An ultra-luxurious destination on Saudi Arabia's northwestern coast of the Red Sea will have its own regulatory structure as it targets UHNWIs. The Amaala resort in the Prince Mohammed bin Salman Nature Reserve will be focused upon wellness, healthy living and meditation. It is being dubbed the "Riviera of the Middle East", with initial funding provided by the kingdom's Public Investment Fund (PIF), which is spearheading the project. Farah Zafar, chief legal officer at the Public Investment Fund KSA, said: "We're probably targeting the top 2.5 million ultra-high net worth individual l...
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