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Global pacts on green tourism vital for sustainability, hears London summit

LONDON: Tourism and hospitality officials from around the world gathered for a summit in the British capital to explore ways to manage, operate, and develop a trusted and sustainable tourism and hospitality industry with a focus on alleviating harm to the environment.

Saudi Arabia s Red Sea mega-tourism project taps $3 76b in green funds

Four leading Saudi banks participate in first riyal-denominated green financing The Red Sea project is aiming for a complete transformation of an hitherto undeveloped location in the Kingdom. Image Credit: Supplied Dubai: A Saudi tourism project has secured one of the biggest ‘green’ financing to date – at a whopping 14.12 billion ($3.76 billion). The Red Sea Development Co. (TRSDC) will use these funds to part-finance its project – one of the Kingdom’s biggest tourism-focussed projects. Green financing is given to those projects that are built with social and environmental sustainability frameworks. In fact, this is the first Saudi riyal-denominated credit facility to receive a green financing accreditation. The funding is structured as a term loan and revolving credit facility from four Saudi banks - Banque Saudi Fransi, Riyad Bank, Saudi British Bank and Saudi National Bank.

Foster + Partners to create ring-shaped hotel on stilts in Saudi Arabia

Foster + Partners to create ring-shaped hotel on stilts in Saudi Arabia Dezeen 21/02/2021 © Provided by Dezeen Red Sea Project hotel by Foster + Partners The Red Sea Project has revealed images of a Foster + Partners-designed hotel, which is set to be built on a Saudi Arabian island within the Red Sea. Currently named Ummahat AlShaykh Hotel 12, the resort was designed by British architecture studio Foster + Partners as part of The Red Sea Project. The project will see an archipelago of 90 undeveloped islands between the cities of Umluj and Al Wajh on the west coast of Saudi Arabia turned into what the developers are billing as the world s most ambitious tourism development .

For Saudi Arabia, tourism ambitions are all giga in scale

Dubai: Check out the west and north-western parts on Saudi Arabia’s map. Come back in about a decade’s time to have a re-look. Chances are that you will not be able to recognise it as the Kingdom reshapes an entire region as part of its tourism development roadmap. A sizeable portion of that will come in the form of the Red Sea Project, spanning a mind-boggling 28,000 square kilometres. A size and scale that go way beyond a ‘mega’ definition. Welcome then to one of Saudi Arabia’s “giga-projects” in the making. “The giga-projects are part of a broader and more long-term diversification programme, which was already seeing the Kingdom open up and welcome tourists from all over the world,” said John Pagano, CEO of The Red Sea Development Company

Foster + Partners designs Coral Bloom resort on Saudi Arabian island

Foster + Partners designs Coral Bloom resort on Saudi Arabian island The Red Sea Project has revealed images of a resort designed by Foster + Partners to blend in with the natural environment of a Saudi Arabian island within the Red Sea. Coral Bloom will be made up of 11 hotels on the dolphin-shaped island of Shurayrah, which is part of a chain of 90 undeveloped islands off the west coast of Saudi Arabia that are being developed as part of The Red Sea Project. Foster + Partners is designing 11 hotels on the island of Shurayrah Informed by the forms of native Saudi Arabian flowers and coral, the resort was designed to be a hub for the wider development and one of the first places that tourists visiting the development will see.

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