Al Ras al Abyad
In 2017, THR was selected to participate in Saudi Arabia´s National Transformation Programme which encompassed a set of 13 initiatives. THR was requested to assist in the development of the Al Ras and to extended over 6 million sqm of environmentally sensitive coastal area in Al Rais (Madinah province). THR was engaged together with a large engineering firm to elaborate the development plan of Al Ras Al Abyyad (ARAA).
Special focus was placed on the multi-faceted benefits of a new tourist destination while diversifying economic development, thus balancing population distribution in favour of remote areas outside of large cities. Moreover, unlike giga projects, mostly focused on attracting the international luxury market, the ARAA positioning is midscale and upper midscale targeting primarily Saudi and GCC markets.
THR structured the methodology of the project in 5 phases:
— Demand analysis and projection model to set the potential demand and analyse the present market situation of the considered components.
— Resort concept and development programme to determine how to promote and differentiate the ARAA site, thus increasing attractiveness.
— Business model for public-private partnership to determine a more detailed concept and sizing of the proposed components.
— Financial feasibility to analyse the required investment and feasibility of the development.
— Socio-economic impact to measure the impact on local population.
The resulting value offering for the client included:
— Revamped development plan that took into consideration the unique natural landscape of beach areas, wetlands, and reefs through economic, social, and environmental development plan scenarios.
— Enhanced understanding of the site opportunities and constraints by overlaying key physical features with sensitive zones onto the development plan.
— Guiding principles for land use to protect the flora and fauna of the environment
— Mix of components (leisure, wellness, edutainment, etc.) that incorporated insights from the market assessment and inspirations from international benchmarks.
— Tourist demand projections focusing on the Leisure and After-Umrah tourist segments
— Development programme and phasing strategy
— Business model for investment and operations based on public-private partnership
— Economic and financial feasibility projections and assessment
— Socio-economic impact assessment