Saudi Entertainment Ventures (SEVEN) ), a wholly-owned subsidiary of the Public Investment Fund (PIF), announced in a statement that it has awarded Construction Contract for the development of Al Hamra entertainment destination in Riyadh.
The Project has been awarded to India based Construction frim, Shapoorji Pallonji Group.
The value of the contract is SAR 1.39 billion (USD 370.6 million).
SEVEN, which was set up to invest, develop and operate entertainment infrastructure in the Kingdom, had announced plans to invest SAR 50 billion ($13 billion) in developing 21 integrated entertainment destinations with over 150 innovative attractions across 14 cities across the Kingdom. (read more)
SEVEN’s entertainment destination in Al Hamra, which has an investment value of more than SAR 3 billion, is set on a land area of more than 90,000 square metres with a built-up area of 167,000 square metres and occupies a strategic location at the intersection of the Eastern Ring Road and King Abdullah Road.
SEVEN Al Hamra is expected to attract 6 million visitors per year by providing world-leading entertainment attractions.
