Istithmar Holding announces that its subsidiary in Saudi Arabia Elegancia Arabian Trading Company has acquired two new projects in the field of electrical and mechanical engineering in Shura Island, Kingdom of Saudi Arabia


Investment Holding Company Q.P.S.C. announced that its subsidiary “Elegancia Arabian Trading Company” in the Kingdom of Saudi Arabia has obtained a new package of works in the field of electrical and mechanical engineering for two additional hotels on the western side of Al-Shura Island with two hundred rooms for each hotel, in addition to the projects Which the company is implementing on the island, i.e. the middle hotel (430 rooms) and two hotels on the eastern side (150 and 180 rooms), bringing the number of projects obtained by the company to 5 projects on Al-Shura Island, the main island that is being developed by the Red Sea International Company in the Kingdom of Saudi Arabia.

The 11-resort project on the main island holds a LEED Platinum rating and boasts a built-up area of ​​88,269 square metres. 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 Company.

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

Red Sea International continues to set new standards in terms of environmental sustainability, as it contributes to the Kingdom’s focus on sustainability, which is evident in the Saudi Green Initiative and is 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 the global legacy of the Red Sea and supporting the realization of the Saudi national vision.

This project requires partners with long experience in the field, a shared vision to do better and the ability to challenge the business status quo.

The Elegancia Arabian Trading Company in Saudi Arabia, a subsidiary of the Investment Holding Group Q.P.S.C., expressed its happiness to have the opportunity to play a role in completing and working on this unique project, which is a new gateway to exploring the rich diversity and hospitality that characterizes Kingdom of Saudi Arabia, bringing the number of projects being implemented to 5 resorts


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