The firm had borrowed 14.1 billion riyals in 2021 to fund construction for the first phase. — Bloomberg
RIYADH: The firm developing luxury tourism projects on Saudi Arabia’s Red Sea coast is planning to raise at least 14 billion riyals (US$3.7bil) over the next year.
The fresh financing will help roll out construction in Amaala, a 29-hotel destination focused on wellness, Gregory Djerejian, the group head of investments and legal at Red Sea Global, said in an interview in Dubai.
