John Pagano, the former head of development at Canary Wharf, has been appointed by the Public Investment Fund in Saudi Arabia to be the head of The Red Sea Development Company (TRSDC) its newly established company that will lead development of a new tourism destination between the cities of Al-Wajh and Umluj.

Larger than the European country of Belgium, it is hoped that development of the area will create 35,000 jobs and contribute generate $4 billion for the local economy.  In a change of approach to tourism in the Kingdom, overseas visitors will be able to apply for visas on arrival with TRDSC creating its own Special Economic Zone.

“The destination will provide a unique sense of place for visitors and offer nature lovers, adventurers, cultural explorers and guests looking to escape and rejuvenate, a wide range of exclusive experiences, combining luxury, tranquillity, adventure and beautiful landscapes,” Pagano has told local media.

Speaking at the US Saudi embassy in New York, during Crown Prince Prince Mohammed bin Salman’s visit to the city, Pagano added: “The defining characteristics of the Red Sea project are 50 of the most beautiful islands, and what I would argue is the most best coral reef in the world.”