Saudi Arabia has revealed plans for a second mega entertainment hub in Riyadh.
The Saudi Entertainment Ventures Company (SEVEN), a fully-owned subsidiary of Saudi’s Public Investment Fund (PIF), announced the new development.
Located in the Al-Rabwa area, the 135,000-square metre complex will include “carefully selected recreational facilities”, according to the official Saudi Press Agency (SPA).
The destination will also feature restaurants and cafes, open spaces for events, sports and live shows, and cinemas.
The Riyadh location was chosen due to its population density, and because of the region’s need for modern leisure destinations. The new hub will be located close to the Salah Al-Din station of the Riyadh metro project.
— SEVEN مشاريع الترفيه السعودية (@EntertainKSA) March 11, 2019
The announcement comes after Saudi Arabia announced plans to build 20 entertainment centres, including one 100,000 square-metre entertainment complex in Riyadh earlier this year.
The projects will be developed by SEVEN, which received initial funding of SR10 billion ($2.67 billion). Former Disney executive Bill Ernest was hired to run it.
The company’s projects are hoped to attract more than 50 million visitors a year, and will create more than 22,000 direct jobs and contribute $2 billion to Saudi Arabia’s gross domestic product by 2030.
Chairman of SEVEN, Abdullah bin Nasser Al-Dawoud, said that the development of leisure complexes will be expanded to all Saudi regions, and will include diverse entertainment options.
He previously explained: “We aim to make the area a go-to entertainment destination in which families can have picnics, enjoy the arts, relax and get some exercise and fresh air.”
Giga-projects in Saudi
There are 4 “giga-projects” currently under construction in Saudi: Qiddiya, Al-Ula, Neom and the Red Sea Project. In September, the Public Investment Fund announced a new uber-luxury resort called Amaala.
International tourism in Saudi Arabia is forecast to grow by 5.8% per year from 2018 to 2022, according to a report from BMI Research.