Saudi Arabia is investing billions of dollars in the travel and tourism sector through 2030, as it aims to emerge as a global tourist destination by the end of this decade.
According to a statement issued on Wednesday, Saudi Entertainment Ventures (Seven), a wholly-owned subsidiary of the Public Investment Fund (PIF), plans to invest $13.3 billion to build 21 entertainment destinations with 150 attractions in 14 cities in the kingdom.
The entertainment company has also formed alliances with major brands such as Warner Bros. to bring global attractions to KSA.
One of the proposed destinations in Saudi Arabia, projected to cost over $798 million, has already begun construction and will be built in Riyadh’s Al Hamra district. “It is a pivotal milestone, and we are excited to bring unparalleled experiences to the people and visitors of the kingdom,” said Abdullah AlDawood, Chairman of Seven.
Apart from Riyadh, new projects will be developed in Makkah, Jeddah, Dammam, Kharj, Taif, Khobar, Al Ahsa, Madinah, Yanbu, Abba, Jazan, Buraidah, and Tabuk.
Seven will provide a “new” entertainment concept as part of the proposal, said the company, with the various destinations set to offer attractions, local and international dining establishments, and much more under a single roof.
Seven has announced agreements with entertainment businesses such as Clip ‘n Climb, Warner Bros. Discovery, Mattel, and Hasbro to build some attractions.
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