Red Sea Global expands overseas with Sardinia resort

Saudi Arabia’s Red Sea Global is developing its first overseas destination, an island resort at Santo Stefano off the coast of Sardinia.

The Public Investment Fund-controlled developer holds a 90% stake in Santo Stefano Resort, while the remaining share is owned by Re.vo, a real estate investment firm controlled by members of the Benetton family.

The resort, which had been shuttered for years, is being brought under RSG’s management as the company expands beyond its Saudi projects, Arabian Gulf Business Insight reports.