October 25, 2018 / 7:48 AM / 22 days ago

Saudi Arabia's Red Sea tourism project to break ground in 2019

RIYADH, Oct 25 (Reuters) - Saudi Arabia’s Red Sea tourism project will break ground in 2019 and open the first phase of its development in 2022, the Red Sea Development Company’s chief executive, John Pagano, said.

Saudi Arabia plans to develop resorts on 50 islands off the Red Sea coast backed by the Saudi sovereign wealth fund, the Public Investment Fund. The Red Sea Project, to be built between the cities of Amlaj and al-Jawh, will offer a nature reserve, diving in coral reefs and heritage sites. (Reporting by Marwa Rashad and Katie Paul, writing by Hadeel Al Sayegh Editing by Robin Pomeroy)

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