The multi-project award heralds the growth of the region’s world-class regenerative tourism focus
Qatar-based Estithmar Holding has announced that its subsidiary, Elegancia Arabia Trading Company, has been awarded the MEP package works contract for three hotel projects on Shura Island, which is part of the Red Sea project.
According to a statement, the contract award includes the Prestigious Central Hotel, a 430-key property as well as two other properties (respectively, 150- and 180-key) on the eastern side of the island. Overall, this portion of the Red Sea project features a built-up area of 88,269sqm, which is said to mark it as a flag-bearer for regenerative tourism worldwide.
The Red Sea project is billed as the first tourism enterprise of its type, size, and magnitude, to be designed and build off-grid, solely powered by renewable solar energy in line with the stringent commitments of Red Sea Global (RSG).
“Elegancia Arabia Trading is committed to adopting innovative, energy-efficient, and environmentally friendly solutions throughout our performance of the awarded MEP package works, aligned with industry-leading guidance in the energy and environmental design LEED certification,” said a company spokesman.
In late March 2023, Red Sea Global awarded contracts for Amaala’s Marina Village and, in early April, the developer appointed ILF Consulting Engineers to implement a $1.5bn project.
According to RSG, the ongoing construction works, underpinned by a regenerative approach to tourism development, are a critical part of building its legacy and supporting the delivery of Saudi Vision 2030.
Estithmar’s spokesperson continued, “This necessitates experienced partners, who share the same vision for choosing to do better and challenging the status quo of the business-as-usual approach. At this juncture, we – along with Elegancia Arabia Trading – are delighted to play our part in the delivery of this unique development, creating a new gateway to explore the rich diversity and fabled hospitality of the Kingdom.”
The award of this project marks a major milestone for the expansion of Estithmar Holding in Saudi Arabia, he added.
In early April 2023, PKF Hospitality Group said Saudi Arabia represents the single biggest opportunity for hospitality and tourism.