Building Momentum: Red Sea International Lands $54M Facilities Deal as Neom's Mountain Resort Advances

Amid mounting pressure on delivery timelines, Saudi Arabia’s ambitious Neom project continues to draw major contracts. Red Sea International, a Tadawul-listed modular building and services firm, has secured a SAR203 million ($54 million) integrated facilities management agreement with Webuild, the Italian construction giant overseeing critical infrastructure at Trojena.

The Deal and Its Scope

The two-year contract encompasses comprehensive operations and maintenance services for both the main and spike camps supporting the Webuild Trojena Dam Project. According to the stock exchange filing, financial implications are slated to commence in the first quarter of 2026, with services aligned to Neom’s established worker welfare standards. This represents a significant win for Red Sea International’s specialized facilities management capabilities.

Trojena’s Complex Ambitions

Trojena stands as a centerpiece within the broader Neom giga-project ecosystem, envisioned as a year-round alpine destination sprawling across 1,400+ square kilometres at elevations ranging from 1,500 to 2,600 metres. The resort would feature 30 kilometres of ski slopes and an extensive artificial snowmaking network, with water sourced from over 200 kilometres away near the Gulf of Aqaba.

Mounting Delivery Challenges

The contract signing arrives amid intensifying scrutiny about Trojena’s ability to host the 2029 Asian Winter Games on schedule. Construction delays have sparked discussions about alternative hosts, with the Olympic Council of Asia reportedly engaging South Korean authorities regarding contingency arrangements. These concerns reflect broader questions about staging winter sports in a desert landscape.

The Wider Investment Landscape

Saudi Arabia’s $1 trillion Public Investment Fund (PIF), the primary engine for flagship ventures including the $500 billion Neom initiative, has signalled a recalibration of spending priorities across its portfolio. The fund’s pending 2026-2030 strategy, expected to centre on six “ecosystems” with Neom as a standalone priority, underscores the kingdom’s commitment to these giga-projects despite execution challenges.

Webuild’s Expanding Saudi Footprint

Beyond Trojena’s dam system and artificial lake infrastructure, Webuild is executing multiple high-profile contracts within Saudi Arabia’s mega-projects corridor. The company is developing The Bow luxury hospitality complex, constructing the Connector high-speed railway segment (57 kilometres between Oxagon and The Line), and continuing work on Riyadh Metro Line 3 and Diriyah facilities.

The Red Sea International contract exemplifies how Saudi Arabia’s giga-project ecosystem continues attracting specialized service providers, even as industry observers closely monitor whether Trojena can meet its ambitious timeline for 2029.