Red Sea Global (RSG), owned by Saudi Arabia’s Public Investment Fund (PIF) and chaired by Crown Prince Mohammed bin Salman, is expanding with a new tourism project in Italy.
CEO John Pagano announced in an interview that RSG’s international ambitions are part of a broader strategy to transform the kingdom’s economy from an oil dependency to one bolstered by tourism.
Exact details of the project in Italy, including its location, have not yet been announced.
As RSG prepares to enter the Italian market, Pagano emphasized the importance of selecting projects that align with the company’s values and operational model.
RSG is currently developing six luxury destinations along the Saudi Arabian west coast, with the first resort having opened in 2023.
The complete portfolio will include 50 resorts by 2030, with ongoing projects such as Thuwal Private Retreat and AMAALA, which are slated for completion in the coming years.
Pagano has overseen RSG’s growth from a small team to over 11,000 employees, a development that underscores the company’s significant role in the nation’s economic transformation. His recent appointment to the NEOM project board signals a continued commitment to large-scale developments in the region.
RSG’s approach to project management is distinctive, involving direct procurement of contracts to maintain control over quality and material selection.
This model has enabled RSG to deliver luxury experiences that cater to a new generation of travelers seeking sustainable and unique offerings.
“Travellers are looking to travel sustainably. So if you can come to a destination that has worked in harmony with the environment, that has protected nature, that has thriving coral reefs, that in and of itself is attractive for guests,” Pagano said during his interview.
RSG’s resorts are also receiving global acclaim. Earlier this month, four of its hotels were honored with Michelin Keys, with Shebara earning 2 Keys and being shortlisted for a global Architecture Award.
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