Crystal Lagoons expands Middle East success with Saudi Arabia PAL™ projects02/08/2023
Crystal Lagoons enters the largest country in the Middle East, Saudi Arabia, with a new mega deal to develop Public Access Lagoons™, also called PAL™ projects, real estate and hospitality projects. There will be 10 high-luxury public access complexes, which will be located in coastal and inland cities such as the capital Riyadh, Jeddah, Dammam, Medina, Al Hufuf, Ta’if, etc.
The multinational innovation company, founded by scientist Fernando Fischmann, has partnered with the A’amal Group business conglomerate, affiliated with Saudi Arabia’s sovereign wealth fund. A’amal is a major holding company with interests in the oil, transportation, energy, security and engineering industries across the Middle East, Asia and Africa. The company’s CEO is a well-known businessman around the world, as well as a board member of several international organizations such as the International Chamber of Commerce, the G20 Executive Committee, and the United Nations Global Compact.
With these new projects, Crystal Lagoons consolidate its presence in the Middle East, where it already has ongoing projects in the UAE, Egypt, Israel, Palestine, and Oman. In fact, the world’s two largest crystalline lagoons are located in the Middle East: Dubai (40 hectares) and Egypt (12.5 hectares).
“Closing a mega commercial deal like this for 10 PAL™ projects in the Middle East’s largest country is a milestone for us that validates our uniqueness and added value. It also shows that the Crystal Lagoons® concept and technology can bring an idyllic beach lifestyle to anywhere in the world, even in the middle of the desert,” said Alastair Sinclair, regional director of Crystal Lagoons.
A central feature of PAL™ developments is a large crystalline lagoon that is suitable for swimming and practicing water sports and surrounded by white sandy beaches, which are open to the public for a fee. The complexes also have commercial areas, food halls, weddings, hotels, multi-stage concert venues, terraces, amphitheaters, etc.
Crystal Lagoons experienced record global expansion in 2022 with its PAL™ projects, reaching a total of 810 facilities under development worldwide. The company entered over 15 new markets and closed mega business deals in countries including Japan, Australia, India, Israel, Palestine, among others.
One of the attributes of Crystal Lagoons® technology is that it’s environmentally friendly. PAL™ projects could reduce 14 million tons in CO2 emissions, equivalent to 40% of the carbon footprint of the tourism and transportation industries
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