Tabuk Red Sea
The Red Sea Project, commonly referred to as The Red Sea, is a land and property megaproject in development in Saudi Arabia that is managed by Red Sea Global and forms part of the Saudi Vision 2030 program. The project was announced by the Saudi Crown Prince Mohammad bin Salman in July 2017, focusing on luxury and ecotourism to attract visitors to the Red Sea coast.
Construction began at The Red Sea in February 2019 and on completion in 2030 it is expected to increase the Saudi GDP by $5.86 billion per year. The first three hotels are expected to open in 2023 while phase one is expected to be completed in 2024, when 3,000 hotel rooms in 16 hotels will be constructed along with the Red Sea International Airport, a yachting marina, historical sites and recreation centers. It is capping visitors to one million people per year from 2030 onwards to prevent overtourism.