Saudi Arabia has awarded AL-AYUNI Investment and Contracting Company to develop high-end retail establishments at Amaala, apart from fine dining, wellness, and other recreational facilities. These will be located at a point on the Red Sea which is being called ‘Triple Bay.’
Amaala is a land and property megaproject currently in development in Saudi Arabia that is managed by Saudi developer Red Sea Global, which is valued at US $1 billion. The developer has awarded AL-AYUNI Investment and Contracting Company to deliver the first phase of development at Amaala, an ultra-luxury tourism destination located along the Kingdom’s northwestern coast, across its Triple Bay masterplan. The contract is estimated to be worth US $266 million.
AL-AYUNI, classified as a “First Class” contractor in the Kingdom since 2006, will be responsible for delivering state-of-the-art Primary Utility Infrastructure Systems, while minimizing Triple Bay’s carbon footprint as part of Amaala’s commitment towards net-zero operations.
AL-AYUNI was selected based on its overall technical and commercial competencies, as well as regional and global credentials. All design and construction methods meet RSG’s stringent criteria for end-to-end sustainable development, including economic, financial, social, and institutional factors.
Faheed Al-Ayuni, chairman of AL-AYUNI Investment and Contracting Company, said: “Red Sea Global is a future-forward developer that is closely aligned with our legacy of innovating world-class solutions, cementing trusted relationships, and setting new benchmarks.
“It is an honor for us to contribute to its pioneering destinations and we look forward to unlocking the full breadth of our robust capabilities to meet RSG’s ambitious sustainability targets.”
Amaala’s first phase of development, focused on the Triple Bay masterplan, will encompass eight hotels and upwards of 1,200 hotel keys, upon full completion in 2027, the destination will offer 3,000 hotel rooms across 25 hotels as well as high-end retail establishments, fine dining, wellness, and recreational facilities.
The Amaala development plan is part of Saudi Vision 2030, and its name comes from the Arabic word for hope. The plan is to attract visitors to the Red Sea coast through luxury tourism, and the project consists of three major developments: the Coastal Development, Amaala Island, and Triple Bay.
Prince Mohammed bin Salman is the patron of the project. Amaala, along with the other Red Sea projects, is expected to employ 35,000 people and span over 3,800 square kilometers.
