Businesses are under more pressure than ever to show integrity in how they operate and keep purpose and sustainability front of mind.
Strong and effective governance is an essential component in ensuring businesses work in the right way, contributing to both commercial performance and social and environmental good. This builds trust, strengthens reputation, and ensures an organisation is ethical across its operations.
Governance is – and must be – a priority for our entire workforce, from our senior leadership team down to the skilled workers on-site at our destinations.
Indeed, in August 2022, Red Sea Global was recognised as Saudi Arabia’s first company to qualify for the ISO 37000, a standard that applies to all areas of a business’s operations, not just its governance department. Developed by experts and trusted voices from a wide range of organisations in over 70 countries around the world, ISO 37000 provides a single, globally accepted benchmark for good governance.
This achievement is a testament to our commitment to good governance, sustainability credentials, and the visionary approach we’re taking to setting new standards in regenerative tourism. At Red Sea Global, we pride ourselves on being one of the world’s most responsible developers, and environmental, and community considerations sit at the very heart of all our operations. Despite the complexities of current global challenges, we have continued to embrace an ethos of radical innovation – alongside transparent and stringent governance frameworks – to help drive better outcomes for people and the planet.
In 2021, for example, we released our Internal Control Toolkit, a guide to best practices in governance, for other organisations in Saudi Arabia to implement and benefit from as part of our Corporate Social Responsibility (CSR) efforts. The toolkit offers step-by-step guidance through the governance procedures that any business can roll out from day one and was downloaded by over 1,000 organisations.
As a multi-project developer behind some of the world’s most ambitious regenerative tourism destinations, this achievement is the latest milestone for Red Sea Global. Our first destination, The Red Sea, is on track to welcome its first guests in 2023, while our second, Amaala, is ramping up work on the ground to prepare for its first guests in 2024.
As this work progresses, and with further projects in the pipeline, we are committed to maintaining such high standards of governance that will hopefully serve as a benchmark for others in our industry.
Dr Maryam Ficociello
Dr Maryam Ali Ficociello is the Group Chief Governance Officer of Red Sea Global (RSG), the developer behind The Red Sea and Amaala, two ambitious tourism projects set along the north-western coast of Saudi Arabia. She provides definite direction in ensuring that RSG’s business is conducted with the highest ethical standards and is responsible for overseeing compliance monitoring and management programs across the organisation.
Before working at RSG, Maryam gained experience supporting a range of public and private organisations in Real Estate Development, Hospitality, Aviation, Defense, Media, Healthcare, Education, Manufacturing, and Construction. She has a PhD in Innovation and Organization Change from the London School of Economics and Political Science.
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