Tue, 2021-02-16 00:33
DUBAI: Amaala, an ultra-luxury destination on the northwestern coast of Saudi Arabia, has so far awarded 100 contracts at a total value of SR4.1 billion ($1.09 billion), CNBC Arabia reported, citing company CEO John Pagano.
“Amaala and the Red Sea projects have similar strategies, where the first is backed by the Kingdom’s sovereign wealth fund, Public Investment Fund (PIF), which provides the biggest share of the project’s funding,” stated Pagano, who is also the CEO of The Red Sea Development Co. (TRSDC).
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