30 October 2019
The developers of Saudi Arabia's Red Sea tourism project have awarded the design contract for a new airport that will serve the luxury destination after a competitive tendering process.
The Red Sea Development Company (TRSDC), backed by Saudi Arabia's sovereign fund, PIF, said in a press statement that Foster + Partners was awarded the design contract for the international airport, which is expected to serve one million annual tourists and visitors by 2030.
"Awarding the contract for the design of our airport is an important milestone and the first of the underlying infrastructure projects of the destination," the statement quoted TRSDC's CEO John Pagano as saying.
It said the airport, which is due for completion in 2022, would have a peak capacity of 900 passengers per hour.
The company looks forward to collaborating with "Foster + Partners and their engineering sub-consultant, WSP Global" to develop "an innovative design that will enhance the visitor experience, meet our sustainability goals and enable us to deliver an airport for the future," Pagano said.
On Tuesday, Reuters reported that TRSDC is seeking a loan of more than 10 billion Saudi riyals ($2.67 billion) from four to five local banks to finance tourism projects
The statement noted that apart from a dedicated airport, the first phase of the development will include up to 15 hotels offering 3,000 hotel rooms across five islands and two inland sites, as well as commercial, retail and leisure facilities and other infrastructure. Upon completion in 2030, the destination will deliver up to 8,000 hotel rooms across 22 islands and six inland sites.
(Writing by Anoop Menon; Editing by Seban Scaria)
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