Sindalah Island in NEOM Secures USD800m Boost for Luxury Tourism Development
Date
5/16/2023 4:41:43 AM
(MENAFN) Sindalah Island, a luxurious tourist destination located within the NEOM giga-project in Saudi Arabia, has received a significant boost of SR3 billion (USD800 million) through a partnership with Riyad Bank. The development project, which was introduced by Saudi Crown Prince Mohammed bin Salman in December, aims to establish Sindalah Island as the first high-end marine tourism destination within NEOM. The funding deal, announced by Riyad bank via a tweet, aligns with the Kingdom's vision of attracting $1 trillion in investments to the tourism industry and welcoming 100 million annual tourists by 2030.
The infusion of funds from Riyad Bank will contribute to the development of Sindalah Island, which is expected to generate approximately 3,500 job opportunities in the tourism, hotel, and leisure sectors. Travelers are anticipated to begin visiting the island in early 2024. Crown Prince Mohammed bin Salman expressed his excitement about the project, stating that it marks a significant moment for NEOM and represents a substantial stride toward realizing the Kingdom's tourism ambitions outlined in Vision 2030. He described Sindalah as NEOM's inaugural luxury island and yacht club destination in the Red Sea, envisioning it as a captivating tourism hotspot that will attract visitors from the region and beyond.
Due to its strategic location, Sindalah Island has already become a favored stopover for boat and yacht owners from both regional and European areas. Situated within close proximity to the Mediterranean Sea, the island offers convenient access to various sailing sites via the Suez Canal, allowing travelers to reach multiple destinations within a day. With its picturesque surroundings and promising developments, Sindalah Island is poised to become an alluring gateway to the Red Sea, captivating visitors with its exceptional charm and amenities.
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