Crystal Lagoons enters the largest country in the Middle East14 April, 2023 / News
With the mega-deal signed with A’amal Group to develop 10 Public Access Lagoons™, also called PAL™ complexes, real estate, and hospitality projects in Saudi Arabia, Crystal Lagoons consolidates its presence in the Middle East.
In this market, the multinational innovation company, founded by scientist Fernando Fischmann, has already 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).
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.
A’amal Group is 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.
“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.
“This master agreement 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, and Palestine, among others.