PIF’s Seven starts work on $266m entertainment complex in Tabuk
The Saudi Entertainment Ventures, also known as Seven, has started the construction of its SR1 billion ($266 million) entertainment destination in Tabuk, the wholly owned subsidiary of the Public Investment Fund revealed on Tuesday.
The destination will transform the entertainment landscape of the Tabuk region with a wide range of attractions and experiences, said a statement issued at the Municipal Investment Forum being held in Riyadh by the Ministry of Municipal and Rural Affairs.
“We are excited to be bringing our exciting new entertainment experiences to the people of Tabuk,” said Seven Chairman Abdullah AlDawood.
“Our entertainment destination gates will support the local economy, create job opportunities for the city’s people, and enrich the lives of those living in and visiting Tabuk.”
Designed by world-renowned architects, Gensler, the entertainment complex in Tabuk will be spread over 72,500 sq. m. Located on King Faisal Road, it is designed as a village nestled between gardens and recreational spaces, creating an extension of this environment within.
During a signing ceremony at the forum, the PIF’s unit awarded the development contract to build the entertainment destination to Al Bawani Co. Ltd., a leading Saudi-owned and managed company.
Fakher AlShawaf, Group CEO, of Albawani Holding, said: “We are thrilled to be part of Seven’s entertainment project in Tabuk. Our commitment to Seven is to deliver world-class entertainment facilities. The entertainment sector is growing rapidly in the Kingdom, and we aspire to support it to become a social and economic catalyst.”
The entertainment complex in Tabuk will also feature an e-karting experience for both adults and children, a 12-hole indoor adventure golf course integrating the latest technology to tailor individual experiences, a 10-lane futuristic bowling experience, and a 10-screen cinema. There will also be a multi-purpose event space hosting a variety of events and a wide variety of local and international retail, food and beverage outlets, the statement said.
Seven is investing more than SR50 billion to build 21 entertainment destinations that will provide unique and innovative world-class entertainment experiences and global partnerships from within the sector. It recently announced the beginning of construction of its entertainment destination in the Al Hamra district of Riyadh as well as the location of the upcoming projects in 14 cities across the Kingdom: Riyadh, Al-Kharj, Makkah, Jeddah, Taif, Dammam, Alkhobar, Al Ahsa, Madinah, Yanbu, Abha, Jazan, Buraidah, and Tabuk.