MIAMI, April 13, 2023 /PRNewswire/ — Crystal Lagoons enters the largest country in the Middle East, Saudi Arabia, with a new mega-deal to develop real estate, hospitality and Public Access Lagoons™ projects, also called PAL™, The plan The development consists of several luxury complexes, which will be located in coastal and Mediterranean cities such as Riyadh, as well as in Jeddah, Dammam, Medina and Khobar.
The multinational water innovation company, founded by scientist Fernando Fischmann, has partnered with A’amal Group, a major holding company with interests in investment development, hospitality, real estate and energy in the Middle East, Asia and Africa. The company’s founder and CEO, Yassin Al Suroor, is also the founder and CEO of DANA Investment, which specializes in the digital economy. He is a member of the board of directors of several regional and international companies, as well as global non-profit organizations.
With the new partnership with A’amal Group, Crystal Lagoons consolidates its presence in the Middle East, where it already has ongoing projects in the United Arab Emirates, Egypt, Israel, Palestine and Oman. In fact, the two largest crystalline lagoons in the world are located in the Middle East: District One in Dubai (40 hectares) and Citystars Sharm El Sheikh in Egypt (12.8 hectares).
“I am delighted to announce this strategic alliance between A’amal Group and Crystal Lagoons, and the potential it holds for Saudi Arabia. We believe this partnership follows our vision for the future and we are confident that working in synergy will lead to the development of unique destinations in across the country,” said Yassin Al Suroor, Chairman and CEO of A’amal Group
PAL™ developments have as their central element a large crystalline lagoon suitable for swimming and water sports, surrounded by white sand beaches, which are open to the public for a fee. The complexes also have commercial areas, restaurants, weddings, hotels, concert halls, terraces, amphitheatres, etc.
“Closing a strategic partnership like this for 10 PAL™ projects in Saudi Arabia is a milestone that validates our uniqueness and added value as a brand. It also demonstrates that the Crystal Lagoons® concept and technology can bring idyllic beaches anywhere in the world, even in the middle of the desert and create unique tourism opportunities,” said Alastair Sinclair, Regional Director of Crystal Lagoons.
Crystal Lagoons experienced a record global expansion in 2022 with its PAL™ projects. The company entered more than 15 new markets and closed mega deals in countries like Japan, Australia, India, Israel, Palestine, among others.
About Crystal Lagoons
Crystal Lagoons is an American company that has developed a technology that allows crystalline lagoons of unlimited sizes to be built and maintained at very low costs anywhere.
With more than 2,000 patents in 190 countries, its sustainable facilities use up to 100 times less chemicals and only 2% of the energy required by conventional pools. Bureau Veritas verified the water efficiency of the technology and concluded that a 1 Ha/2.5 ac lagoon uses 33 times less water than a golf course and 40% less than a park of the same size. Crystal Lagoons® amenities can use sea, fresh and brackish water, which is abundant and has no other use.
About A’amal Group
A’amal Group is a dynamic, transparent and socially responsible group that is committed to going the extra mile to boost the regional economy and build the future through environmentally friendly cutting-edge technologies and modern management principles.
A’amal Group strives to improve lives through its various business activities by establishing strategic alliances through renowned international companies with outstanding track records.
CONTACT: press@crystal-lagoons.com
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