PIF-Subsidiary Launches 1 Million Square Meter Amusement Park, Other Projects in Eastern Province

Saudi Entertainment Ventures (SEVEN), a subsidiary of the Public Investment Fund (PIF), said on Wednesday that it was launching its largest project to date in the Eastern Province of the Kingdom – an amusement park, along with other entertainment projects.

In its announcement, SEVEN said it would be building its first amusement park, which will cover an area of 1 million square metres (10.7m square feet). The amusement park will be located in Al Aziziyah, an area just south of Dhahran, Saudi Arabia.

Saudi Entertainment Ventures (SEVEN) is a subsidiary of the Public Investment Fund.

Saudi Entertainment Ventures (SEVEN) is a subsidiary of the Public Investment Fund.

SEVEN also revealed plans for six cinemas and three “new entertainment destinations” in the Eastern Province cities of Dammam, Khobar, and Al-Asha.

“Seven intends to convert the Eastern Province into an excellent entertainment destination in the Arabian Gulf, thanks to its strategic geographic location and tourism significance for the kingdom,” Seven chairman Abdullah bin Nasser Al-Dawood says.

“[The region’s] stunning coasts, green oases and serene vast deserts make it an attractive area for investment and development.”

Investment in entertainment offerings and destinations for tourists is emerging as a key part of the Kingdom’s Vision 2030 economic and social reform plans, as promised when Vision 2030 was announced in 2015. The Kingdom has already hosted concerts, sporting events, and film screenings as it continues to open up.

Commenting on the launch on the new venture, Bill Ernest, CEO of SEVEN, said: “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.”