The Red Sea, AMAALA to be tourist destinations for all seasons

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Updated 05 June 2022
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The Red Sea, AMAALA to be tourist destinations for all seasons

RIYADH: The Red Sea Project and AMAALA will be year-round tourist destinations once it is ready, putting Saudi Arabia on the global tourism map, said a top official of The Red Sea Development Co. and AMAALA. 

“Summer, winter, spring or autumn, you name it; it will be a year-round destination,” said Ahmad Darwish, chief administrative officer at TRSDC and AMAALA, in an interview with Arab News on the sidelines of the Future Hospitality Summit.

He noted that the diversity offered by the Red Sea Project is impeccable and will make visitors stay for long.

“It’s the 90 islands, 200-kilometer coastline, dunes, mountains and volcano, all in one destination. In Red Sea Project, you are not just sitting on an island like the Maldives. Instead, you have other activities like excursions. It will increase your stay, and tourists will also have repeated visits,” he said.

Regenerative tourism

During the interview, Darwish said that TRSDC and AMAALA are now spearheading a journey beginning from sustainability to reaching regenerative tourism.

“We’re moving away from sustainability to regenerative tourism. It’s not just keeping things as it is. It’s improving the situation. We’re trying to do better things for the environment and habitats,” said Darwish.

He added: “It’s a combination of things that we will do to increase our positive impact on the region. It will increase our credibility further and bring additional partners, both international and local.”

Enhancing customer experience

Darwish revealed that both the Red Sea Project and AMAALA are wisely using technology to enhance the customer experience.

“These smart services intend to have a seamless journey for the customer. We’re also partnering with several other partners in the technology sector to improve the customer journey,” he said.


Closing Bell: Saudi main index closes in green at 10,917 

Updated 26 min 5 sec ago
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Closing Bell: Saudi main index closes in green at 10,917 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 4.86 points, or 0.04 percent, to close at 10,917.04. 

The total trading turnover of the benchmark index was SR3.95 billion ($1.05 billion), as 102 of the listed stocks advanced, while 147 retreated. 

The MSCI Tadawul Index increased, up 0.54 points, or 0.04 percent, to close at 1,467.06. 

The Kingdom’s parallel market Nomu lost 85.41 points, or 0.36 percent, to close at 23,357.50. This comes as 19 of the listed stocks advanced, while 46 retreated. 

The best-performing stock was Tourism Enterprise Co., with its share price surging by 10 percent to SR13.53. 

Other top performers included Al Yamamah Steel Industries Co., which saw its share price rise by 8.64 percent to SR39.22, and Anaam International Holding Group, which saw a 4.05 percent increase to SR12.59. 

Alramz Real Estate Co. saw its share price rising by 3.95 percent to close at SR61.85, while Umm Al Qura for Development and Construction Co. closed at SR18.08, marking a 3.67 percent increase in share price. 

On the downside, the worst performer of the day was Saudi Industrial Export Co., whose share price fell by 3.72 percent to SR2.59. 

ACWA Power Co. saw its share price fall 3.54 percent to SR177.20, while Naseej International Trading Co. declined 3.08 percent to SR29.56. 

Moreover, the share price of Rabigh Refining and Petrochemical Co. dropped 2.95 percent to close at SR6.57, while Nice One Beauty Digital Marketing Co. saw its share price dropping 2.65 percent to SR17.97. 

On the announcement front, Alinma Capital has declared a cash dividend distribution totaling SR6.55 million for unitholders of the Alinma Saudi Government Sukuk ETF Fund.  

The dividend, covering the period from July to December, amounts to SR0.162 per unit and represents approximately 1.56 percent of the fund’s net asset value as of Jan. 15.  

Its share price closed at SR10.42 on the main market, marking a 0.1 percent increase. 

Also, Itmam Consultancy Co. has been awarded a significant project by the Digital Government Authority to develop digital investment skills within the public sector.  

The contract, officially granted on Jan. 19, is valued at more than 5 percent of the company’s total 2024 revenue.  

According to a statement, the program aims to equip government employees with the expertise needed to enhance digital government investment efficiency, focusing on software license development aligned with legal and technical standards.  

Its share price remained unchanged on Nomu at SR16.40.