Mega entertainment complex to be built in Riyadh

By January 3, 2019News

The multi use complex will have facilities for sports events, live events, F&B outlets and cinemas

A new mega entertainment complex has been announced for Riyadh by the Saudi Entertainment Ventures Company. The complex, the first from the company which is a fully owned subsidiary of the Saudi Public Investment Fund (PIF), will spread across an area of approximately 100,000 square metres.

Located on the Eastern Ring Road at the intersection with King Abdullah Road, the proposed site was selected for several reasons including easy access from several highways as well as a connection with the Riyadh Metro, with the nearest stations only a few metres away.

The Saudi Entertainment Ventures Company was first announced by the PIF in September 2017, with SAR10bn ($2.7bn) in initial capital, to act as an entertainment investment arm. Its goal is to support and develop the entertainment sector and strengthen local talent through establishing local leisure projects across the Kingdom. It has four focus sectors; cinema; recreational complexes; amusement parks; and family entertainment centres. By the end of 2030, the projects are expected to contribute SAR8bn ($2.1bn) to the gross domestic product, serve more than 50 million visitors annually and create more than 22,000 direct jobs.