PIF’s Red Sea Collection signs marine conservation pact with Monaco

Prince Albert II of Monaco (left), Prince Badr bin Abdullah Al Saud, Saudi Minister of Culture (right) attending the signing ceremony by Bernard Fautrier, VP and CEO of the Prince Albert II of Monaco Foundation, and Nicholas Naples, CEO, Amaala - PIF. (Supplied)

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 

The Framework Agreement formally acknowledges the shared aims of the Prince Albert II of Monaco Foundation and The Red Sea Collection, in relation to sustainable development and marine conservation. The agreement will pave the way for an exchange of information and expertise to help safeguard marine biodiversity and protect coral reefs, as well as combat the growing problem of plastic pollution.

Prince Badr bin Abdullah Al Saud said: “This agreement underlines our commitment to create the most innovative, sustainable and forward-thinking projects for Saudi Arabia. The pristine coral reefs, thriving marine life and untouched landscapes are what make this region so special, and The Red Sea Collection is committed to ensuring these features are given the utmost protection.”

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 Red Sea Collection is formed from three Saudi giga-projects, Amaala, NEOM, and The Red Sea project.

The north-western coast of Saudi Arabia is one of the world’s last truly untouched locations, both at sea and on land. It will soon feature a trio of exceptional destinations: Red Sea, NEOM and Amaala; created in total harmony with the region’s pristine coral reefs, vibrant marine life and beautiful mountain landscapes.

Combining unmatched luxury with superlative levels of service, the collection offers a blueprint for next-generation sustainable living and leisure on an unprecedented scale.

A constellation of resort experiences encompassing islands, beaches, deserts and mountains along the western coast, The Red Sea Collection will offer ultimate experiences including yachting, an arts and culture hub and a comprehensive wellness community.

Last Update: 19:24 KSA 22:24 - GMT 19:24