SEVEN Invests Over 50 Billion Riyals to Develop Unique Entertainment Destinations in the Kingdom

Riyadh, Nov 29, 2022, SPA -- The Saudi Entertainment Ventures (SEVEN), wholly owned by the Public Investment Fund (PIF), announced its intention to invest more than 50 billion riyals with the aim of establishing and operating 21 full-service entertainment destinations that include more than 150 unique entertainment areas in 14 cities around the Kingdom of Saudi Araia as the company starting construction work in Its entertainment destination is at "Al-Hamra" district in Riyadh. This announcement comes in conjunction with the rapid growth being witnessed by the entertainment sector throughout the Kingdom, and the efforts seeking to consolidate the sector's position as a basic pillar for diversifying sources of national income, creating jobs, and contributing to raising the quality of life for citizens and residents, in addition to supporting the empowerment of Saudi cities to obtain a better position among global cities. The Chairman of the Board of Directors of SEVEN, Abdullah bin Nasser Al-Daoud, confirmed that they are working to contribute to building the future of the entertainment sector by developing and operating more than 21 entertainment destinations in 14 cities around the Kingdom, which will enhance unique experiences for the residents of the Kingdom, and cooperate with the most famous company in the world in the field of entertainment. He added, "We believe that the entertainment sector in the Kingdom is full of opportunities, and its role in the local economy is growing, and that it constitutes a solid basis for job creation, as it is a strong engine for many other economic sectors," pointing out that they will work to provide many opportunities for local small and medium companies, and develop Saudi competencies, localizing technical expertise and transferring knowledge through global partnerships, and continuing to build unparalleled entertainment destinations and areas. SEVEN has started construction work for one of its entertainment destinations located at "Al-Hamra" district in Riyadh, with an investment of more than 3 billion riyals as the new project, whose land area exceeds 90,000 square meters and a construction area of 167,000 square meters, occupies a strategic location at the intersection of the Eastern Ring Road with King Abdullah Road, and it is expected that the number of its visitors will reach 6 million visitors annually by providing entertainment areas according to the best global standards. Al-Hamra district project includes an indoor viewing wheel, an indoor surfing area, bowling alleys that include 10 amazing tracks, an indoor air-flying area full of challenge and excitement, electric karting tracks, as well as cinemas, restaurants, cafes and branded retail stores with local and global brands. Having partnerships with a number of the most prominent international brands in the entertainment sector, the entertainment destination at Al Hamra district will include many attractions to be the first of their kind in the world, which will be developed through global partnerships, including the indoor adventure center from Discovery, the educational entertainment landmark that it allows its users to have an interesting experience through exploration, play and education. --SPA