RSG Secures $1.73bln for Developing AMAALA Tourism Destination

Red Sea Global secures $1.73bn funding for AMAALA

Developer Red Sea Global (RSG) has secured a US $1.73bn credit facility specifically designed for the development of AMAALA. The funding initiative is led by Riyad Bank as the sole underwriter, with The Saudi Investment Bank (SAIB) and Bank AlBilad serving as mandated lead arrangers. The loan agreement incorporates a blend of conventional and Islamic financing, aligning with RSG’s Green Loan Framework. The framework was initially established whe…

RSG secures $1.73bln for developing AMAALA tourism destination

The facility includes a mix of conventional and Islamic financing

Red Sea Global secures credit to accelerate Amaala

Local banks underwrite and lead Conventional and Islamic tranches Amaala expected to open this year Red Sea Global, backed by Saudi Arabia’s Public Investment Fund, has secured a SAR6.5 billion ($1.7 billion) credit facility from local banks to accelerate the development of the Amaala tourism project. Riyad Bank acted as the sole underwriter, while the Saudi Investment Bank and Bank AlBilad served as mandated lead arrangers, the giga-project dev…