SAUDI ENTERTAINMENT VENTURES (SEVEN) ANNOUNCES LAUNCH OF PROJECTS IN THE EASTERN PROVINCE
Three Entertainment Destinations, Amusement Park and Six Movie Theatres
Riyadh and Los Angeles, CA – May 1, 2019 – Saudi Entertainment Ventures (SEVEN), a subsidiary of the Public Investment Fund, (PIF) announces the launch of its largest project to date, including its inaugural amusement park in Al Aziziyah, which will cover an area of 1 million square metres.
SEVEN also announced six movie theatres and three new entertainment destinations in the Eastern Province, where the amusement park will also be located.
The new entertainment destinations will be located in Dammam, Khobar and Al Ahsa and will feature sports areas, movie theatres, green areas and water sports facilities similar to the entertainment destination underway in Riyadh.
SEVEN is focusing on developing recreation and entertainment facilities in the Eastern Province, given its strategic tourism location, and a growing population of some 4.9 million people.
The entertainment destination in Dammam will cover an area of 330,000 square metres, the blueprint for nearby Khobar’s entertainment destination covers some 360,000 square meters.
Saudi Entertainment Ventures (SEVEN), Chairman Abdullah bin Nasser Al-Dawood says: “SEVEN intends to convert the Eastern Province into an excellent entertainment destination in the Gulf, thanks to its strategic geographical location and the touristic significance attributed to the Eastern Province within the Kingdom. Its stunning coasts, green oases and serene vast deserts, make it an attractive area for investment and development.”
Bill Ernest, CEO of SEVEN, says: “This raft of truly exciting announcements coming at the end of the Kingdom’s most exciting Sharqiyah Season gives everyone something to be excited about. SEVEN is heralding in a new era of entertainment and leisure facilities for the people of Saudi Arabia, and visitors. Our amusement parks and entertainment facilities will also need the best talent from across Saudi Arabia, so we are looking for ambitious, talented and energetic staff across all sectors.
Our strategy is to replicate amusement parks, entertainment areas and movie theatres across the Kingdom, starting in Riyadh, and now into the Eastern Province. We are providing families with unrivalled new entertainment experiences.”
SEVEN has already announced ambitious plans to develop Saudi Arabia’s nascent entertainment and leisure sector, starting with movie theatres, entertainment and recreation clusters and amusement parks. The company is developing the sector as part of the Saudi Arabia Vision 2030 plan.
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The Saudi Entertainment Ventures (SEVEN) Company was established by the Public Investment Fund (PIF) in December 2017. It is the first entity to obtain a license for operating movie theatres in the Kingdom. The company launched the first cinema in Saudi Arabia after more than 35 years in partnership with U.S. based AMC Group, the largest cinema operator in the world.
As the key investment arm for entertainment on a Kingdom-wide level, The Saudi Entertainment Ventures strategy and focus is the PIF commitment to making entertainment and local community lifestyle available across the Kingdom. The Company is planning to invest in the entertainment sector, increase expansion, diversify the service offering and raise the quality based on international standards, in addition to building capacity and developing local talent in the entertainment field across the Kingdom.
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