AMAALA, a visionary giga-project by the Public Investment Fund (PIF) underway in northwest Saudi Arabia, has been incorporated as a standalone company. A jewel in the crown for the Middle East Riviera alongside a hidden, untouched and thriving stretch of the Red Sea coastline, Amaala will set new standards in sustainable development while placing the kingdom on the global hospitality map, offering a vibrant and progressive destination for wellness, the arts, recreation and celebration of the region’s rich cultural heritage. Located within the Prince Mohammed Bin Salman Natural Reserve, the 3,800-sq km (1,460 square miles) giga-project will form the heart of the Riviera of the Middle East. Amaala will blend wellness with creative and social offerings to take guests on a journey of holistic self-transformation.
The development is slated to include the world’s top hotel brands and more than 800 residential villas, apartments and estate homes, alongside 200 high-end fashion and retail establishments, a contemporary arts museum and a wide variety of galleries, ateliers and artisan workshops, as well as signature dining and world-class marinas and sporting venues.
Project background
Under the patronage of Prince Mohammed Bin Salman Bin Abdulaziz Al Saud, the Public Investment Fund (PIF) Development Management Organisation was established with Nicholas Naples, CEO, tasked with developing this integrative destination for wellness and the arts.
The initial seed funding will be provided by the PIF. Private sector companies and market investors will be invited to invest in the project as well as operate the project’s facilities.
The project is expected to commence construction in 2020 with all phases completed by 2028.
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