Jeddah, April 17, 2020, SPA -- As part of our masterplan, Phase One of the Project will see the construction of Coastal Village. Our partner HUTA Hegerfield and Saudconsult, will land raising and ground improvement for the 1.5 million square meter Coastal Village area. This will house the workers, staff and management of The Red Sea Project, and will include corporate offices, housing and high-end facilities. Teams on the site are currently raise the ground level to 3.5m above sea level. Every day, we transfer some 10,000m3 of earth and compact about 7,000m2 of land. The Coastal Village will be home to 14,000 employees from The Red Sea Project community when the first phase of the destination opens and we will provide the highest quality accommodation and a wide range of facilities, whilst meeting our own stringent environmental standards. The Red Sea Project Features and Location • 28,000 square kilometers total area including 200km of coastline • An archipelago of more than 90 pristine islands • Nature reserves and protected areas • One of the few thriving coral reefs in the world • The world’s fourth largest barrier reef system • Year-round temperate climate with an average temperature of 25°C • Strategic location: within 3 hours flying time of 250 million people and 8 hours flying time for 80% of the world’s global population • 500km north of Jeddah Project Timeline • The Red Sea Project will welcome its first visitors by the end of 2022 and will be fully completed by 2030. • Construction began in February 2019, with the development of the base camp. • The initial phase of the project includes up to 14 luxury hotels providing almost 3,000 rooms across five islands and two inland locations. • The initial phase will also include leisure and lifestyle amenities a dedicated airport as well as the necessary supporting logistics and utilities infrastructure. • Development is underway for key infrastructure, including the construction of a 3.3 km crossing from the mainland to Shurayrah Island; a 100-hectare landscape nursery that will provide more than 15 million plants by 2030 and the construction village that will house workers on the site. • Further contracts have been signed for the Coastal Village, management hotel and land levelling. • Project Ownership • The Red Sea Project was launched on the 31st July 2017. The Red Sea Development Company was incorporated as a standalone entity on 10th May 2018, to spearhead the development of The Red Sea Project, and is wholly owned by the Public Investment Fund (PIF) of Saudi Arabia. • The Project is earmarked by PIF as a significant driver of domestic and foreign direct investment, offering a truly unique opportunity for investors to be part of the travel industry’s next major luxury global travel destination. --SPA 20:39 LOCAL TIME 17:39 GMT 0021 www.spa.gov.sa/w1308887