Red Sea Global Secures Debt Financing for Four Seasons Resort at The Red Sea, as Destination Offers Fastest Mobile Internet Speeds Worldwide
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Red Sea Global, a development company, has secured a SAR 2 billion ($533 million) financing agreement with Riyad Bank for the development of the Four Seasons Resort at The Red Sea destination. The financing supports Red Sea Global's joint venture with Kingdom Holding Company. The Four Seasons Resort will offer 159 guest rooms and is part of the first phase of development, which includes 11 hotels and resorts, residential units, a golf course, a marina, and a retail complex. The Red Sea welcomed its first guests in 2023 and is set to have 50 resorts and over 8,000 hotel rooms upon completion in 2030. This debt financing agreement will contribute to the progress of the Saudi Mega-Project in Jeddah, which aims to transform the city into a world-class tourist destination and generate significa...
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