Saudi Arabia’s Public Investment Fund (PIF) has launched a new company called QSAS to develop immersive storytelling experiences inspired by the kingdom’s heritage and Islamic history.
QSAS will develop, own and operate world-class cultural experiences across Saudi Arabia. It will create different types of attractions, including permanent and touring exhibitions, and multi-sensory experiences.
The name QSAS is derived from an Arabic word meaning “stories”. In its experiences, the company will highlight historical milestones and inspiring personalities from Saudi Arabia and across the world.
It will start locally with exhibitions and experiences that tell stories based on Islamic history and Saudi heritage before expanding to global markets.
Mishary Alibraheem, head of entertainment, leisure, sports and education, MENA direct investments at PIF, said: “The tourism and entertainment sector is a strategic local priority for PIF, as we focus on enriching the tourism and entertainment experience.
“QSAS will contribute to strengthening Saudi Arabia’s position as an attractive tourist destination with storytelling inspired by history, culture and heritage, and will invest in local talent to build new economic activity focused on providing interactive experiences; a sector which is witnessing significant global growth.”
Via a press release, the company will also contribute to the “localization of knowledge and technology for the private sector content creation industry”.
Storytelling inspired by history and heritage
The establishment of QSAS is expected to contribute to the creation of more than 11,000 direct and indirect jobs by 2030.
QSAS will complement other PIF investments in the entertainment and leisure sector, including the Diriyah giga-project.
From Qiddiya to Neom, Saudi Arabia is creating a host of giga-projects and attractions as part the Public Investment Fund’s Vision 2030, which aims to diversify the economy and reduce the kingdom’s reliance on oil.
Since opening to tourism in 2019, the kingdom has become one of the fastest-growing markets globally.
Images courtesy of PIF
