Red Sea Global finalizes contractor for AMAALA’s spas and swimming pools

The water elements in the two resorts are expected to enhance the guest experience as Saudi Arabia steadily embarks on its journey to emerge as a global tourism hub. (Supplied)
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Updated 24 August 2023
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Red Sea Global finalizes contractor for AMAALA’s spas and swimming pools

RIYADH: Saudi Arabia’s multi-project developer Red Sea Global has selected Abdullah bin Taleb Swimming Pools Co. to construct pools, spas and other water feature works at Triple Bay in AMAALA. 

According to a press release, these water features will be constructed at two resorts operated by Rosewood Hotels and Resorts and InterContinental Hotels Group’s Six Senses. 

The press statement noted that the water elements in these resorts are expected to enhance the guest experience as the Kingdom steadily embarks on its journey to emerge as a global tourism hub. 

“This collaboration with Abdullah bin Taleb Swimming Pools Co. is another milestone on the works for two key resorts currently under development at Triple Bay,” said Fahad Al-Balawi, head of construction at AMAALA. 

He added: “Their expertise and commitment to excellence align perfectly with our vision for AMAALA, along with our shared ambitions in the field of responsible development.” 

Hamed Bintaleb, the CEO of Abdullah bin Taleb Swimming Pools Co., said that the water features in these two resorts will blend with the natural beauty of Triple Bay. 

“This project aligns perfectly with our ambition to support the successful realization of the Saudi Vision 2030 program, particularly the goals pertaining to the growth of tourism in the Kingdom,” added Bintaleb. 

Earlier this month, RSG awarded the design contract of Rosewood Hotels and Resorts to SALCO. 

On Aug. 2, the developer also revealed that the solar-powered Red Sea International Airport is set to become operational in a few months. 

The company noted in its latest construction update that significant structural and infrastructure works are well-advanced, including developing villas, guest hubs and other structures. 

RSG added that work is underway on all 11 resorts and infrastructure across Shoura Island. 

The development of mega projects like AMAALA, The Red Sea and NEOM is part of Saudi Arabia’s efforts to promote tourism, as the Kingdom is on its path to diversifying its economy, which has relied on oil for many years. 

Saudi Arabia’s National Tourism Strategy will attract 100 million domestic and international visitors annually by 2030. 

Moreover, the strategy also aims to increase the contribution of the tourism sector to the gross domestic product in the Kingdom to more than 10 percent. 


Closing Bell: Saudi benchmark index edged up to close at 10,549

Updated 01 January 2026
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Closing Bell: Saudi benchmark index edged up to close at 10,549

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 58.39 points, or 0.56 percent, to close at 10,549.08.

Total trading turnover reached SR1.59 billion ($425 million), with 218 stocks advancing and 37 declining.

The parallel market, Nomu, added 222.72 points, or 0.96 percent, to finish at 23,519.01, as 43 stocks rose and 21 retreated. Meanwhile, the MSCI Tadawul Index increased by 6.11 points, or 0.44 percent, to close at 1,393.42.

Leading the day’s gains was Alkhaleej Training and Education Co., whose shares jumped 7.63 percent to SR20.45. Other strong performers included Consolidated Grunenfelder Saady Holding Co., up 6.60 percent to SR9.69, and Abdullah Saad Mohammed Abo Moati for Bookstores Co., which rose 6.48 percent to SR48.98.

On the downside, Naseej International Trading Co. recorded the largest decline, falling 2.44 percent to SR34.44, while National Gas and Industrialization Co. dropped 1.79 percent to SR93.10 and Nama Chemicals Co. slipped 1.32 percent to SR23.99.

Saudi Aramco Base Oil Co., or Luberef announced the signing of a memorandum of understanding with Saudi Aramco for a GIII+ production facility in Jazan.

The 18-month agreement, which may be renewed, is a key step in the Group III+ Project aimed at enhancing production capacity. The MoU is non-binding, and any future approvals, formal agreements, or financial impacts will be disclosed in line with regulatory guidelines. Luberef ended the session at SR96.10, down 0.26 percent.

Meanwhile, the Power and Water Utility Co. for Jubail and Yanbu, or Marafiq, reported receiving official notice of higher energy product prices used in production. The company estimated the financial impact for 2026 at 5.6 percent of total cost of sales, based on its most recent audited 2024 statements.

The effect is expected to appear in the first quarter of the 2026 fiscal year. Marafiq said it is working to mitigate the impact through improved production efficiency, enhanced plant reliability, optimized asset utilization, and cost reductions. The stock closed at SR36.80, up 1.03 percent.