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SEVEN and Qiddiya join forces to boost Saudi Arabia’s entertainment industry

The merger aligns with PIF’s economic diversification goals and seeks to enhance the quality of life for Saudi citizens

Seven and Qiddiya join forces to boost Saudi Arabia’s entertainment industry

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

“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,” says Abdullah Aldawood, managing director of Qiddiya and chairman of SEVEN.

SEVEN plans to transform leisure nationwide by developing and operating 21 entertainment destinations across 14 cities with investments exceeding $13.3 billion (SR50 billion). By joining Qiddiya, SEVEN is set to support the development of the concept of play and advance local talent and capabilities while enhancing the quality of life in the country.

SEVEN, which is owned by PIF, is planning to open the first of 21 destinations next year as part of its mandate to build entertainment complexes in remote corners of the country. It has announced a series of collaborations with globally renowned attraction brands such as Transformers and Play-Doh from Hasbro, Discovery Adventures from Warner Bros., Hot Wheels from Mattel, Clip n Climb, and Flow House.

Qiddiya, also owned by PIF, is valued at $9.8 billion and is a super-city purely focused on sports, leisure and entertainment. When complete, the plan is for Qiddiya to create more than 325,000 jobs and add 135 billion Saudi Riyals ($36 billion) to the GDP each year it is up and running.

It plans to have its own race track, a Six Flags theme park and FIFA World Cup-ready football stadiums, all spread over a space around twice the size of Washington D.C.  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.