Red Sea International awards a contract worth $266 million in Saudi Arabia

Red Sea International awards a contract worth $266 million in Saudi Arabia
Red Sea International awards a contract worth $266 million in Saudi Arabia
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Red Sea International awards a contract worth $266 million in Saudi Arabia

Implementation of infrastructure and public utilities works for the first phase of the “Triple Bay” project


Tuesday – 2 Rajab 1444 AH – January 24, 2023 AD Issue No [
16128]

The “Double Tree” project of the “Red Sea International” company (Middle East)

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aawsatLogo.jpg

Jeddah: «Asharq Al-Awsat»

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The Saudi “Red Sea International” announced the award of a contract of about one billion riyals ($ 266 million) to the “Al-Ayuni Investment and Contracting” company to carry out infrastructure works and public utilities for the first phase of the master plan of the “Triple Bay” project.
According to what was stated by the “Red Sea International” company, which is developing the “Red Sea” and “Amaala” destinations in the Kingdom, “Al-Ayuni Investment and Contracting”, which is one of the first-class contracting companies in Saudi Arabia, will be responsible for providing the latest infrastructure systems. for the basic facilities, while ensuring that the carbon footprint of the “Triple Bay” project is reduced, as part of AMAALA’s commitment to reaching a completely “carbon neutral” operating stage.
John Pagano, CEO of Red Sea International, said: “The award of the infrastructure contract comes within the framework of the ambitious strategy of (Red Sea International) aimed at pioneering and innovating in the field of luxury tourism and preserving the natural environment. The size of the development of mega projects and our relentless pursuit to establish the standards of renewable tourism requires the conclusion of meaningful quality partnerships that can provide flexible infrastructure. There is no doubt that in cooperation with (Al-Ayuni Investment and Contracting) Company, we are confident that together we can shape the future of real estate development inside and outside the Kingdom.
According to the information released yesterday, the selection of “Al-Ayuni Investment and Contracting” came based on its long-standing experience and comprehensive technical and commercial competencies, as well as its regional and global qualifications that meet all design and construction methods followed with the strict “Red Sea International” standards for comprehensive sustainable development. Including economic, financial, social and institutional factors. For his part, Fahd Al-Ayuni, Chairman of the Board of Directors of Al-Ayyouni Investment and Contracting Company, said: “(Red Sea International) is one of the real estate development companies that enjoys an ambitious future vision, which is closely aligned with our long-standing heritage of creating world-class solutions and setting standards New. We are pleased to contribute to the development of its leading tourist destinations, and we look forward to highlighting all of our expertise and strong capabilities to achieve the ambitious sustainable goals of (Red Sea International).”
The Red Sea International Company confirmed that preparations for the first phase of the “Amaala” destination in the “Triple Bay” marina are in full swing, and will consist of 8 resorts offering more than 1,200 hotel rooms.
If completed, the destination will include more than 3,000 hotel rooms in 25 hotels, as well as a range of high-end retail stores, restaurants, leisure centers and recreational facilities.

Saudi Arabia

Saudi economy

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