The Red Sea Project

The Red Sea Development Company (TRSDC), wholly owned by the Public Investment Fund (PIF) of Saudi Arabia and creator of The Red Sea Project, today announced its international Advisory Board of twelve world-leaders in business, tourism, environmental sustainability and conservation.

 

 

Located along the west coast of Saudi Arabia at the crossroads of the Middle East, Europe, Asia, and Africa, the project is envisioned as an ultra-luxury tourism destination for: 

 

It is part of Vision 2030, Saudi Arabia’s ambitious blueprint for the future.

 

“Utilizing this group of advisors to guide The Red Sea Development Company is crucial to creating a world-class project of this scale,” said John Pagano, Chief Executive Officer of TRSDC. “The collective expertise of this impressive group will help us to exceed the inspirational goals set for the tourism sector in Vision 2030.”

 

 

The members of the Advisory Board are:

 

-       Sir Richard Branson, Founder, Virgin Group – Sir Richard is a serial entrepreneur known for his ambitious forays with the Virgin Group, creating eight different billion-dollar companies in eight different sectors. Sir Richard’s experiences building Virgin Hotels, Virgin Holidays, Virgin Limited Edition, and Virgin Airways will inform the strategic implementation of many aspects of The Red Sea Project.

 

-       Steve Case, Chairman and CEO, Revolution – As the CEO of Revolution, an investment firm dedicated to building “built to last” businesses, Case has established a legacy for creating some of the strongest businesses in history. He revolutionized the Internet through AOL, and negotiated the largest merger in business history. Case will work with The Red Sea Project’s executive team to bring transformative business management to the project.

 

-       Philippe Cousteau Jr., Co-Founder and President, EarthEcho International – Cousteau Jr. is a multi Emmy-nominated TV host, author, speaker and social entrepreneur. He advises on best practices for social and environmental sustainable development and through his non-profit, EarthEcho International, prepares the next generation to solve the environmental challenges the world faces.

 

-       Carlos Duarte, Professor, Red Sea Research Center – Duarte’s leadership in biological oceanography and marine ecology will serve to inform conservation at utmost scientific level. His Red Sea expertise, and versatility as a world-leading marine ecologist, makes him a core part of the environmental protection initiative behind The Red Sea Project.

 

-       J. Carl Ganter, CEO, Vector Center - Ganter is an expert on water security who focuses on the intersections and impacts of changing water, food, and energy resources globally. His experience with Vector Center's data analysis, contextualization, and reporting will help guide The Red Sea Project’s leadership on risk identification and mitigation, investment, and environmental and sustainability initiatives.

 

-       Paul Holthus, Founder, President, and CEO, World Ocean Council – At the World Ocean Council, Holthus is responsible for a global multi-industry leadership alliance blending private sector interests and market forces to develop practical solutions for achieving ocean sustainability. Holthus will advise on best practices in business-led marine environmental management and sustainable development.

 

-       Aradhana Khowala, CEO & Founder, Aptamind Partners – Khowala’s accomplishments in travel, tourism and hospitality will lend valuable insight into building and scaling the project. Her appreciation for tourism as a force of good will help bring together luxury hospitality and environmental conservation together with community engagement for The Red Sea Project.

 

-       Sven-Olof Lindblad, CEO, Lindblad Expeditions – Lindblad’s experience in building world-class expeditions, particularly marine-focused trips aboard intimate ships, is an excellent resource for The Red Sea Project. Lindblad’s work with National Geographic and his understanding of cultural nuance in remote regions of the world will help inform the project’s vision, development planning and guest experiences.

 

-       William McDonough, Founder, William McDonough and Partners – McDonough brings a wealth of experience relating to environmental design and sustainable development.  McDonough is a leading environmental thought leader of our time, the co-author of Cradle to Cradle: Remaking the Way We Make Things, and a strategic advisor to many of the world’s largest firms. He brings invaluable perspective to all environmental facets of the project.

 

-       Frits Dirk van Paasschen, Senior Advisor, TPG Capital – Investment and business expert, van Paaschen has a strong understanding of consumers’ mindset, industry disruption and sustainability. His experience as the former CEO of Starwood Hotels and in the C-suite of various Fortune 500 companies will provide important counsel to The Red Sea Project.

 

-       Vijay Poonoosamy, Director  of International and Public Affairs, QI Group – Poonoosamy is also President of the Hermes Air Transport Organisation. He started his career as an Aviation Lawyer in London, was the Managing Director of Air Mauritius, the Executive Chairman of Airports of Mauritius and the Vice President International and Public Affairs of the Etihad Aviation Group.  He has served on the Board of Directors of the US Travel Association, the Board of Governors of the International Aviation Club and as Chairman of IATA’s Industry Affairs Committee. Poonoosamy will be vital for planning transportation to the Red Sea.

 

-       Sonu Shivdasani, CEO and Joint Creative Director, Soneva – Often referred to as the founder of Six Senses, Shivdasani is an experienced hotelier who has built and prepared some of the most luxurious and environmentally pioneering hotels in the world. Shivdasani’s work in addressing environmental challenges for imaginative projects will provide valuable counsel to The Red Sea Project to steer it in an environmentally conscious direction.

 

 

The Red Sea Development Company was incorporated on 10th May, 2018, as a closed joint-stock company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia and will drive the development of The Red Sea Project, an ultra-luxury destination for nature, adventure, wellness and culture, located along the west coast of Saudi Arabia, at the crossroads of the Middle East, Europe, Asia, and Africa.

 

Announced on 31st July, 2017, by His Royal Highness Mohammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, and Chairman of the Council of Economic and Development Affairs and of PIF, The Red Sea Project will be developed around several unique treasures:

 

 

 

providing an ideal environment for partnerships with leading international investors. The number of hotel rooms and residential units which the project will ultimately deliver will be determined by the project’s environmental parameters. The annual number of visitors will be capped to protect the unique environment and enhance the visitor experience.

 

Completion of phase one is anticipated by the last quarter of 2022.

 

The Public Investment Fund (PIF) of Saudi Arabia seeks to become one of the largest and most impactful sovereign wealth funds in the world, enabling the creation of new sectors and opportunities that will shape the future global economy, while driving the economic transformation of Saudi Arabia. As part of PIF’s position as the engine behind economic diversification in Saudi Arabia, a number of giga-projects, which will support large-scale economic ecosystems, have been launched, of which The Red Sea Project is one.