Red Sea Global, the company behind a major tourism destination on Saudi Arabia’s Red Sea coast is considering a possible public market offering as soon as 2026, the CEO said in comments reported by Bloomberg.
“There will be some kind of public market event, whether it’s an initial public offering, whether it’s an establishment of a REIT, those are things that we’re currently studying,” John Pagano, chief executive of Red Sea Global, said in an interview in Dubai, according to Bloomberg.
Per Bloomberg:
“The firm is in early talks with banks and stakeholders, Pagano said, without disclosing details on advisers, banks or valuation. An offering is likely by 2026 or 2027 once the hotels have been operational for about two years, with a track record of occupancy, cash flow and profitability. The main focus now is to establish a revenue stream that helps underpin value, he said.”
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