown prince mohammad bin salman in july 2017. The project is being developed by the red sea development company which is a 100 percent closed joint stock company owned by the public investment fund pif saudi arabia s sovereign wealth fund. The red sea project was launched by saudi crown prince mohammed bin salman pif deputy chairman of board of directors in july 2017.

The project is focused on tourism hoping to attract tourists to visit and explore the saudi western coast. It is planned to be established on the saudi arabian red sea coast. The red sea development company offers individuals and service providers the opportunity to work in one of the fastest growing tourism markets in the world. The destination will operate as a special economic zone with its own laws and regulatory framework specially created to encourage investment opportunities and commercial activities.