RIYADH: Saudi Arabia’s ultra-luxury development project AMAALA has unveiled its new yacht design for the Triple Bay Yacht Club, as it expects to award SR1.2 billion ($320 million) in contracts for the ongoing development in the second quarter of the year.
The phase one construction of Triple Bay is progressing steadily, and it is expected to be completed by 2024, the company said in a press release. The yacht which will be a part of this project is designed by the American architecture firm HKS, and it is expected to have a size of 7,900 square meters, according to a statement.
Upon completion of the first phase, Triple Bay will have eight resorts, 1,300 hotel rooms, food and beverage outlets, retail, and leisure facilities.
“HKS has created a signature piece of architecture at the heart of Triple Bay, and I look forward to seeing the concept become a globally iconic meeting place for luxury yachting enthusiasts from all over the world,” said John Pagano, CEO of AMAALA.
More than 250 contracts have been awarded to date in excess of SR5 billion, with nearly SR1 billion awarded in the first quarter of this year alone, as delivery of the project ramps up on site.
AMAALA will be a purely off-grid destination, powered solely by renewable energy as the whole development is targeting a minimum Leadership in Energy and Environmental Design Gold standard for environmental sustainability, the company said. It added that a request for proposal for the Utilities under public private partnership has already been issued to the market, to ensure the development meets its sustainability ambitions.
