Red Sea Global Secures SAR6.5 Billion Green Loan to Boost AMAALA’s Next Phase
<h3>Red Sea Global Secures SAR6.5 Billion Green Financing to Advance AMAALA’s Sustainable Future</h3><p>Red Sea Global (RSG), the visionary Saudi developer behind the world-renowned regenerative tourism projects <strong>The Red Sea</strong> and <strong>AMAALA</strong>, has announced that it has successfully secured <strong>SAR 6.5 billion ($1.73 billion)</strong> in green financing. This major funding milestone will propel the next phase of development at <strong>AMAALA</strong>, one of Saudi Arabia’s flagship luxury wellness destinations.</p><p>The financing comes through a consortium of leading Saudi banks, <strong>led by Riyad Bank</strong> as the sole underwriter, with <strong>The Saudi Investment Bank (SAIB)</strong> and <strong>Bank AlBilad</strong> serving as mandated lead arrangers. This collaboration combines <strong>conventional and Islamic financing</strong>, structured under RSG’s <strong>Green Loan Framework</strong>, which adheres to globally recognized sustainability and environmental standards.</p><h3>Strengthening the Green Investment Landscape</h3><p>RSG first introduced its Green Loan Framework in 2021, marking a historic milestone by securing Saudi Arabia’s <strong>first Riyal-denominated green loan</strong> for <strong>The Red Sea Project</strong>. The latest facility builds upon that legacy and further cements RSG’s leadership in sustainable finance.</p><p>The company’s long-standing relationship with Riyad Bank also continues to flourish. The bank previously backed RSG’s <strong>SAR 2 billion</strong> debt financing for a joint venture with <strong>Kingdom Holding Company</strong> to develop the <strong>Four Seasons Resort on Shura Island</strong>, expected to open later this year.</p><p>This new agreement not only accelerates AMAALA’s progress but also sends a clear signal of <strong>growing investor confidence</strong> in RSG’s ability to deliver large-scale, environmentally responsible tourism developments.</p><h3>A Testament to Investor Confidence</h3><p>According to <strong>John Pagano</strong>, CEO of Red Sea Global, this financing reflects the trust and confidence investors have in the company’s track record. “We have proven that we are a developer who delivers,” Pagano said. “Our partners’ renewed support for AMAALA demonstrates their confidence in our vision for sustainable tourism. AMAALA is set to open in the coming weeks, marking another milestone in our journey toward redefining global luxury travel.”</p><p><strong>Nadir Al-Koraya</strong>, CEO of Riyad Bank, emphasized that AMAALA aligns seamlessly with <strong>Saudi Arabia’s Vision 2030</strong>, describing it as “an ambitious, sustainability-driven destination that will redefine wellness and luxury tourism.”</p><h3>Commitment to Responsible Development</h3><p><strong>Gregory Djerejian</strong>, RSG’s Group Head of Investments and Chief Legal Officer, noted that the transaction showcases “our shared commitment to responsible, future-focused development.” He added that it reflects the <strong>financial sector’s growing support for green projects</strong>, which are becoming central to Saudi Arabia’s evolving economic landscape.</p><p>The transaction was legally advised by <strong>Akin</strong> (borrower’s counsel) and <strong>Linklaters</strong> (lenders’ counsel), ensuring the deal complies with <strong>international Green Bond and Green Loan Principles</strong>, underscoring transparency and adherence to sustainability benchmarks.</p><h3>The Future of Ultra-Luxury Wellness Tourism</h3><p>Located along the stunning Red Sea coast at <strong>Triple Bay</strong>, AMAALA is positioned to become a global benchmark for <strong>ultra-luxury wellness and regenerative tourism</strong>. Scheduled to open later this year, the destination will feature over <strong>1,400 hotel rooms across eight world-class resorts</strong>, offering unparalleled hospitality experiences.</p><p>The development will also house the <strong>Corallium Marine Life Institute</strong>, a cutting-edge research and education hub dedicated to marine conservation, and the <strong>AMAALA Yacht Club</strong>, envisioned as a regional hub for luxury yachting. These facilities emphasize AMAALA’s commitment to <strong>environmental preservation, scientific innovation, and luxury tourism excellence</strong>.</p><h3>A New Era of Sustainable Investment</h3><p>The <strong>SAR 6.5 billion green financing</strong> marks a defining chapter in Saudi Arabia’s expanding <strong>sustainable investment landscape</strong>. It highlights RSG’s dedication to aligning tourism development with ecological preservation, innovation, and global best practices.</p><p>As Saudi Arabia continues its transformation under Vision 2030, initiatives like AMAALA and The Red Sea are setting a new global standard for responsible tourism — where <strong>luxury, sustainability, and innovation converge</strong> to create destinations that enrich both people and the planet.</p><p>With this new financing, Red Sea Global not only strengthens its financial foundation but also reinforces Saudi Arabia’s position as a <strong>leader in green tourism and sustainable development</strong> — paving the way for a greener, more prosperous future along the Red Sea coast.</p>