Red Sea Global is a closed joint-stock company that is wholly owned by the Public Investment Fund, which serves as the sovereign wealth fund of Saudi Arabia. Established as a key strategic pillar of the nation's Vision 2030 economic roadmap, the organization is chaired by Crown Prince Mohammed bin Salman. Its overarching mandate focuses on driving economic diversification away from fossil fuel dependency by building world-class, eco-friendly luxury tourism destinations that set new global standards in sustainable development.