Saudi’s TRSDC awards more than 500 contracts worth $2bn to-date
These contracts were awarded to design, build, and operate the accommodation and facilities at The Red Sea Project
Saudi Arabia 28,000km2 luxury tourism destination The Red Sea Project, developed by The Red Sea Development Company (TRSDC) has marked a milestone as it awarded more than 500 contracts worth $2bn (SAR7.5bn) to local and international firms to-date at the gigaproject backed by the Kingdom’s Public Investment Fund (PIF).
Located along the Red Sea coast, TRSDC awarded the contracts to design, build, and operate the accommodation and facilities at the destination, which is set to open at the end of 2022.
Commenting on the contract awards, John Pagano, CEO of TRSDC, said: “This significant landmark underscores the scale of our project and the remarkable progress made to create the destination of the future.
“TRSDC is a contributing factor to the growth of the Saudi Arabian economy and is playing a pivotal role in its Vision 2030 plan.”
Construction work on the gigaproject’s transport links is well underway and includes developing 80km of roads, highways, and junctions to connect the destination, and the new international airport.
The Netherlands- and Greece-headquartered Archirodon has been constructing a crossing that will link Shurayrah Island — the destination’s main hub — to the mainland and is constructing a number of jetties.
Meanwhile, Saudi Amana Contracting has delivered the first prefabricated units, which were built in a newly established facility in Saudi Arabia. These units will form a part of the Coastal Village development, which will be home to 14,000 staff who will operate the destination following completion.
The development of the Construction Village, which will be home to 10,000 construction workers, is nearing completion with all 1,876 cabins being built off-site, delivered, and assembled.
Furthermore, the on-site landscape nursery, which spans over one million square meters, is fully operational and set to home more than 15 million plants.
In July this year, Nesma & Partners Contracting Co. Ltd and Almabani General Contractors were picked for airside infrastructure works for the destination’s international airport, set to open in 2022. The contract was TRSDC’s largest award to-date.
TRSDC has also partnered with universities and ministries, as well as leading scientific and academic institutions.
The developer in worked with King Abdullah University for Science and Technology (KAUST) on a Marine Spatial Planning (MSP) programme to map out land and coral reef conservation areas at the site. This exercise informed the Concept Master Plan, which predicts a 30% net conservation benefit by 2040, setting new standards in regenerative sustainability.
“Sustainable approach is not enough”
TRSDC is working to establish the largest marine protected area in the Middle East, which will be just under 5,400km2; while it also plans to implement several innovative methods to reduce carbon emissions, including increasing the size of mangrove habitats across the destination, direct air capture, and establishing marine algae farms.
TRSDC has been using eco-friendly, sustainable ‘green’ concrete on-site in order to minimise emissions throughout the construction process, in addition to manufacturing off-site.
Pagano added: “All of our world-class partners are carefully selected and are truly aligned to our sustainability and business principles. One of the things that makes The Red Sea Development Company so special is our unwavering commitment to regenerative sustainability.
“Taking just a sustainable approach isn’t enough. We want to enhance the destination for generations to come.”
More contract awards
TRSDC will award more contract by the end of 2020, including for the airport terminal, an airport operator, and a major public-private partnership (PPP) utilities package that will secure 100% renewable energy generation; in addition to water desalination, waste treatment, and district cooling.
Together, these contracts will be valued at an aggregate to a total of $4bn (SAR15bn).
The Red Sea Project is set to welcome its first guests by the end of 2022, when the international airport and the first four hotels will open.
Within Phase 1, 12 more hotels are scheduled for completion that will open in 2023. These developments will together deliver a total of 3,000 rooms across five islands and two inland resorts.
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