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TRSDC named ‘Developer of the Year’

JEDDAH, January 28, 2021

The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regeneration tourism project, has been named “Developer of the Year” at the Big Projects Middle East Awards 2020.
 
TRSDC won two awards at the awards, held on January 26 at the Ritz Carlton JBR in Dubai.
 
Following an extensive judging process that covered more than 140 nominations, TRSDC was named “The Developer of The Year” in recognition of the significant progress made at the new destination and the exceptional work undertaken to set new standards, particularly in sustainability and environmental regeneration in and around the area of its flagship project, said a statement.
 
“We are honoured to be named The Developer of the Year in this year’s edition of Big Projects Middle East Awards. This is a prestigious accolade which has previously crowned many landmark organisations and projects around the region,” said John Pagano, CEO of TRSDC.
 
“We are also happy to see a greater focus being placed on rewarding sustainable and responsible development, which is a growing trend around the world, particularly in the wake of the Covid-19 pandemic. At TRSDC we firmly believe that development does not need to be at the expense of nature and the natural habitat,” he added.
 
TRSDC was also awarded the Excellence in Health and Employee Safety award for their Covid-19 Health and Safety Plan, celebrating their efforts to maintain the health and safety of their workforce during the pandemic, whether onsite or at their headquarters.
 
Dubox by Amana, a subsidiary of Amana Investments, won the Sustainability Project of The Year for its sustainability efforts on the Coastal Village development at The Red Sea Project.
 
Riad Bseibes, CEO of Amana Investments, said: “We are delighted to win this significant award for our work on The Red Sea Project, which demonstrates our commitment from the outset to progress this project in a sustainable fashion with like-minded stakeholders in order to protect this pristine destination and its unique habitats.”
 
The Coastal Village is currently under development with Amana Investments involved in both the residential housing and the three-star management hotel, which is set to open by the end of Q2 2021. The village will provide accommodation, office space, and supporting civil amenities to around 14,000 employees who will eventually operate the destination. 
 
TRSDC’s commitment to regenerative tourism is underpinned by a master plan that predicts a 30 percent net conservation benefit by 2040. Only 22 islands of more than 90 will be developed, leaving 75 percent untouched and a further nine islands designated as special conservation zones, it said.
 
Late last year TRSDC announced that it is creating the world’s largest battery storage facility to enable the entire site to be powered by renewable energy 24 hours a day, including the island sites.
 
Upon completion in 2030, The Red Sea Project will comprise 50 hotels, offering up to 8,000 hotel rooms and around 1,300 residential properties across 22 islands and six inland sites. The destination will also include a luxury marina, entertainment, and leisure facilities. – TradeArabia News Service 



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