[ad_1]
Saudi Arabia is investing billions of US {dollars} by its sovereign wealth fund’s leisure firm to spice up the dominion’s choices within the leisure and sights market.
The Saudi Leisure Ventures (SEVEN), an entirely owned subsidiary of the Public Funding Fund (PIF), is about to spend a complete of SAR 50 billion ($13.3 billion) to develop 21 leisure locations that can function 150 sights throughout 14 cities in Saudi Arabia, in keeping with an announcement on Wednesday.
The leisure firm has additionally secured partnerships with worldwide manufacturers, together with Warner Bros, to deliver international sights to the dominion.
Development of one of many locations deliberate in Saudi Arabia, estimated to price SAR 3 billion, has already began and it’ll rise within the Al Hamra district of Riyadh. The location can have a built-up space of 167,000 sq.m.
Except for the Saudi capital, the upcoming initiatives will likely be developed in Makkah, Jeddah, Dammam, Kharj, Taif, Khobar, Al Ahsa, Madinah, Yanbu, Abba, Jazan, Buraidah and Tabuk.
As a part of the plan, SEVEN will introduce a “new” leisure idea, with the assorted locations anticipated to supply sights, native and worldwide eating venues and lots of extra – all below one roof.
SEVEN confirmed that it has secured partnerships with international leisure firms, together with Clip ‘n Climb, Warner Bros. Discovery, Mattel and Hasbro to develop a few of the sights.
“We’re partnering with main leisure manufacturers and can proceed to take action to develop leisure locations like no different,” mentioned Abdullah AlDawood, Chairman of SEVEN.
“The bottom-breaking of our first vacation spot in Al Hamra district in Riyadh is a pivotal milestone and we’re excited to deliver unparalleled experiences to the folks and guests of the dominion.”
(Writing by Cleofe Maceda; modifying by Seban Scaria)
[ad_2]
Source link
