{"id":101729,"date":"2025-10-23T00:00:00","date_gmt":"2025-10-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/"},"modified":"2025-10-23T00:00:00","modified_gmt":"2025-10-23T00:00:00","slug":"red-sea-global-to-launch-its-first-luxury-project-in-italy-soon","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/","title":{"rendered":"Red Sea Global to launch its first luxury project in Italy soon"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, everyone, and happy THURSDAY<\/strong><span style=\"background-color: transparent;\">. Business is still calm in the Kingdom, as companies and investors are gearing up for a packed next week that will the Future Investment Initiative forum hosted in Riyadh, as well as a Federal Reserve meeting that\u2019s widely expected to deliver another rate cut.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading this morning\u2019s news well:<\/strong> BMI sees our GDP growth accelerating to 4.1% in 2026, construction costs held steady in September according to Gastat\u2019s data, and the earnings season is picking up more steam with Arab National Bank, Mobily, Sipchem and more out with their 3Q results. Let\u2019s dive in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Dust in the air: <\/strong>Blustery winds are set to whip up dust and sand across the eastern parts of Makkah and Madinah today, keeping skies hazy. Fog may roll into parts of the Eastern Region and along Makkah\u2019s southern coast by nightfall.<\/p>\n<ul>\n<li><strong>Riyadh: <\/strong>33\u00b0C high \/ 20\u00b0C low,<\/li>\n<li><strong>Jeddah:<\/strong> 37\u00b0C high \/ 26\u00b0C low<\/li>\n<li><strong>Makkah:<\/strong> 39\u00b0C high \/ 28\u00b0C low<\/li>\n<li><strong>Dammam: <\/strong>35\u00b0C high \/ 21\u00b0C low.<\/li>\n<\/ul>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> #1- <\/strong><strong>PIF-owned <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.redseaglobal.com\/en\/\" style=\"\" rel=\"noopener\">Red Sea Global<\/a><\/strong><strong> is set to launch its first luxury project in Italy <\/strong><strong>soon<\/strong>, marking its first international expansion, CEO John Pagano told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudis-red-sea-global-will-launch-luxury-project-italy-ceo-tells-reuters-2025-10-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> on the sidelines of the Reuters Next Gulf Summit in Abu Dhabi. Pagano \u2014 who was granted Saudi citizenship <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f35397e7-ad3b-426c-b37d-46b1f0f25a49\/slowdown-reportedly-hits-aramco%25e2%2580%2599s-expansion-projects,-pif%25e2%2580%2599s-ipo-plans\" style=\"\" rel=\"noopener\">earlier this month<\/a> \u2014 is also joining the board of Neom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Red Sea Global <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/18d79c98-ab8f-4ad3-a4fa-c6556a731251\/%253cmark%253ered-sea-global%253c%2Fmark%253e-will-take-over-sindalah-tourist-island-from-neom\" style=\"\" rel=\"noopener\">will reportedly<\/a> take over the Sindalah tourist island from the Neom project. The move frees Neom, which is reportedly undergoing a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12e0076f-2c22-49ca-872f-b1d2c0a1c8d1\/\" style=\"\" rel=\"noopener\">\u201ccomprehensive review,\u201d<\/a> reassessing budgets and progress of various developments facing headwinds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> <strong>The Royal Commission for AlUla plans to roll out around SAR 6 bn worth of <\/strong><strong>projects <\/strong><strong>for private sector participation<\/strong>, Chief Tourism Officer Phillip Jones told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-heritage-site-offer-investors-projects-worth-16-billion-2025-10-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> in the summit. About 21 projects will be launched by early next year as part of efforts to attract private investment to the UNESCO World Heritage site, which drew 300k visitors last year and is targeted for 1 mn by 2030, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An IPO could come by the end of the decade<\/strong>, although the talks are still in very early stages, Jones said. AlUla was not affected by recalibration programs and has secured funding for the next five years as it moves into the second phase of its development plan, he added.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #2- <\/strong><strong>State-backed investor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/svc.com.sa\/en\/\" style=\"\" rel=\"noopener\">Saudi Venture Capital (SVC)<\/a><\/strong><strong> plans to dedicate half of its <\/strong><strong>investments to private credit and equity<\/strong>, compared to about a third in 2024, CEO Nabeel Koshak tells <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-22\/saudi-fund-with-3-billion-mandate-plans-boosting-private-credit\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. SVC, which Bloomberg notes \u201cprimarily acts as a fund of funds,\u201d will allocate the remaining balance of its investments to back venture funding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company invested about USD 300 mn per year over the past two years and plans to <\/strong><strong>maintain its pace in 2026<\/strong>, Koshak said. It has a mandate to invest USD 3 bn by 2030 to develop the financing ecosystem for startups and SMEs in the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strategy shift comes as the operating conditions also evolve:<\/strong> Saudi companies, particularly SMEs, are increasingly exploring new financing options as tightening liquidity conditions make it more difficult to access traditional capital through banks, making room for private credit. \u201cPrivate credit specifically is at the nascent stage, so we also plan to do more to raise awareness on how it actually complements filling the gap on SME financing,\u201d Koshak said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> SVC has been ramping up its private credit and equity investments over the past months. The company has backed Janus Henderson\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ff1ff224-449b-40dc-9d24-718210228fb8\/sidf,-svc-anchor-janus-henderson%25e2%2580%2599s-mena-fund\" style=\"\" rel=\"noopener\">USD 125.5 mn<\/a> MENA Private Credit Fund IV, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2a59b5e6-2077-4e0b-b160-938143e7fa35\/sidf-and-ashmore-launched%253cmark%253e-saudi%253c%2Fmark%253e%25e2%2580%2599s-first-industrial-private-equity-fund\" style=\"\" rel=\"noopener\">invested<\/a> in Artal Capital\u2019s private equity fund, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e02cf125-7435-4951-89f7-d8f02cf7b627\/svc-backs-jadwa-investment%25e2%2580%2599s-sar-2-bn-pe-fund\" style=\"\" rel=\"noopener\">poured<\/a> an undisclosed sum into Jadwa Investment\u2019s Jadwa GCC Private Equity Fund 1. It has also previously made a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/864b14fe-aead-4d39-9893-f13082fc2c08\/svc-invests-in-general-atlantic-fund.-plus:-telecoms,-financial-services-and-earnings\" style=\"\" rel=\"noopener\">SAR 112.5 mn<\/a> investment in a fund managed by US-based private equity giant General Atlantic.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> #3- <\/strong><strong>The Kingdom eyes Australian expertise and investments in mining <\/strong><strong>during the <\/strong><strong>Saudi-ANZUK Forum in Riyadh<\/strong>, along with strengthening trade and investment relations with New Zealand and the UK, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-21\/saudi-arabia-lures-macquarie-rinehart-in-courtship-of-australia\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported on Tuesday. The four countries also plan to diversify their trade channels amid the ongoing tariff friction during the two-day forum that wraps up today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mutual benefits: <\/strong>\u201cAustralia has what we need in terms of know-how and capacity building,\u201d Bloomberg quotes Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Al Mudaifer as saying in an interview in Sydney. Meanwhile, Australia seeks to expand its export markets away from the Chinese market \u2014 its primary export market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A budding relation:<\/strong> Saudi Arabia and Australia\u2019s bilateral trade rose to USD 1.4 bn in 2024, compared to USD 1.2 bn in 2019. The Public Investment Fund has also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1583f0cc-4446-4d65-92a8-8dac28d2e282\/pif-taps-usd-bond-market-amid-high-investor-demand\" style=\"\" rel=\"noopener\">partnered<\/a> with Sydney\u2019s Macquarie Asset Management to ramp up investments in infrastructure, energy storage, and EVs. Meanwhile, Australia\u2019s Hancock Prospecting and Ma\u2019aden <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/07e8f346-a060-4a04-bff5-eedba6fcd1c7\/nine-mining-licenses-awarded\" style=\"\" rel=\"noopener\">are digging<\/a> together for metals in Makkah\u2019s Nabitah Al Duwaihi belt. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a> #4- Syria is planning to launch an international investment roadshow in the next <\/strong><strong>few<\/strong><strong> months to attract <\/strong><strong>capital <\/strong>from the Gulf, Europe, and the US as it seeks to rebuild its war-battered economy, Economy Minister Mohammad Nidal Al Shaar said on the sidelines of the Future Resilience Forum in London, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-21\/syria-plans-roadshow-within-months-as-it-seeks-investment-boost\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The roadshow would come following the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/88a0e3d4-6d27-462f-8aea-9958db7c5bbd\/this-morning:-uae-president-to-attend-gcc-us-summit-in-riyadh\" style=\"\" rel=\"noopener\">easing of US sanctions<\/a>, which came into effect <a target=\"_blank\" href=\"https:\/\/www.state.gov\/releases\/office-of-the-spokesperson\/2025\/06\/termination-of-syria-sanctions\" style=\"\" rel=\"noopener\">earlier this year<\/a>, and ahead of parliamentary formation, which would pave the way for new investor-friendly legislation, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil and gas is in focus<\/strong>, with Al Shaar floating the idea of working with GCC investors as Syria looks to rebuild its production lines to fuel industry and manufacturing. Currently, militant action in production fields in the northeast is hampering revival efforts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> <strong>Saudi investors have been among the first to explore a return to Syria<\/strong>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/18411345-7979-4883-9f07-013d3b363d4b\/saudi-companies-sign-sar-bns-in-agreements-with%253cmark%253e-syria%253c%2Fmark%253e%25e2%2580%2599s-businesses\" style=\"\" rel=\"noopener\">inking SAR 24 bn in agreements<\/a> during a Damascus-hosted investment forum earlier this year, though Al Shaar noted that the country needs significantly more capital to fund its reconstruction. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong>Saudi Arabia is poised to benefit from unstable geopolitical trends in trade<\/strong> \u2014 namely protectionism and tariffs, DHL Group CEO Tobis Meyer told Bloomberg (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2025-10-22\/meyer-saudi-arabia-to-benefit-from-geopolitical-trends-video\" style=\"\" rel=\"noopener\">watch, runtime: 05:45<\/a>). The firm has high hopes for the region \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5f5bf05f-0c92-4a6e-a9d0-bb0d6137dbda\/aviagen-to-reportedly-invest-over-usd-200-mn-in-saudi-poultry-hub.-plus:%253cmark%253e-dhl%253c%2Fmark%253e-plans-to-invest-over-eur-500-mn-in-the-middle-east\" style=\"\" rel=\"noopener\">earmarking<\/a> over EUR 500 mn for it over the next five years, with a focus on Saudi and the UAE, with a focus on expanding warehousing and distribution capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ball\u2019s already rolling:<\/strong> DHL eCommerce finalized its acquisition of a minority stake in Saudi Arabia-based AJEX Logistics Services <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/475bac7d-4b6b-4dbc-9f94-d02c9d1afadf\/saudi-hong-kong-investment-ties-get-a-boost\" style=\"\" rel=\"noopener\">in August<\/a>. A joint venture between Saudi Aramco and freight giant DHL was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e34d1efc-e785-47ae-bee1-fea07bc33192\/it%25e2%2580%2599s-back-to-school-season\" style=\"\" rel=\"noopener\">reportedly shopping<\/a> for investors to back a USD 267 mn distribution center project in the Kingdom earlier this year.<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Consumer spending via point-of-sale (PoS) transactions in the Kingdom went down 9.0%<\/strong> <strong>w-o-w in the week ending 18 October,<\/strong> reaching SAR 12.2 bn, according to Saudi Central Bank\u2019s <a target=\"_blank\" href=\"https:\/\/www.sama.gov.sa\/en-US\/Indices\/POS_EN\/POS_Report_18_Oct_2025.pdf\" style=\"\" rel=\"noopener\">latest weekly report (pdf).<\/a> The number of transactions also declined 6.1% w-o-w to 222.7 mn during the week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Food and beverage accounted for the largest share of spending, declining 6.8% w-o-w to just above SAR 1.9 bn, followed by restaurants and cafes, which slipped 9.3% w-o-w to just above SAR 1.5 bn. Education spending witnessed a dip of 31.2% w-o-w to SAR 105.1 mn. Aviation was the sole activity that inched up during the week, rising 2.0% w-o-w to SAR 48.9 mn<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh recorded the highest value of PoS transactions at SAR 4.4 bn,<\/strong> followed by Jeddah at SAR 1.7 bn.<\/p>\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia's crude oil exports increased by some 413k bbl \/ d to 6.4 mn bbl \/ d in<\/strong> <strong>August<\/strong>, according to Jodi <a target=\"_blank\" href=\"https:\/\/www.jodidata.org\/oil\/database\/customisable-charts.aspx#cdSaudi\" style=\"\" rel=\"noopener\">data<\/a>. Exports of refined petroleum products dropped by 163k bbl \/ d to 1.59 mn bbl \/ d. Crude inventories dropped by 1.5 mn barrels, reaching 143.8 mn barrels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crude production also rose by 521k bbl \/ d to reach 9.722 mn bbl \/ d<\/strong>, while local demand dropped by some 222k bbl \/ d, reaching 2.78 mn bbl \/ d. Meanwhile, direct crude burn also edged down to 607k bbl \/ d.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, and the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> industry?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US has sanctioned Russia\u2019s two biggest oil companies<\/strong>, Roseneft and Lukoil, in a bid to ramp up pressure on the Kremlin to end the war in Ukraine. The move comes a day after a planned summit between the US and Russia to discuss a potential ceasefire was shelved, and is the first time US President Donald Trump imposes Ukraine-related sanctions on Russia since his second term began. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/us-hits-top-russian-oil-companies-with-sanctions-eu-bans-russian-lng-2025-10-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/bessent-u-s-to-impose-substantial-sanctions-on-russia-84132054?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7bcc7206-db12-4aab-b84d-7e02e1a1400f\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/oct\/22\/us-sanctions-russia-oil-vladimir-putin-refusal-ukraine-war\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EU also approved a package of sanctions<\/strong> that includes a ban on Russian liquefied natural gas imports from 2027, a year earlier than planned. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-22\/eu-russia-sanctions-that-hit-lng-imports-to-be-adopted-thursday\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/eu-approves-19th-package-russian-sanctions-including-lng-ban-2025-10-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Oil jumped USD 2 on the news, with Brent Crude futures rising to USD 64. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO GETTING ATTENTION- Tesla\u2019s<\/strong> <strong>net income in 3Q 2025 fell short of analysts\u2019 expectations<\/strong>, despite a boost in sales that drove revenues higher, as CEO Elon Musk cited tariffs and elevated research costs as challenges. Its shares fell 4% on the news. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/tesla-q3-earnings-updates-investors-hone-elon-musks-outlook-after-new-model-3-y-2025-10-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2025\/oct\/22\/tesla-earnings-report-latest-drop-profits\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/tesla-tsla-q3-earnings-report-2025-653ea365\" style=\"\" rel=\"noopener\">WSJ<\/a>) <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: SVC to dedicate half of its investments to private credit and equity<\/p>\n","protected":false},"author":1,"featured_media":101730,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2540],"tags":[10,181,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam-ksa","tag-red-sea-global","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"8be497ae-839a-4750-81ec-82bae0b505ee","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/10\/1208.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Red Sea Global to launch its first luxury project in Italy soon","related_issue":[101727],"teaser":"PLUS: SVC to dedicate half of its investments to private credit and equity","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.7fecc3ed-7877-4073-b117-efb51dfbbabb.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Red Sea Global to launch its first luxury project in Italy soon - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Red Sea Global to launch its first luxury project in Italy soon\" \/>\n<meta property=\"og:description\" content=\"PLUS: SVC to dedicate half of its investments to private credit and equity\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-23T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Red Sea Global to launch its first luxury project in Italy soon\",\"datePublished\":\"2025-10-23T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/\"},\"wordCount\":1587,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM KSA\",\"Red Sea Global\",\"WHAT WE\u2019RE TRACKING TODAY\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TODAY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/\",\"name\":\"Red Sea Global to launch its first luxury project in Italy soon - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-10-23T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Red Sea Global to launch its first luxury project in Italy soon\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Red Sea Global to launch its first luxury project in Italy soon - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/","og_locale":"en_US","og_type":"article","og_title":"Red Sea Global to launch its first luxury project in Italy soon","og_description":"PLUS: SVC to dedicate half of its investments to private credit and equity","og_url":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/","og_site_name":"KSA","article_published_time":"2025-10-23T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Red Sea Global to launch its first luxury project in Italy soon","datePublished":"2025-10-23T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/"},"wordCount":1587,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM KSA","Red Sea Global","WHAT WE\u2019RE TRACKING TODAY"],"articleSection":["WHAT WE\u2019RE TRACKING TODAY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/","url":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/","name":"Red Sea Global to launch its first luxury project in Italy soon - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1","datePublished":"2025-10-23T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/23\/red-sea-global-to-launch-its-first-luxury-project-in-italy-soon\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Red Sea Global to launch its first luxury project in Italy soon"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1208.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/101729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=101729"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/101729\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/101727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/101730"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=101729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=101729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=101729"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=101729"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=101729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}