THE RED SEA DEVELOPMENT COMPANY
28,000sq kms
of land mass , including a
3,500sq km
archipelago
Williamson joined as the ninth employee , and TRSDC ’ s workforce is now up to 1,500 . The MasterPlan was signed off in November 2018 , which was followed by an intensive design period . So far over SAR13bn of work has been contracted which , when you factor in a PPP contract too , totals more than SAR18bn overall .
“ Everyone ’ s surprised that we ’ ve built quite a lot , as we ’ ve been constructing and designing in parallel . It ’ s what sets us apart .
We ’ re contracting at a rate of close to SAR1bn a month until we ’ ve completed the project buy out ,” he said .
Along with juggling design and build , a ‘ construct-and-manage ’ approach provides direct access to the best subcontractors . “ That means we haven ’ t got dependency over one or two contractors – who often have limited control over – and eliminate some of the mark ups ,” he said .
82 February 2022