Saudi Arabia’s Red Sea Global plans ultra-luxury resort in Italy

Saudi developer Red Sea Global plans to launch its first overseas project in Italy, marking a major step in the company’s expansion beyond its luxury resorts along Saudi Arabia’s Red Sea coast.

Backed by the Public Investment Fund, RSG has been central to Crown Prince Mohammed bin Salman’s Vision 2030 strategy to diversify the Saudi economy through high-end tourism.

“Our ambitions are beyond just the Saudi Arabian market,” CEO John Pagano said at the Reuters Next conference in Abu Dhabi on Wednesday. “That’s done, done, done, done.” 

Pagano said that since its inception seven years ago, the company has awarded about 18,000 contracts for its domestic developments and plans to open 17 more resorts in Saudi Arabia by May 2026. The Italy project, for which Pagano provided few details, will build on RSG’s sustainability-focused model and is intended as a springboard for further international ventures in Europe and beyond.

In Paris, meanwhile, Prince Bader bin Abdullah bin Farhan, the Saudi Minister of Culture and Governor of the Royal Commission for AlUla, met on Wednesday with French Culture Minister Rachida Dati. The two announced plans to create a Saudi section in the refurbished Pompidou Center, which is set to reopen in 2030. Under the agreement, Saudi Arabia’s Royal Commission for AlUla will contribute $58 million to support the museum’s renovation.

The partnership builds on broader Saudi-French collaboration to develop the Museum of Contemporary Art in AlUla, an ancient desert city in Saudi Arabia and UNESCO Heritage Site. A joint program running through 2030 will highlight modern and contemporary Saudi artists while encouraging collaboration between cultural professionals in both countries.