Saudi Arabia's sovereign wealth vehicle the Public Investment Fund (PIF) has announced the merger of its entertainment development arm Saudi Entertainment Ventures (Seven) into the Qiddiya Investment Company (QIC). The move is in line with the strategy to establish an entertainment, sports and culture powerhouse in the kingdom. Established in 2018 by the PIF, Seven was spearheading plans to invest $13.3bn in the development of 21 integrated entertainment destinations in 14 cities in the kingdom, in line with Riyadh's strategy to diversify the country's economy away from hydrocarbons, create jobs, and improve the quality of life for citizens and residents. The complexes are intended to position the kingdom as an entertainment, culture and tourism hub for the region. The QIC is developing the Qiddiya entertainment city project on the outskirts of Riyadh. It is one of Saudi Arabia’s five official gigaprojects and covers a total area of 376 square kilometres (sq km), with 223 sq km of developed land.   For registration as supplier: https://seven.sa/commercial/ (ICE RIYADH)

Fonte notizia: Meed