Qiddiya Investment Company (QIC), a global leader in entertainment, has announced a significant development in the Saudi entertainment landscape with the entry of Saudi Entertainment Ventures (SEVEN) into its group of companies. This strategic move aims to boost Saudi Arabia’s entertainment ecosystem and foster synergy among QIC’s activities in the sector.
Fostering the concept of play
By integrating with QIC, SEVEN aligns itself with the company’s vision of developing the concept of play, nurturing local talents, and enhancing the overall quality of life in Saudi Arabia. SEVEN will continue to redefine entertainment in the Kingdom and elevate visitor experiences by spearheading the development and operation of 21 entertainment projects across 14 cities, with investments exceeding SAR50 billion ($13.33 billion).
Commenting on the announcement, Abdullah Aldawood, managing director of QIC and chairman of SEVEN, said: “This step ultimately aims to create a new concept of fun and improve the quality of life by building an integrated and unprecedented entertainment ecosystem capable of contributing significantly to Saudi Arabia’s economic diversification agenda.”
Global partnerships and offerings
SEVEN has forged partnerships with renowned global brands such as Transformers and Play Doh from Hasbro, Discovery Adventures from Warner Bros., Hot Wheels from Mattel, Clip ‘n Climb, and Flow House. These partnerships, along with curated retail and dining options, aim to cater to diverse preferences and elevate the entertainment experience for all.
SEVEN’s expansion plans include key announcements in Riyadh, Tabuk, Al Madinah and Yanbu, with nine additional projects it plans to unveil soon. This strategic growth aligns with QIC’s vision of becoming a premier entertainment, sports and cultural destination, poised to attract 48 million visitors annually.
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PIF’s strategy for growth
PIF launched SEVEN in 2017, while QIC stands as a PIF giga-project, underscoring the fund’s commitment to diversifying the Saudi economy and advancing the goals of Saudi Vision 2030. Entertainment serves as a strategic growth sector for PIF, with an aim to enhance integration between its projects and companies and increase their operational efficiency.
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