SEVEN To Invest SAR 50 Billion To Develop Unique Entertainme...| MENAFN.COM

Thursday, 02 February 2023 06:07 GMT

SEVEN To Invest SAR 50 Billion To Develop Unique Entertainment Destinations Across 14 Cities In Saudi Arabia


(MENAFN- Mid-East.Info)
  • By establishing 21 entertainment destinations across 14 cities and creating unique experiences with over 150 attractions, SEVEN will enrich the lives of people in Saudi Arabia
  • SEVEN has begun construction of its first entertainment destination in Al Hamra, Riyadh
  • SEVEN has partnered with global entertainment brands to provide world-first entertainment attractions

Riyadh, Saudi Arabia: Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Public Investment Fund (PIF), has announced its commitment to invest SAR 50 billion to develop 21 integrated entertainment destinations with over 150 innovative attractions, in partnership with prominent international brands, across 14 cities in Saudi Arabia. Construction of SEVEN's first entertainment destination in the Al Hamra district of Riyadh has begun. 

The announcement comes at the same time as rapid growth within the Saudi entertainment sector, and the country's efforts to consolidate the position of the sector in order to diversify sources of income, create jobs, contribute to raising the quality of life for citizens and residents, and improve the ranking of Saudi cities among the best cities globally.

SEVEN will introduce a new concept in the world of entertainment; its destinations will offer various experiences including a wide range of entertainment attractions, a variety of local and international dining outlets and many more – all under one roof. SEVEN has also secured partnerships with leading global entertainment companies, including Clip 'n Climb, Warner Bros. Discovery, Mattel for its Hot Wheels brand and Hasbro for its Transformers and Play-Doh brands, to develop world-first entertainment attractions. 

Abdullah AlDawood, Chairman, SEVEN , said:“SEVEN is redefining the future of entertainment in Saudi Arabia through our 21 entertainment destinations across 14 cities with more than 150 world-class attractions that enhance the quality of life for the people of Saudi Arabia. We are partnering with leading entertainment brands and will continue to do so to develop entertainment destinations like no other. The ground-breaking of our first destination in Al Hamra district in Riyadh is a pivotal milestone and we are excited to bring unparalleled experiences to the people and visitors of the Kingdom.”

He added:“We believe that the entertainment sector in Saudi Arabia is full of opportunities and plays an important role in the growth of the local economy. It also forms a strong basis for creating jobs and is a strong driver for a large number of other economic sectors including the local tourism sector. We will provide opportunities for local SMEs, develop Saudi talent, localise technical expertise and transfer knowledge through our global partnerships.”

SEVEN's entertainment destination in Al Hamra, which has an investment value of more than SAR 3 billion, is set on a land area of ​​more than 90,000 square metres with a built-up area of ​​167,000 square metres and occupies a strategic location at the intersection of the Eastern Ring Road and King Abdullah Road. SEVEN Al Hamra is expected to attract 6 million visitors per year by providing world-leading entertainment attractions.

SEVEN has awarded Shapoorji Pallonji, one of the largest engineering, procurement, and construction conglomerates in the region, to undertake the construction and management of the project. The agreement was signed by Abdullah AlDawood, Chairman of SEVEN, and Vidya Sagar, Vice President of Shapoorji Pallonji, at a ceremony held at the SEVEN Al Hamra site. 

M.D. Saini, Managing Director and CEO of Shapoorji Pallonji , said:“Saudi Arabia, through Vision 2030, has ambitions to become one of the best places to live and visit in the world. We at Shapoorji Pallonji feel honoured that SEVEN chose to partner with us on this ambitious and path-breaking venture. We are already executing multiple projects in Saudi Arabia and this project will certainly add significantly to our business portfolio and further establish our long-lasting legacy in Saudi Arabia.”

SEVEN Al Hamra will feature many of SEVEN's signature entertainment experiences including an indoor hubless wheel, Wave House indoor surfing, a 10-lane bowling alley, indoor skydiving, an indoor karting racetrack, as well as cinemas, restaurants, cafes, international retail stores and fitness.

SEVEN's entertainment destination in Al Hamra will also be home to numerous world-first entertainment attractions developed through global partnerships, including a Discovery indoor adventures centre , an edutainment attraction offering a world of exploration, play and education; Clip 'n Climb , featuring 40 unique climbing challenges for all ages; and a Transformers themed ride-based attraction, offering highly immersive experiences.

SEVEN has partnered with leading companies in their fields to design these entertainment destinations including AOA, CallisonRTKL in collaboration with Thinkwell, WME and Ellis Don.

SEVEN's entertainment destinations are strategically located to serve the wider population of Saudi Arabia, ensuring that they are easily accessible by all. The upcoming projects will be located in Riyadh, Kharj, Makkah, Jeddah, Taif, Dammam, Khobar, Al Ahsa, Madinah, Yanbu, Abha, Jazan, Buraidah, and Tabuk. 

Saudi Entertainment Ventures, a wholly owned subsidiary of PIF, is mandated to invest in, develop, and operate entertainment destinations and create a sustainable entertainment sector that caters to the needs of all in Saudi Arabia, in accordance with the highest and latest international standards.

About SEVEN:

Saudi Entertainment Ventures (SEVEN) was established by the Public Investment Fund (PIF) to serve as the investment and development arm for the entertainment sector – a key pillar of the ambitious social and economic plans undertaken in the Kingdom.

SEVEN is enhancing the quality of life for millions of people in Saudi Arabia by improving the choice and quality of entertainment offerings within the Kingdom and developing local talent and capabilities in the entertainment industry.

SEVEN partners with some of the world's most recognisable brands to build world-class entertainment infrastructure in Saudi Arabia. 

The new entertainment ecosystem developed by SEVEN will include 21 entertainment destinations located across 14 cities, supporting PIF's strategy to develop the local entertainment and tourism sectors.

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