Crystal Lagoons enters the largest country in the Middle East, Saudi Arabia, with a new deal to develop real estate, hospitality, and Public Access Lagoons, also called PAL, projects. The development plan consists of several luxury complexes, which will be located in coastal and inland cities such as Riyadh, as well as Jeddah, Dammam, Medina, and Khobar.
The multinational innovation company, founded by scientist Fernando Fischmann, has partnered with A’amal Group, a major holding company with interests in the investment, hospitality, real estate & energy development across the Middle East, Asia and Africa. The company’s Founder & CEO Yassin Al Suroor, is also the Founder & CEO of DANA investment, specialized in the digital economy. He is a board member of several regional and international companies, as well as nonprofit global organizations.
With the new partnership with A’amal Group, Crystal Lagoons consolidate its presence in the Middle East, where it already has ongoing projects in the UAE, Egypt, Israel, Palestine and Oman. In fact, the world’s two largest crystalline lagoons are located in the Middle East: District One in Dubai (30 hectares) and Citystars Sharm El Sheikh in Egypt (12.8 hectares).
“I am very pleased to announce this strategic alliance between A’amal Group and Crystal Lagoons, and the potential that it holds for Saudi Arabia. We believe that this partnership follows our vision for the future, and are confident that working in synergy will lead to the development of unique destinations throughout the country.” Said Yassin Al Suroor, President & CEO of A’amal Group
At the center of these PAL developments are large crystalline lagoons suitable for swimming and water sports, surrounded by white sandy beaches, which are open to the public for a fee. The complexes also have commercial areas, restaurants, weddings, hotels, concert venues, terraces, amphitheaters, etc.
“Closing a strategic partnership like this for 10 PAL projects in Saudi Arabia is a milestone that validates our uniqueness and added value as a brand. It also shows that the Crystal Lagoons concept and technology can bring idyllic beaches anywhere in the world, even to the middle of the desert, and create unique tourism opportunities,” said Alastair Sinclair, Regional Director of Crystal Lagoons.
Crystal Lagoons experienced record global expansion in 2022 with its PAL projects. The company entered over 15 new markets and closed mega business deals in countries including Japan, Australia, India, Israel, Palestine, among others.
Read more on innovation company:
ADFD supports AI Industries boosting UAEs global stand in Advanced Technology
Crayon Data and Visa partnership powers AI-led Personal Digital Storefronts
GS1 marks half a century of Revolutionizing Global Business Standards
