Concession agreement signed for multibillion mixed-use development PPP project in Saudi Arabia

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Concession agreement signed for multibillion mixed-use development PPP project in Saudi Arabia

Red Sea Global (RSG) has entered into a 25-year concession agreement with EDF (Électricité de France) and Masdar on a multi-utilities infrastructure facility to service the Amaala megaproject in Saudi Arabia.

The project's scope encompasses financing, engineering, development, construction, operation, maintenance, and transfer of a comprehensive multi-utilities infrastructure facility. This new facility integrates various components, including an optimized off-grid renewable energy system that harnesses energy from photovoltaic technology, a battery energy storage system ensuring 24/7 power availability, a desalination plant, and a wastewater treatment facility, all powered by renewable sources. The renewable supply system has the capacity to generate up to 410,000 MWh annually, sufficient to meet the energy needs of 10,000 households throughout the year. Additionally, a 700 MWh battery storage facility guarantees a continuous supply of renewable energy, day and night. A water desalination plant utilizing reverse osmosis technology with a daily capacity of 37 million liters will also be part of the project.

The initial phase of Amaala, focusing on the Triple Bay masterplan, is scheduled to welcome its first guests in early 2025. Upon full completion, the destination will feature over 3,900 hotel rooms distributed across 29 hotels, along with 1,200 upscale resident villas, apartments, and estate homes. Furthermore, the development will offer high-end retail establishments, fine dining options, wellness facilities, and recreational amenities. Additionally, it will create a vibrant community for over 15,000 residents and employees who will eventually call Amaala home when it reaches its final phase.

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