The Saudi Minister of Culture, Prince Badr bin Abdullah Al Saud, representing the Red Sea Collection by the Public Investment Fund and Prince Albert II of Monaco have signed a Framework Agreement to seal an agreement of shared interests and objectives regarding sustainable development and conservation.
The signing of the agreement took place during The Red Sea Collection’s sponsorship of the Monte-Carlo Gala for the Global Ocean, which last year raised over $14m for the Foundation’s marine conservation initiatives.
Safeguarding marine biodiversity
Saudi PIF unveils new uber-luxury destination project ‘Amaala’. (Supplied)
Nicholas Naples, CEO of Amaala, one of the Red Sea Collection projects said: “The Monaco Yacht Show is the perfect platform for us to show-case the Red Sea Collection future offerings to the superyacht industry, sailing lovers and seekers of ultra-luxury tourism in the Rea Sea, one of the world’s pristine paradises, and participation of the Red Sea Collection underpins our commitment to responsible development.”
The Red Sea Collection has further emphasized its support for the Prince Albert II of Monaco Foundation by taking on the role of Presenting Sponsor of the Monte-Carlo Gala for the Global Ocean featuring a dinner, charity auction and after party, attracting a distinguished guest list to raise vital funds to preserve the world’s oceans.
The Red Sea Collection
The luxury destination project ‘Amaala’. (Supplied)