WHY SAUDI ARABIA? WHY NOW?
In-line with the VISION 2030, Saudi Arabia is now embarking upon an incredibly ambitious programme of economic diversification and liberalisation. With an aim to ring in a new chapter in its history, a range of new developments have been made to position the Kingdom as a leisure destination not only for the residents but for the overseas visitors as well.
A few of them include lifting a decade-long ban on cinemas with 350 more to open by 2030, construction of a large entertainment city roughly the size of Las Vegas, the building of 16 entertainment complexes, an aquatic centre, three other leisure hubs and more. With an overall investment of USD 64 billion in the coming decade, along with major advancements; from fashion to opera, festivals to concerts, and movie watching to filmmaking, the country is all set to make its entertainment ambitions a reality.
SAUDI ENTERTAINMENT AND AMUSEMENT exhibition will gather government bodies, procurement professionals, owners, architects, consultants, and developers involved in entertainment and amusement industry projects to meet local and international suppliers and source products that they need to change the outlook of the country.
MAJID AL FUTTAIM VOX CINEMA & AMC ENTERTAINMENT HOLDINGS
Majid Al Futtaim, the mall-operator behind Ski Dubai, will invest $533 million to open 600 multiplex cinemas in the next five years in Saudi Arabia, starting with Riyadh Park Mall in the coming days. In addition to this, US-based Entertainment Holdings, plans to open 100 cinemas more by 2030.
SIX FLAGS BRANDED THEME PARK
Amidst the wide-ranging social reforms, Saudi Arabia’s Public Investment Fund and Six Flags, the theme park company, inked the deal to develop and design a branded theme park in the Kingdom’s first entertainment, sports and cultural destination.
Announced in Riyadh in October 2017 with its first phase due to be completed in 2025, this unprecedented project worth $500 million, will build a new megacity on the Red Sea near Saudi Arabia’s northeast border with Egypt and Jordan and cover an area some thirty-three times the size of New York City.
HAYY: CREATIVE HUB – A CULTURAL CENTRE
Hayy Creative Hub, a $400 million complex in Jeddah spread on 55,800-square-foot, aims to be a community-based incubator for contemporary art, comedy, theater, and filmmaking. To be open in 2019, Hayy is envisaged to bring together the diversity of the city’s artistic and cultural communities in one place.
AL-QIDDIYA ENTERTAINMENT CITY
The launch of $500 Million entertainment city almost as big as Las Vegas located southwest of Riyadh, is a major development that will include theme parks, resorts, hotels and residential units on about 100 miles of sandy coastline on the Red Sea. At a total size of 334 square km, its first phase due to open to the public in 2022.