12(ish) months later, Ras Banas is back on the block

Ras Banas is on deck to become a new Red Sea tourist destination. Senior government officials are finalizing a master plan for the sale of Ras Banas in 2026 and are now in the “final stages” of drafting the investment blueprint for the strategic Red Sea headland, a government official with knowledge of the process tells EnterpriseAM.

Don’t expect a single “megasale” on the order of Ras El Hekma or Alam Al Roum. We’re told that once the cabinet signs off, the remote southeastern coastal zone will be sliced into specific projects and offered to investors “sequentially” throughout 2026. The bet: The sum of the parts will net more for state coffers than selling it in one go to a deep-pocketed developer.

The details: The plan envisions a mixed-use destination anchored by tourism, hotels, and residential projects. Our source declined to say how much officials hope to net from the transaction.

The state has already fixed a major infrastructure headache: The recent conversion of nearby Berenice Airport to civilian use was the clearest signal yet that the area is being prepped for high-traffic international tourism.

Why it matters: This puts hard details behind interest we’ve tracked since last fall, when reports first surfaced of potential Saudi investment in the area. While a Saudi bid may yet come through, we think it more likely that developers from the UAE and Qatar will be among the first to express interest.