Red Sea Project CEO Says It Will Carry Debt Over 10 Billion Riyals

The video discusses a major development project in Saudi Arabia, often compared to the Maldives. The project focuses on creating a unique destination with diverse topography and features. Key efforts include building infrastructure with a focus on renewable energy and preparing for tourist arrivals by 2022. The project is backed by the Public Investment Fund and offers opportunities for foreign investors through public-private partnerships. The financial strategy involves raising commercial debt, with a focus on sustainable development and setting new standards.

What is the expected timeline for welcoming the first tourists?

How much funding is anticipated for the project, and what are the sources?