Istithmar Holding announces the acquisition of a business package for three hotels in the Red Sea


Investment Holding Company Q.P.S.C. announced that its subsidiary “Elegancia Arabian Trading Company” has acquired the MEP package for the Central Hotel (430 rooms) on Al Shura Island and two hotels on the eastern side of the island (150 and 180 rooms). The three resorts are part of 11 resorts under construction on the Red Sea’s main island hub in the Kingdom of Saudi Arabia.

The project holds a LEED Platinum rating and has a built-up area of ​​88,269 square meters. It represents one of the largest developments in the Kingdom and a flag bearer for renewable tourism worldwide. The Red Sea project is the first tourism project of its kind and size, to be designed and built to be powered by renewable solar energy in line with the strict responsible commitments of the Red Sea International Corporation.

Elegancia Arabian Trading Company is committed to adopting innovative, energy-efficient and environmentally friendly solutions throughout the performance of its award-winning MEP package business, in line with industry-leading guidelines in LEED Energy and Environmental Design certification.

Red Sea International continues to set new standards as it contributes to the Kingdom’s focus on sustainability, which is evident in the work of the Saudi Green Initiative and an integral part of the goals of Vision 2030. The ongoing construction work, supported by a renewed approach to tourism development, is an important part of building a legacy Global Red Sea and support the realization of the Saudi vision.

This requires experienced partners, who share the same vision to choose to do better and challenge the status quo of business as usual. At this juncture “Elegancia Arabian Trading Company” and Investment Holding Group Q.P.S.C. (Qatar) are pleased to have the opportunity to play our part in presenting this unique project and creating a new gateway to explore the rich diversity and hospitality that characterizes the Kingdom of Saudi Arabia. .

This project represents a major step in Istithmar Holding’s expansion in the Kingdom of Saudi Arabia.

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