Saudi entertainment giant SEVEN merges with Qiddiya to enhance leisure sector

Saudi Entertainment Ventures (SEVEN), a subsidiary of the Public Investment Fund (PIF), is set to merge with Qiddiya Investment Company (QIC), which will expand the kingdom’s entertainment and leisure sector. The merger aims to develop the concept of play, nurture local talent and improve the quality of life across Saudi Arabia, the Saudi Press Agency (SPA) reported yesterday.

SEVEN plans to transform leisure nationwide by developing and operating 21 entertainment destinations across 14 cities with investments exceeding $13.3 billion (SR50 billion).

#QiddiyaInvestmentCompany welcomes @saudi_SEVEN into its group pic.twitter.com/LIfXlTyWwF

— Qiddiya (@qiddiya_en) May 14, 2024

Abdullah Al-Dawood, managing director of QIC and chairman of SEVEN, was quoted as saying: “This step ultimately aims to create a new concept of fun and improve the quality of life by building an integrated and unprecedented entertainment system capable of contributing significantly to Saudi Arabia’s economic diversification plan.”

The entertainment firm will continue to partner with global creators such as Transformers, Play-Doh, and Warner Bros, enhancing visitor experiences with diverse dining options and retail choices tailored to all tastes. Additionally, SEVEN has announced plans for over nine new projects in the near future, following key developments in cities like Riyadh and Tabuk.

This merger follows the launch of Qiddiya City’s urban plan and global branding in December 2023, positioning the megaproject on the outskirts of Riyadh to become the premier destination worldwide for entertainment, sports and culture, with an ambitious goal of attracting 48 million visitors annually.

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