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 main index rises to close at 11,341

Updated 11 sec ago
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Closing Bell: Saudi main index rises to close at 11,341

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 12.75 points, or 0.11 percent, to close at 11,341.27.

The total trading turnover of the benchmark index was SR5.15billion ($1.37 billion), as 84 of the listed stocks advanced, while 168 retreated.

The MSCI Tadawul Index increased, up 3.84 points or 0.25 percent, to close at 1,530.98.

The Kingdom’s parallel market Nomu lost 233.47 points, or 0.97 percent, to close at 23,810.24. This comes as 31 of the listed stocks advanced, while 39 retreated.

The best-performing stock was Al Majed Oud Co., with its share price surging by 6.02 percent to SR156.80.

Other top performers included Advanced Building Industries Co., which saw its share price rise by 5.75 percent to SR42.32, and Al Kathiri Holding Co., which saw a 5.50 percent increase to SR2.11.

On the downside, the worst performer of the day was Elm Co., whose share price fell by 5.99 percent to SR699.

Abdullah Saad Mohammed Abo Moati for Bookstores Co. and United Cooperative Assurance Co. also saw declines, with their shares dropping by 3.60 percent and 3.08 percent to SR45.02 and SR3.78, respectively.

On the announcement front, Saudi Arabian Refineries Co. has announced the completion of the issuance of the articles of association and the commercial registration of its holding company under the name Masafi Ventures Co. Holding, a wholly owned single-person limited liability company.

SARCO’s share price closed at SR51.80 on the main market, marking a 0.19 percent decrease.

In another announcement, Multi Business Group Co. has announced a project award from the National Housing Co. for the design and execution of the Al Aziziyah Sales Center.

The contract involves all construction, architectural, fit-out, and electromechanical engineering works for the new sales facility, according to a statement on Tadawul.

The company’s share price remained unchanged at SR10 on the parallel market.