The Red Sea Development Company Announces Global Advisory Board

Riyadh, The Red Sea Development Company (TRSDC), wholly owned by the Public Investment Fund (PIF) of Saudi Arabia and creator of The Red Sea Project, today announced its international Advisory Board of twelve world-leaders in business, tourism, environmental sustainability and conservation.

The Advisory Board will help set The Red Sea Project's agenda to develop and implement a new international standard in environmental protection and restoration, sustainable development, innovation and luxury tourism. Located along the west coast of Saudi Arabia at the crossroads of the Middle East, Europe, Asia, and Africa, the project is envisioned as an ultra-luxury tourism destination for nature, adventure, wellness, and culture. It is part of Vision 2030, Saudi Arabia's ambitious blueprint for the future.

Utilizing this group of advisors to guide The Red Sea Development Company is crucial to creating a world-class project of this scale, said John Pagano, Chief Executive Officer of TRSDC. The collective expertise of this impressive group will help us to exceed the inspirational goals set for the tourism sector in Vision 2030.

The members of the Advisory Board will serve multifunctional roles when working with TRSDC's Board of Directors and Executive Team. They will also advise the Board of Directors of TRSDC, led by His Royal Highness Prince Mohammad bin Salman bin Abdulaziz, Crown Prince, Vice President of the Council of Ministers, Minister of Defense , and Chairman of the Council of Economic and Development Affairs and of PIF. Collectively the Advisory Board members will call on their broad experiences to suggest best practices across an array of disciplines; connect potential investors and partners to the opportunities offered by the luxury travel industry one of the fastest growing global economic segments; and serve as ambassadors of the project to raise its profile globally.

Advisory Board members first met in New York City in March 2018 to provide initial feedback on the project's direction. They met again in Saudi Arabia in July to visit The Red Sea Project's unique marine and land ecosystems, and to provide further input on development and sustainability strategies.

TRSDC's Advisory Board is playing a fundamental role in the development of the project, Pagano said. The insights and advice that we gather from the Board are extremely valuable in assessing and tailoring the effectiveness of our current plan. This will enable us create something truly unique for our guests and for the people of Saudi Arabia, as we set new international standards for protecting, preserving, restoring and providing access to a unique experience at this site for generations to come.

The members of the Advisory Board are:

Sir Richard Branson, Founder, Virgin Group Sir Richard is a serial entrepreneur known for his ambitious forays with the Virgin Group, creating eight different billion-dollar companies in eight different sectors. Sir Richard's experiences building Virgin Hotels, Virgin Holidays, Virgin Limited Edition, and Virgin Airways will inform the strategic implementation of many aspects of The Red Sea Project.

Source: Saudi Press Agency