Saudi Arabia’s TRSDC to deliver first underwater excavation on the Red Sea coast

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Updated 23 November 2021
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Saudi Arabia’s TRSDC to deliver first underwater excavation on the Red Sea coast

  • Strategic collaboration with Ministry’s Heritage Commission will facilitate excavation of Red Sea’s best preserved and intact wooden shipwreck
  • Agreement with museum commission will ensure items of interest can be safely preserved

RIYADH: The Red Sea Development Company on Tuesday entered into a partnership with the Ministry of Culture to deliver Saudi Arabia’s first underwater archaeological excavation.

The agreement with the ministry aims at uniting efforts in the fields of archeology, heritage, history and sustainable tourism along the Kingdom’s Red Sea coast and will hopefully lead to the inclusion of the area in UNESCO’s list of World Heritage Sites.

Maritime museum

The agreement includes the creation of the Kingdom’s first maritime museum, which will conserve and display underwater archaeology in Saudi Arabia.

The excavation project of the Red Sea’s largest wooden shipwreck will be led by Italy’s University of Napoli.

Chiara Zazzaro, director of Red Sea Shipwreck Excavation and assistant professor of maritime archeology at the University of Napoli L'Orientale said: “The shipwreck is currently the most intact and best-preserved wooden shipwreck in the Red Sea. With its spectacular cargo of jars, porcelain and spices, this 18th century merchantman testifies the intense trading activities going on in the Red Sea before the opening of the Suez Canal, and its articulated connection with the wider Indian Ocean trade. The preserved wooden structure represents unique evidence of massive and expensive boat building construction, previously unknown in the region.”

The shipwreck occurred sometime between 1725 and 1750 and is located in Al-Wajh lagoon. Submersed in 20-22 meters of water, the hull remains in the seabed along with a mound of more than 1,000 jugs which have calcified into a single group.

It is approximately 40 meters in length and 16 meters wide with an intact cargo of potentially 1,000 tons.

Preservation of artifacts

Under the deal, all artifacts will be preserved, catalogued, and stored in the Red Sea Museum in Jeddah, while some pieces will be displayed for visitors of The Red Sea Project.

Commenting on the partnership, TRSDC CEO John Pagano said: “Partnering with the Heritage and Museum Commissions allows us to both explore the historical significance of this unique region and ensure the preservation of our discoveries.

“TRSDC is committed to responsibly developing the extraordinary natural beauty and historical value of the Red Sea and we look forward to close collaboration to advance the Kingdom’s heritage conservation efforts.”

Full seabed survey

The partnership also enables a full seabed survey to be delivered, stretching from Jeddah, upward along the coastlines of The Red Sea Project and AMAALA. The survey planned for later this year, will identify archaeological remains in the ocean floor, which can potentially be excavated thereafter.

Heritage sites

The collaboration also facilitates the exploration of previously undiscovered areas of historical significance, with an aim to increase Saudi Arabia’s current list of six sites on UNESCO’s World Heritage List. A detailed survey is being planned for the port of “Akre Kom” (citadel or garrison) and “Hippos Kome” (Horse Bay), mentioned in ancient texts by Greek geographers Ptolemy and Strabo.

Other areas of the partnership include restoring historical structures in the area; rebuilding ancient mosques; and establishing centers for the production, sale and display of traditional handicrafts.

The MoUs were signed by Hamed Fayez, vice minister of culture, vice chairman of Heritage Commission and Museums commissions, and TRSDC chief.


Closing Bell: Saudi main index climbs to 10,485 

Updated 21 December 2025
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Closing Bell: Saudi main index climbs to 10,485 

RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Sunday, gaining 34.32 points, or 0.33 percent, to close at 10,484.59. 

The total trading turnover of the benchmark index stood at SR2.59 billion ($690 million), with 168 listed stocks advancing and 87 declining. 

The Kingdom’s parallel market Nomu also gained 100.37 points to close at 23,454.65. 

The MSCI Tadawul Index advanced by 0.13 points to 1,377.44. 

The best-performing stock on the main market was Nama Chemicals Co., whose share price increased by 9.98 percent to SR22.38. 

The share price of Al Masar Al Shamil Education Co. rose by 9.15 percent to SR23.85. 

Saudi Paper Manufacturing Co. also saw its stock price climb by 8.42 percent to SR57.95. 

Conversely, the share price of Canadian Medical Center Co. dropped by 6.37 percent to SR6.03. 

The stock price of Kingdom Holding Co. also declined by 3.16 percent to SR8.28. 

In the parallel market, Alfakhera for Mens Tailoring Co. was the top performer, with its share price advancing by 16.40 percent to SR8.80. 

On the announcements front, Theeb Rent a Car Co. said it had signed a long-term vehicle leasing services contract valued at SR110.4 million with Hungerstation Co. 

Under the deal, Theeb will lease 2,000 vehicles to HungerStation for a period of four years starting from 2026, according to a Tadawul statement. 

The statement added that the vehicles will be delivered in batches within the first six months from the contract start date, taking into consideration global logistical circumstances and procedures beyond the control of both the agents and the company. 

The contract is expected to have a positive impact on the company’s financials from the first quarter of 2026. 

The share price of Theeb Rent a Car Co. declined by 0.79 percent to SR37.80.