Saudi tourism masterpiece Amaala standalone entity

Article posted by Coliseum, December 17^th, 2019

Image: Public Investment Fund

Public Investment Fund (PIF) – the sovereign wealth fund of Saudi Arabia – has absorbed Amaala as a standalone company. Amaala is a visionary giga-project initiated by the PIF in northwest Saudi Arabia.

Amaala’s objective is to set new benchmarks in sustainable development while giving the kingdom an elevated position on the global hospitality map.

One of the potential mega projects in Saudi Arabia, Amaala has been given the title ‘Riviera of the Middle East’. It is one among a series of mega projects announced last year as the oil-rich kingdom seeks to focus more on tourism.

A statement released stated that Amaala aims to offer a “vibrant and progressive destination for wellness, the arts, recreation.”

The statement further read that located within the Prince Mohammed bin Salman Natural Reserve, the 3,800 square kilometer project will blend wellness with creative and social offerings to take guests on journey of “holistic self-transformation”.

The development envisages including the A-list hotel brands of the world, more than 800 residential villas, apartments and estate homes, alongside 200 high-end fashion and retail establishments, a contemporary arts museum and wide variety of galleries, ateliers and artisan workshops, as well as signature dining and world-class marinas and sporting venues.

The project which started in September 2018 is aimed at “the world’s top 2.5 million leisure travellers”, and its planned date of completion is 2028.

PIF unveiled plans for a luxury tourism destination on its north western coast last year, declaring the first phase was due to open in the fourth quarter of 2020.

Groundbreaking is due to start in the first part of 2020. Plans have also been revealed to build Neom, a mega project projected as a regional Silicon Valley, in addition to the Red Sea project, a reef-fringed resort destination. Both developments are expected to come up the price tag of which will be worth hundreds of billions of dollars.

The brain behind these projects is Prince Mohammed, who has designed a sweeping reform program labeled ‘Vision 2030’. The thrust of this program is to give maximum impetus on tourism.

Boosting tourism has been made the core objective as the kingdom reels under economic slowdown and intend to boost domestic spending and attract foreign investment through these reforms.

Amaala will be a super luxury tourist destination over the Kingdom’s Red Sea coast. It will host crème de la crème international facilities distributed on three sites through which guests and travelers will be able to enjoy one of a kind experience in health, arts, culture, and sports.

Thanks to its pure ecosystem and world-class yacht facilities, visitors will be able to enjoy the diving and sailing season in the Mediterranean until September and beyond. This whole project will redefine tourism experience.

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