Saudi Entertainment Ventures (SEVEN) Announces First of Many Family-Friendly Entertainment Destinations and Attractions To Be Based in Riyadh

RIYADH, Saudi Arabia and LOS ANGELES, Jan. 9, 2019 /PRNewswire/ -- The Saudi Entertainment Ventures Company (SEVEN), which is fully owned by the Public Investment Fund (PIF), announces the launch of its first family-friendly entertainment destination will be in Riyadh, the capital city of Saudi Arabia. The entertainment complex, located on the crossroad between King Abdullah Road and Eastern Ring Road – with an area of 100 thousand square meters, will be designed in accordance with the highest levels of urban architecture and includes a variety of entertainment facilities.

The site was specifically chosen for several reasons, including its excellent accessibility either by private transportation through different highways or by the public transportation through Riyadh Metro (due to open in 2021), with the nearest station located only a few meters away. The family-friendly entertainment complex will serve the largest part of Riyadh.

"Each entertainment cluster will feature a distinct urban design, the first-of-its-kind, with green and open areas that are equipped for sports activities, entertainment, and live shows as well as a wide selection of local and international restaurants and cafes for visitors of all ages to enjoy," said Abdullah Aldawood, Chairman of SEVEN.

"It will be a one-stop family-friendly entertainment destination and attraction for everyone to enjoy," said Bill Ernest, CEO of SEVEN. "In addition to being the premier leisure destination for sports, fun, art and live shows, each cluster will feature a cinema – designed according to the international standards in terms of quality and overall experience."

With the launch of SEVEN in 2017, PIF expects the company's projects to serve more than 50 million visitors each year, provide more than 22,000 direct jobs and contribute to the GDP with approximately SAR 8 billion by 2030. SEVEN will also be a key element in diversifying entertainment selections in the Kingdom with new capital to support the growth of the sector and diversify the Saudi economy in the short and long terms.

ABOUT SEVEN:
The Saudi Entertainment Ventures (SEVEN) Company was established by the Public Investment Fund in December 2017. It is the first entity to obtain a license for operating movie theaters in the Kingdom.  The company launched the first cinema in Saudi Arabia after more than 35 years in partnership with U.S. based AMC Group, the largest cinema operator in the world.

As the key investment arm for entertainment on a Kingdom-wide level, The Saudi Entertainment Ventures strategy and focus is the Public Investment Fund commitment to making entertainment and local community lifestyle available across the Kingdom.  The Company is planning to invest in the entertainment sector, increase expansion, diversify the service offering and raise the quality based on international standards, in addition to building capacity and developing local talent in the entertainment field across the Kingdom.

CONTACTS:

UNITED STATES:
Amy Prenner,  [email protected]
Rick Gomes, [email protected]

DUBAI:
Sharon Taylor, [email protected]
Ananda Shakespeare, [email protected]

SOURCE Saudi Entertainment Ventures Company