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RSG and Kingdom Holding Company bring first joint venture-developed resort at The Red Sea to market
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RIYADH, Saudi Arabia — Red Sea Global (RSG), the regenerative tourism developer, has reached a major milestone as Four Seasons Resort and Residences Red Sea at Shura Island welcomes first guests from 20 May, marking the first joint venture-developed resort within its portfolio to enter the market.
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Developed in partnership with Kingdom Holding Company (KHC), the launch represents a shared milestone for both organizations and marks a new phase in RSG’s development model, highlighting the growing role of institutional and private sector partnerships in scaling Saudi Arabia’s luxury tourism sector.
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“With Four Seasons preparing to welcome guests, we are significantly scaling the capacity and offering of The Red Sea destination in time for one of the busiest travel periods in our calendar,” said John Pagano, Group CEO at Red Sea Global.
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“Launching reservations for the first joint venture-developed resort in our portfolio is also an important commercial milestone for RSG, demonstrating the value of strategic partnerships, the strength of our investment proposition and reflecting growing market confidence in Saudi Arabia’s tourism sector.”
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The SAR 2.6 billion resort was developed through a 50-50 joint venture between RSG and KHC, with SAR 2 billion ($522 million) debt financing provided by Riyad Bank.
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Sarmad Zok, CEO at Kingdom Hotel Investments, a subsidiary of KHC, said: “Kingdom Holding Company’s investment in Four Seasons Resort and Residences Red Sea at Shura Island reflects our continued commitment to deploying long-term capital into hospitality and tourism assets in alignment with Saudi Vision 2030. Alongside Red Sea Global, this landmark development demonstrates the strength of the destination proposition and the growing international appeal of Saudi Arabia’s luxury tourism market.”
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Greg Djerejian, Group Head of Investments and Group Chief Legal Officer at Red Sea Global, added: “The successful delivery of this resort sends a strong signal to the market about the quality of opportunities emerging across RSG’s portfolio and our ability to convert investor interest into operating assets, while reinforcing our reputation as a developer that delivers.”
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Four Seasons Resort and Residences Red Sea at Shura Island presents a serene sanctuary at the secluded eastern tip of the island, blending regenerative luxury, anticipatory service, and experiences for the entire family. The resort is surrounded by crystal-clear waters on three sides and features 149 accommodations and 31 Resort Residences that open fully to the outdoors. Guests can enjoy a selection of dining options ranging from all day dining and plant forward specialties at Sea Green, Levantine cuisine at Al Forn, to al fresco Italian fare at Spiaggia Restaurant and Pool. For adventure seekers, a variety of water sports await, while younger guests can enjoy curated children’s and teens’ programs.
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The resort operates in line with RSG’s regenerative tourism principles, powered entirely by renewable energy and supported by advanced water and waste management systems designed to minimize environmental impact while contributing to long-term conservation goals.
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The achievement comes as RSG expands hospitality and flight capacity at The Red Sea following occupancy levels reaching 82% during the final 10 days of Ramadan, with demand expected to accelerate further ahead of Eid Al-Adha. To support increased demand, RSG is adding 32 additional flights to Red Sea International Airport (RSI) during the holiday period.
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The Red Sea currently has 11 hotels open, with six additional resorts scheduled to open on Shura Island in the coming months.
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About Red Sea Global
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Red Sea Global (RSG – www.redseaglobal.com) is a vertically integrated real estate developer with a diverse portfolio across tourism, residential, experiences, infrastructure, transport, healthcare, and services. This includes the luxury regenerative tourism destinations The Red Sea, which began welcoming guests in 2023, and AMAALA, which remains on track to welcome first guests this year.
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A third destination, Thuwal Private Retreat opened in 2024. RSG has also been entrusted with refurbishment works at Al Wajh Airport, focused on upgrading the existing terminal and infrastructure, and building a new international terminal.
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RSG is a PIF company and a cornerstone of Saudi Arabia’s ambition to diversify its economy. Across its growing portfolio of destinations, subsidiaries, and businesses, RSG seeks to lead the world towards a more sustainable future, showing how responsible development can uplift communities, drive economies, and enhance the environment.
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About The Red Sea
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The Red Sea is a pioneering destination on Saudi Arabia’s west coast, inviting guests to experience a place of extraordinary natural beauty across more than 28,000 km² and an archipelago of 90+ pristine islands framed by desert and mountains. Open since 2023, The Red Sea welcomes guests to a growing collection of world-class resorts operated by world-renowned hotel brands and Red Sea Global. Shura Island, the heart of the destination, began welcoming guests in 2025 and is currently home to five open resorts with a total of 11 resorts planned for the island. The island is set to be fully live in 2026. Signature experiences also include high-adrenaline water and land sports to cultural and nature-based adventures, delivered by destination activity brands WAMA (over-water), Galaxea (underwater), and Akun (inland).
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