The Red Sea is preparing a new breed of Saudi hospitality professionals as its hotels to open early 2023

The company’s main task is to develop and promote a new international luxury tourism destination that will set high standards for sustainable development and bring about the next generation of luxury travel. (Supplied)
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Updated 27 May 2022
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The Red Sea is preparing a new breed of Saudi hospitality professionals as its hotels to open early 2023

  • The company is committed to becoming an employer of choice, says top official

RIYADH: A few years ago, it was a bit inconceivable to see tourists in large numbers swimming in Saudi Arabia’s Red Sea or marveling at the breath-taking natural habitats in the nearby islands.

Frankly, the Kingdom was never on the radar screen of potential European, American and Asian tourists as most of these visitors preferred to spend their vacations in more popular tourist destinations.

However, this is about to change.

The Saudi government, which is keen to diversify its economy and reduce its dependence on oil as the primary source of revenue, has embarked on an ambitious multi-billion-dollar plan to turn the Red Sea into a significant tourist attraction.

To achieve this goal, the Kingdom set up The Red Sea Development Co., which was incorporated as a closed joint-stock company wholly owned by Saudi Arabia’s Public Investment Fund.

The company’s main task is to develop and promote a new international luxury tourism destination that will set high standards for sustainable development and bring about the next generation of luxury travel.

According to the company, the development will offer unprecedented investment options and allow visitors to explore the five untouched treasures of the west coast of the Kingdom: the archipelago of over 90 islands with stunning coral reefs, dormant volcanoes and pristine nature reserves.

The new destination, which covers an area of 28,000 sq. km, is located between Umluj and Al Wajh, at the crossroads of Europe, Asia, the Middle East and Africa.

Oasis of relief

The company’s executives are upbeat about the future and feel confident that the first wave of tourists will come to the Red Sea at the end of 2022 with first three hotels to open by early 2023.

“We are gearing up to welcome the world’s most discerning travelers to The Red Sea Project by the end of this year when our first hotels will open. We have marked significant progress to ensure we remain on track,” Anton Bawab, head of operations at TRSDC, told Arab News. 




Anton Bawab, head of operations, TRSDC

Bawab said the company has identified the hotel brands and partners and announced nine of them last October.

These include leading world brands such as Jumeirah, Six Senses, EDITION, St Regis, Fairmont, Raffles, SLS, Grand Hyatt and InterContinental.

“These offerings will form part of the 16 hotels that we planned for the first phase of development by 2023. Upon full completion, we will host 50 resorts offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The destination will also include an international airport, luxury marinas, golf courses, and entertainment and leisure facilities,” Bawab explained.

Bawab hoped by 2030 the number of visitors to the Red Sea would reach one million.

“By 2030, annual visitors will be capped at one million to ensure we provide an exclusive experience while mitigating environmental impacts and protecting the local heritage, nature, and culture for future generations.

“Access will drive visitors, and visitors will drive access. To that effect, we are working hand in hand with regional airlines to ensure that our international airport is accessible with frequent flights at guest-friendly timings,” he noted.

According to the estimates of TRSDC, by 2030, TRSP will contribute SR22 billion ($5.9 billion) per year to the local gross domestic product, while construction and 10 years of steady-state operations will generate cumulative revenues of SR464 billion by 2044.

Nurturing local talent 

The work of TRSDC does not stop here. The company has also created a talent team to groom young Saudi nationals to work on the project to create more jobs in the market.

One of the key people behind this team is Zehar Filemban, senior talent development director of TRSDC.

“Our commitment to injecting the local market with 70,000 jobs while engaging with the public, private, and start-up sectors, will reenergize a thriving economy. Our mission is to redefine the relationship between luxury and sustainability while inviting the world to witness previously undiscovered local treasures. This will spotlight the country’s credentials as an ambitious nation on the global tourism stage,” Filemban said. 




Zehar Filemban, senior talent development director

To achieve these strategic imperatives, the company is taking great care and caution to produce economic, environmental, and social co-benefits for the entirety of the tourism value chain.

“The overarching nature of the tourism industry means we are inspiring growth in supporting economic sectors like renewable energy, clean transportation, low-impact building and construction, sustainable agriculture and aquaculture, and wildlife management,” Filemban said.

He emphasized that TRSDC is committed to becoming an employer of choice by recruiting, developing and retaining exceptional talent, promoting Saudization and supporting diversity and inclusion.

“In this pursuit, we will continue to facilitate knowledge transfer within the local, regional, and international industry; enhance professional development opportunities and develop young Saudi talent,” Filemban said.

Preparing for the future

Filemban added that the company is creating the changemakers of tomorrow through robust learning and development courses such as the annual Elite Graduate Program, preparation programs in local towns, community workshops, and advanced training and mentorships opportunities.

“We do this in close partnership with industry leaders like National eLearning Center, Ecole hôtelière de Lausanne, Human Resources Development Fund, Saudi Academy of Civil Aviation, Saudi Entertainment Academy, the University of Tabuk and the University of Prince Mugrin.”

Filemban also supervised different departments to harness the abilities of the young Saudi nationals and prepare them to assume new responsibilities in the future.

“Over 600 students are currently enrolled in educational programs that support the provision of high-quality education and improve the learning experience to meet the needs of all employees and students. Programs that vary between vocational training and scholarships, under a wide range of tracks including hospitality management, airport services and technical services,” he added.

Filemban insisted that people are the company’s greatest assets and are the center of its organizational development, supported by its education and learning systems.
On May 19, TRSDC achieved another key milestone geared towards upskilling young Saudi talent through signing the second agreement with the Human Resources Development Fund to deliver high-quality training programs. General Manager of HRDF Turki Aljawini visited the site to sign the new agreement and get introduced to the project site.

This partnership will create a substantial pipeline to support and equip 1,000 young Saudis with the knowledge and expertise needed to start successful careers at TRSDC spanning across various areas such as hospitality, tourism security and information technology.

Eager to learn

Students also shared their company experience and closely followed the progress of work.

Lojain Labban, a student at the University of Prince Mugrin under a TRSDC scholarship program, learned about the program through a Twitter personality that had advertised the hospitality scholarship, and it triggered her interest. 




Lojain Labban, scholarship student

“I honestly had no idea what I was going into, I didn’t know much about the major, but it seemed like a fantastic opportunity with one of the biggest companies in the Kingdom,” Labban said.

She expressed her admiration for the project and was even more impressed by the determination of officials to attract tourists to the Red Sea.

“I love that they are developing areas of Saudi soon to be one of the top places for tourism; they are creating a tourist hotspot right here. One does not need to look far to see luxury places to holiday in. It is helping the whole and the Saudi citizens themselves to truly explore and appreciate the beauty of the Kingdom,” Labban said.

Abdulrahman Hamid Alshithiwani, a high school student at Umluj, was also among the young Saudis who saw work progress at the Red Sea.

“First of all, I am proud of this most wonderful achievement because they set a very ambitious goal, and it is in my region that I was born and grew in. And to know that I am part of a giga-project that will draw the world’s attention by 2030,” Alshithiwani said.

He believes that these projects will offer massive numbers of job opportunities in many fields such as hospitality, renewable energy, aviation, the environment and much more.

“This project will take us to another level that will enable us to compete and excel in these markets,” Alshithiwani concluded.


Lucid, EVIQ sign MoU to set up high-speed public charging infrastructure in Saudi Arabia

Updated 29 May 2024
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Lucid, EVIQ sign MoU to set up high-speed public charging infrastructure in Saudi Arabia

RIYADH: Saudi Arabia is set to activate high-speed public charging infrastructure to support the adoption of electric vehicles, thanks to a new agreement. 

The memorandum of understanding between the electric car specialists Lucid and Electric Vehicle Infrastructure Co., also known as EVIQ, aims to foster cooperation and the exchange of expertise in developing and enhancing the Kingdom’s EV sector.

This contributes to the growing adoption of EVs in Saudi Arabia and bolstering the Kingdom’s position as a leading hub for innovation and development in the industry’s technology. 

Under the MoU, Lucid and EVIQ will collaborate to develop a high-speed public charging offering for Lucid customers, utilizing EVIQ’s stations to provide fast-charging capabilities. 

“By combining Lucid’s expertise in electric vehicle design, manufacturing, and sustainable mobility with EVIQ’s extensive experience in developing and operating public charging networks, including fast-charging stations, the collaboration will serve to drive innovation and accelerate EV ownership in Saudi Arabia,” Faisal Sultan, vice president and managing director Middle East at Lucid, said.

He added: “The collaboration between Lucid and EVIQ represents a significant step forward in addressing one of the key challenges hindering the mass adoption of electric vehicles — access to convenient and reliable charging infrastructure.” 

Lucid is dedicated to enhancing the ownership journey and simplifying the process of acquiring and maintaining the finest electric vehicle in the world. 

“Our mission is to provide the best-in-class EV chargers and technologies to empower drivers in Saudi to buy and use EVs with confidence,” EVIQ CEO Mohammad Bakr Gazzaz said.

He added: “Through this partnership with Lucid, we have taken another big step toward our goal of establishing a national network of fast charging locations by 2030 to enable and encourage the use of EVs across Saudi Arabia, in line with the Saudi Green Initiative and Vision 2030.”


WEF warns of political risk, says global economy is brightening

Updated 29 May 2024
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WEF warns of political risk, says global economy is brightening

  • Cautioned optimism underscores challenges for businesses and policymakers
  • MENA region expected to improve despite regional political tensions

LONDON: The World Economic Forum said on Wednesday that the global economy is poised to improve or remain stable this year, but it also warned of potential dangers stemming from geopolitical and domestic tensions.

“The latest Chief Economists Outlook points to welcome but tentative signs of improvement in the global economic climate,” said Saadia Zahidi, managing director of the WEF.

“This underscores the increasingly complex landscape that leaders are navigating. There is an urgent need for policymaking that not only looks to revive the engines of the global economy but also seeks to put in place the foundations of more inclusive, sustainable and resilient growth.”

The report highlighted that while the proportion of economists who feel optimistic about the economic outlook nearly doubled from the previous survey conducted in January, 97 percent of respondents anticipate that geopolitics will contribute to global economic volatility this year.

Furthermore, 83 percent said domestic politics would be a source of volatility in 2024, a year when nearly half the world’s population will be voting.

Experts predicted a positive outlook for the US and Asian economies, driven by decreasing inflation and robust markets.

The Middle East and North Africa region is also expected to experience moderate growth, with slight improvements since the previous survey, despite unstable political developments due to the ongoing Gaza conflict.

Despite escalating challenges for businesses and policymakers, the report identified technological transformation, artificial intelligence, and the green and energy transitions as key contributors to global growth, also driven by looser or unchanged fiscal and monetary policies.

“Despite some brightening of the near-term growth outlook, the latest results point to growing challenges for businesses and policymakers,” the WEF said in a press release.

“However, the views on the long-term prospects for the global economy are encouraging, with many policy opportunities to boost growth across high and low-income economies.”


Closing bell: TASI closes in green to reach 11,696 points 

Updated 29 May 2024
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Closing bell: TASI closes in green to reach 11,696 points 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 36.57 points, or 0.31 percent, to close at 11,696.51. 

The total trading turnover of the benchmark index was SR5.3 billion ($1.651 billion) as 128 of the listed stocks advanced, while 89 retreated.    

Similarly, the MSCI Tadawul Index increased by 11.40 points, or 0.79 percent, to close at 1,460.84. 

The Kingdom’s parallel market Nomu climbed by 68.14 points, or 0.26 percent, to close at 26,302.93. This comes as 24 of the listed stocks advanced while as many as 37 retreated.  

The top-performing stock of the day was the Saudi National Bank, with its share price surging by 5.76 percent to SR34.90. 

Other standout performers included The Mediterranean and Gulf Insurance and Reinsurance Co., and Anaam International Holding Group, whose share prices soared by 4.98 percent and 4.59 percent, reaching SR27.40 and SR1.14, respectively.  

Saudi Chemical Co. and National Medical Care Co. also showed notable performance. 

The worst performer was the National Co. for Glass Industries, whose share price dropped by 4.31 percent to SR41.05. 

Other underperformers included Al-Babtain Power and Telecommunication Co., as well as Saudi Pharmaceutical Industries and Medical Appliances Corp., whose share prices dropped by 3.77 percent and 3.59 percent, to stand at SR37.05 and SR32.20, respectively.  

Additional laggards in the market were Thob Al Aseel Co. and CHUBB Arabia Cooperative Insurance Co. 

In the parallel market, Nomu, Knowledge Net Co. was the top gainer, with its share price surging by 15.97 percent to SR30.5. 

Other top gainers in the parallel market were Shatirah House Restaurant Co. and Nofoth Food Products Co., with their share prices surging by 8.70 percent and 7.23 percent to reach SR12 and SR19.28, respectively. 

Miral Dental Clinics Co. was the major loser on Nomu, as its share price slipped 10 percent to SR90.  

Osool and Bakheet Investment Co. and Al-Modawat Specialized Medical Co. were other major losers on Nomu. Their share prices dropped by 9.50 percent and 7.23 percent, reaching SR40 and SR154, respectively. 


Saudi firms launch $365m fund to boost real estate development in Eastern Province

Updated 29 May 2024
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Saudi firms launch $365m fund to boost real estate development in Eastern Province

RIYADH: Real estate development in the Eastern Province is set to receive a boost as two Saudi firms agree to launch a fund worth SR1.37 billion ($365 million) to drive investment in the sector.

Mohammed Al-Nahdi Real Estate and Alinma Investment, the investment arm of Alinma Bank, have announced the launch of the Alinma-Al-Nahdi Real Estate Fund, a property reserve to develop prime land strategically situated in the Eastern Province spanning an area of over 1.6 million sq. m.

In a statement, Abdullah bin Salmeen Al-Nahdi, CEO of Mohammed Al Nahdi Real Estate, emphasized that the fund’s launch reflects his company’s dedication to shaping the Kingdom’s property landscape.

He also underscored his firm’s dedication to enriching its investment portfolio by introducing unique projects to address the housing needs outlined in Saudi Arabia’s 2030 Vision.

The CEO explained that his property firm will develop the land to become the premier destination for housing and real estate investment in the EP. 

This development will encompass integrated residential communities, public buildings, commercial zones, and entertainment areas. It aims to provide a comfortable and safe residential environment for citizens while enhancing the region’s quality of life.

Al-Nahdi pointed out that the sales permit has been issued, and the project will be sold in stages during the implementation works. This will allow investors and buyers to benefit from diverse and flexible ownership options that suit their needs and aspirations.

The CEO highlighted that the sales permit has been issued, and the project will be progressively released during the implementation phase. 

Mazin Fawaz Baghdadi, CEO and managing director at Alinma Investment, said that the fund’s investment objective is to achieve medium-term capital growth through direct investments in the Kingdom’s real estate sector.

Additionally, Baghdadi emphasized the significant role of real estate development funds as tools that stimulate investment and increase the supply of established land through developmental and urban projects in the Eastern Province.

He stressed that this initiative aligns with Saudi Arabia’s Vision 2030 by boosting the supply of housing units.

As per the announcement, the land is situated along King Abdulaziz Road and GCC Road in Dhahran, adjacent to the Ajyal residential district, one of Saudi Aramco’s major model housing developments. 

This strategic location facilitates convenient access to key landmarks in Dammam, Alkhobar, and Dhahran.

Headquartered in Alkhobar and founded in 1993, Mohammed Al-Nahdi Real Estate is a property company with a rich portfolio of notable projects.

According to its website, Alinma Investment is a Saudi closed joint stock firm that was established by Alinma Bank with a capital of SR1 billion and a paid-up capital of SR500 million.

The business is a leading provider of a comprehensive range of Shariah-compliant investment products and services, utilizing the latest advancements in communication and advanced technological systems.


PIF’s Neo Space Group, SES partner to revolutionize inflight connectivity

Updated 29 May 2024
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PIF’s Neo Space Group, SES partner to revolutionize inflight connectivity

RIYADH: Airlines will now experience uninterrupted connectivity services via the aviation industry’s first open-architecture, multi-orbit global network powered by regional partners including Neo Space Group — a subsidiary of Saudi Arabia’s Public Investment Fund.

Luxembourg-based satellite telecommunications company SES has announced a collaboration with several regional operators to launch its inflight network, promising seamless global connectivity for airlines.

According to a press release, this Ka-band platform will merge the geostationary earth orbit and medium earth orbit satellite networks of SES including Neo Space Group, AeroSat Link, a subsidiary of China Satcom, and Hughes Communications India.

The SES Open Orbits initiative aims to integrate regional satellite coverage into a global inflight connectivity service, allowing airline passengers uninterrupted connectivity. 

This technology is designed to link global and regional satellites to offer consistent inflight internet, enhancing the experience with high-quality video, data, and communication services comparable to ground-based offerings.

The Global Head of Aviation for SES, Elias Zaccack, emphasized the transformative potential of SES Open Orbits, stating: “By spearheading the creation of SES Open Orbits using an open architecture that supports multiple orbits and multiple waveforms, SES is enabling more satellite operators and inflight service providers to participate in the global market for inflight connectivity.”

Philippe Carette, head of the aerospace segment at PIF, expressed enthusiasm for NSG’s involvement, saying: “NSG is excited to be among the first global partners to join the SES Open Orbits inflight connectivity network.”

NSG was established in May to invest in local and international assets and capabilities, as well as promising venture capital opportunities, to catalyze the advancement and localization of sector-specific expertise. 

The company will contribute to the development and deployment of the latest cutting-edge technologies in the space industry through its four dedicated business segments: satellite communications, earth observation and remote sensing, satellite navigation and Internet of Things, as well as a satellite and space-focused venture capital fund.

China Satcom Vice President Yufei Shen noted the significance of SES’ partnership for the Asia-Pacific region, stating: “Connecting flights over, in, and out of China, and throughout the Asia-Pacific region is extremely important to most major airlines around the world. China Satcom is extremely pleased to partner with SES to help bring a whole new level of inflight connectivity by leveraging our Ka-band network.”

Shivaji Chatterjee, CEO, president, and managing director of HCI, added: “We will also bring our deep experience in providing end-to-end connectivity services in multiple verticals to our partnership with SES to help ensure the best possible passenger experience to airlines using this exciting, first-of-its-kind inflight connectivity network.”

As a managed service provider of Airbus’ HBCplus program, SES Open Orbits will also be accessible to participating airlines. Additionally, SES is working with Safran Passenger Innovations to offer SES Open Orbits on Boeing aircraft through the Boeing TSA process.

This collaboration represents a major step forward for the inflight process, aiming to enhance passenger experiences by delivering reliable, high-quality connectivity worldwide.