Red Sea Project
is a land and property development announced by the Saudi Crown Prince Mohammad bin Salman
in July 2017. It is planned to be established on the Saudi Arabian Red Sea
coast. The project is focused on tourism, hoping to attract tourists to visit and explore the Saudi western coast.
The mega project is expected to increase the Saudi GDP
by $5.86 billion per year upon completion, when it will cover 28,000 km2
(11,000 sq mi) of islands, beaches, desert, mountains and volcanic areas.
The first phase is expected to be completed by 2022 when 3,000 hotel rooms will be constructed along with an airport
, marina and recreation centers.
The project is led by the Red Sea Development Company (TRSDC).
It is expected to attract one million people every year.
Upon completion, the project will create 70,000 new jobs.
However, the project raises new challenges about water consumption, as Saudi Arabia
consumes each year four times the water that is naturally renewed, while the resorts will use more than 56,000 cubic meters of water per day.
Power is to be supplied by 210 MW of solar and wind power, with fluctuations balanced by a 1000 MWh battery.