The company known as Red Sea Global is owned by the Public Investment Fund of Saudi Arabia.
Based on the available information, Red Sea Global, a prominent developer of giga-projects in Saudi Arabia, is wholly owned by the Public Investment Fund (PIF) of Saudi Arabia.
Founded in July 2017, the company was established under the vision of the Saudi Crown Prince, Mohammed bin Salman. Its creation and development are integral parts of Saudi Arabia's Vision 2030, a strategic framework aimed at reducing the kingdom's reliance on oil and diversifying its economy.
Key Facts About Red Sea Global Ownership:
Here are some key points regarding the ownership and purpose of Red Sea Global, derived from the provided reference:
- Owner: Public Investment Fund (PIF) of Saudi Arabia.
- Founder: Established under the initiative of Crown Prince Mohammed bin Salman.
- Founding Year: July 2017.
- Strategic Importance: A core component of Saudi Arabia's Vision 2030.
- Goal: To diversify the Saudi economy by significantly contributing to the growth of its tourism sector.
Through projects like The Red Sea and Amaala, Red Sea Global is developing luxury tourism destinations on Saudi Arabia's west coast, aligning with the national goal of economic diversification.
