Saudi Arabia's PIF-backed Seven plans theme park, cinemas
Crown Prince-backed Saudi Entertainment Ventures unveils seven leisure projects for Dammam, Khobar, Eastern Province
Saudi Entertainment Ventures (Seven), a subsidiary of Saudi Arabia’s Crown Prince HRH Mohammed Bin Salman-led Public Investment Fund (PIF), has unveiled seven entertainment development projects, including a theme park and three cinemas, to be constructed in the kingdom as the country's Vision 2030 economic diversification mandate continues to move future revenue sources away from oil.
True to its name, Seven's seven projects include plans to build a 1km² amusement park, three leisure and sport-style complexes in Dammam and Khobar, and a trio of cinemas in the Eastern Province.
The string of leisure projects will play a major role as Seven, created in 2018 to transform entertainment in the kingdom by developing contemporary leisure projects, presses ahead with its construction agenda.
On 23 April, HRH Prince Ahmed bin Fahd bin Salman bin Abdulaziz, deputy governor of the Eastern Region, and a number of senior officials, inaugurated an infrastructure package for the seven entertainment projects.
على مساحة مليون متر مربع، ستعمل #مشاريع_الترفيه_السعودية على إنشاء مدينة ملاهي ترفيهية والتي ستعمل على إحداث نقلة نوعية في مستوى الخيارات الترفيهية المقدمة على مستوى المملكة العربية السعودية pic.twitter.com/CFkHXC5Ogn— SEVEN مشاريع الترفيه السعودية (@EntertainKSA) April 23, 2019
News of the projects comes after Construction Week revealed that US project management consultancy, Hill International, had submitted bids for prominent cultural and entertainment buildings projects in the kingdom.
Engineering and fit-out firm Cundall, which has been active in the UAE cinema space, has already confirmed it wants to “demonstrate its expertise” to Seven as the UK company eyes opportunities in Saudi.
These developments come as Saudi Arabia implements social and economic reforms to attract millions more tourists and create a stronger economy in which the private sector has a bigger role to play.