The Saudi Minister of Culture, His Highness Prince Badr bin Abdullah Al Saud, representing the Red Sea Collection by the Public Mutual Fund and HSH Prince Albert II of Monaco have authorized a Structure Arrangement to secure an arrangement of shared rate of interests as well as objectives concerning lasting advancement as well as conservation.
The finalizing of the contract occurred during The Red Sea Collection's sponsorship of the Monte-Carlo Gala for the Global Sea, which last year increased over $14m for the Foundation's marine preservation efforts.
The Framework Agreement officially acknowledges the common purposes of the Prince Albert II of Monaco Structure and also The Red Sea Collection, in regard to sustainable advancement as well as marine preservation. The agreement will certainly pave the way for an exchange of info and know-how to help secure marine biodiversity and also protect reef, along with battle the expanding problem of plastic pollution.
His Highness Prince Badr container Abdullah Al Saud said: "This agreement underlines our commitment to create one of the most ingenious, lasting and forward-thinking projects for Saudi Arabia. The excellent reef, thriving marine life and also unblemished landscapes are just what make this area so unique, as well as The Red Sea Collection is devoted to making sure these functions are provided the utmost protection."
Nicholas Naples, CEO of Amaala, among the Red Sea Collection tasks said: “The Monaco Yacht Show is the perfect platform for us to show-case the Red Sea Collection future offerings to the superyacht industry, sailing lovers and seekers of ultra-luxury tourism in the Rea Sea, one of the world’s pristine paradises, and participation of the Red Sea Collection underpins our commitment to responsible development.”
The Red Sea Collection has further emphasised its assistance for the Royal prince Albert II of Monaco Foundation by taking on the role of Presenting Sponsor of the Monte-Carlo Gala for the Global Sea featuring a supper, charity public auction and after event, attracting a recognized visitor list to increase vital funds to protect the world's oceans. The Red Sea Collection is created from three Saudi giga-projects, Amaala, NEOM, and also The Red Sea task.
Standing: HSH Prince Albert II of Monaco (left), HH Prince Badr bin Abdullah Al Saud, the Saudi Minister of Culture (right) attending the signing ceremony between Red Sea Collection by The Public Investment Fund of Saudi Arabia and Prince Albert Foundation. A Framework Agreement on sustainability and marine conservation aims.
Sitting: H.E. Mr. Bernard Fautrier – Vice President and CEO of the Prince Albert II of Monaco Foundation, and Mr. Nicholas Naples (CEO Amaala - The Public Investment Fund)